POLI/INTL 105: Review Sheet Exam 3: Fall 2011

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 Independence

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

*MNC and international division of labor

 

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

            Japan as Model

            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

*China and India using this model

*Deng Xiaoping

*Manmohan Singh

How far China and India have to go: the huge poverty levels there

 

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 USSR and Communism

            *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 Americas)

B. *APEC      

C. *European Union

            *Maastricht Treaty

            *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 India

*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

            *China’s role

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?