Political Science 1020E Lecture Notes - Lecture 3: Friedrich Engels, Neomercantilism, Mercantilism
12 Jan 2017
School
Department
Course
Professor
Document Summary
A(cid:272)(cid:272)ordi(cid:374)g to ma(cid:454) we(cid:271)er, the state (cid:272)lai(cid:373)s a (cid:373)o(cid:374)opol(cid:455) of : legitimacy, sovereignty, community, coercion, corruption. What is political economy: politics and economics are interrelated: Economy influences political outcomes (cid:862)money talks(cid:863) Politics influences economic outcomes: organizing the economy. Karl marx and friedrich engels: political science: an offshoot of political economy. Approaches: state centric: markets not natural, state formation inspired state intervention in markets. Mercantilism a way to describe what is the developmental state. Use power of state to make sure our important companies because world leaders. Return to european themes of 16th/17th century. Approaches: classical and neo-classical: classical for adam smith, markets are: Great communicators (markets are fundamentally a source of information) Best left largely alone laissez faire. The basis for a new science of society. If we understand the market, and apply market principles to all realms of human activity, we can create a better world: neoclassical economics becomes: Eager to offer (cid:862)market ma(cid:374)(cid:863) as ge(cid:374)eral (cid:373)odel.
