POLSCI 2J03 Final: Final Study Guide
24 Aug 2016
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Document Summary
Economic nationalism: originated in 15th century europe, actors: the state, prior to market. Market is the creation of the state (not natural: struggle for wealth and power (similar to realism, gaining wealth = gaining power, zero sum game; interested in relative gains (which limits cooperation, variants: protectionism, infant industry, culture. Such industries are protected and supported by the government: keeping a common culture. Liberalism: originated in 19th century england (critique of the political system at the time. Wanted to expand power to capitalist class: actors: individuals, tnc"s, states. This revolutionized the trade industry because before comparative advantage, you could only participate in trade if you had absolute advantage. Improves efficiency and growth by benefiting everyone: determinants of comparative advantage: Use what resource you have to your advantage: protectionism is inefficient and harmful, it alienates some from participating, free trade is heavily promoted. Critical theories: mid 19th century europe, marxism: critique of liberalism.
