POLI/
Bill Newmann
This exam is non-cumulative. Questions will refer only to items on this review sheet, to the lectures given since the second exam, and to the readings scheduled for the third exam as indicated on the syllabus.
The exam format will be the same as the previous exam – There will be 75 questions, but you will have two hours and 50 minutes to take the exam.
I’m not sure how much of the Environment and health we will get to (these terms are at the end of the review sheet). If we do not cover that material, I will eliminate it from the review sheet.
List of Terms:
Theories of International Political Economy:
Questions:
what makes a nation wealthy?
what is the proper role of government in economic activity?
*Economic Liberalism
*Adam Smith
*imports
*exports
*tariff
*quota
*non-tariff barriers
*Smith's criticism of tariffs and quotas
*Market forces
Invisible Hand
Division of Labor
Free Trade
MNCs?
*Economic Nationalism (sometimes called Mercantilism)
Nationalist's views of free trade
Alexander Hamilton
Industrial Power and National Power
National Power and
Friedrich List
Mature industries vs. infant industries
*Protectionism
Free trade among equals
MNCs?
Economic Structuralism
International economic division of labor
1. *Marxism
*Karl Marx and Fredrich Engels
*Exploitation
Workers Revolution
*Communism
Lenin
Imperialism
Command Economy
Soviet/Chinese Communism in practice
*
2. *Dependency
Colonialism/neo-colonialism
EDC vs. LDC
ending dependency
capitalism, but with changes
MNCs?
Northern/Industrial Economics
Hegemonic Stability Theory
*The Great Depression
*Importance of economic leadership
Driver of the world economy
Aspects of American Hegemony:
1.*Exchange Rates -- Bretton Woods
2.*General Agreement on Tariffs and Trade
*World Trade Organization
*goals
*functions and structures
3. *International Monetary Fund and Balance of Payments
who contributes
who receives
conditionality
5. *World Bank -- IBRD
The Developing World:
Realities of Developing World
Colonialism
Wars for independence
Infrastructure
Political Stability
* LDCs vs. EDCs
Attempts at creating wealth in the developing world
Failure of other approaches
*Failure of Group efforts
*NIEO (New International Economic Order)
*UNCTAD
*G-77
*OPEC
Success: East Asian Strategy
*Newly Industrializing Countries (Newly Industrialized Economies)
Four Tigers (Mini-Dragons)
Their strategy
Government-business partnership
Open up the economy to the world trading system
*Foreign Direct Investment (FDI)
*Export Power
Export processing zones
*Education/managerial skills
*acceptance of globalization
*
*Deng Xiaoping
*Manmohan Singh
How far
The Future:
*Some assumptions about the changes in the world economy
Importance changes in the world economy: (all of these are touched upon in Friedman)
1. *Collapse of
*Global consensus on capitalism
2. *Success of East Asian model
3. *Information/Technology Revolution
*Brainpower/transnationalism/globalization
4. US not in decline; US system not in decline
5. Bottom Billion thesis
6. Next Convergence Idea
7. *Regionalism:
*Each Bloc in terms of level of integration and political or economic character
A. *North American Free Trade Agreement (NAFTA)
*Western Hemispheric Free Trade Zone:
*FTAA (Free Trade Area of
the
B. *APEC
C. *European Union
*
*Institutional structure
*Group of 8
*Group of 20
Globalization
*transborder products
*Pros and Cons of globalization (see the PPT slides)
*Key controversies: (all of these are touched upon in Friedman)
*Rich get richer, poor stay poor?
*Cultural imperialism
*Loss of governmental power to control their economies
*Labor standards
*the environment
The Great Recession
Assuming economic growth will
continue forever
Private sector debt
Economy slows
The Crash
Public sector debt
Environment
*Global Commons
*Climate Change
Terms
from Friedman, The World Is Flat
*technology and globalization leveling the playing field (meaning of the world is flat)
*outsourcing
to
*how technology changes the nature of work
*a revolution in economics
*the aspect of speed – quickening the pace of change
*Flatteners:
1. *Tipping the scales away from authoritarian governments toward liberal-democracy (collapse of communism)
2. *The internet
3. *How products can be made anywhere now – location is less important
4. *”Self-organizing collaborative communities” – spontaneous cooperation through which people create things
5. *Outsourcing
6. *Offshoring
*
7. *supply chaining
*Wal-Mart (pros and cons)
8. *Insourcing
9.* Informing – the explosion of available information
10*The “steroids” digital, mobile, wireless
*Triple convergence
*multiple identity disorder
*Intellectual property
*Who does not benefit?
1. *Those who are too sick
2. *Those who are disempowered
3.*Those who are too frustrated
4. *Those who can’t get sources of energy
Human Rights:
*Human rights vs. sovereignty (non-intervention)
*humanitarian intervention
*Responsibility to Protect (R2P)
*International Tribunals
*International Criminal Court
Its reason for existence
Cases it considers
*genocide
Debate on Definitions of Human Rights
*1. Universal Morality (Liberal Account of Rights)
*Universal Declaration of Human Rights
2. *Cultural Relativism (challenges to universalism)
Where there is consensus
Where there is no consensus
Arab Spring
Why the Middle East?