posc 172 international political economy

3 perspectives

economic nationalism, liberal internationalism, world systems

economic nationalism

economy used to further state interests; use of positive and negative financial inducement, and traditionally associated with neocolonialism

liberal internationalism

both free market capitalism and regulation via IGOs

world systems

marxist, sociocultural

keynesian theory

says that governments should borrow money to spend during recessions to create jobs; they should also lower interest rate on loans to encourage spending

neoliberal theory

theory sys that government should balance budgets, shrink governments, and deregulate the economy, freeing markets

state management

enforcing property rights and banking systems, distribute and monitor currency, create and enforce labor regulations, promote healthy economy, and have fiscal and monetary tools

the international system

bretton woods, world bank, ECOSOC, GATT

exchange rate types

floating, pegged/fixed, replacement

international monetary fund

a United Nations agency to promote trade by increasing the exchange stability of the major currencies

IMF lending capacity

$1 trillion

world trade organization

an international organization that monitors and enforces rules governing global trade

recent members of WTO

china, russia

doha round

A round of WTO negotiations to reduce agricultural subsidies, slash tariffs, and strengthen intellectual property protection. It was suspended in 2006 due to disagreements.

plurilateral agreement

method to bypass stalled negotiations, though it has been continually blocked due to inability to appoint judges to the court