Final Exam Flashcards
(39 cards)
Economic Liberalism
ideas based on Adam Smith that when individuals pursue their own self-interest, efficiency for everyone is achieved; markets function best when governments interfere the least
Mercantilism
Economic theory: international commerce should increase a state’s wealth, especially gold; state power is enhanced by a favorable trade balance
Economic Nationalism
Modern version of core mercantilist ideas that economic policies should be subservient and obey the national interest
Economic Radicalism
Marxist and neo-Marxist beliefs that international capitalism causes poor labor conditions, colonial expansion, and divisions between the rich and poor
View of Human Nature
Economic Liberalism - individuals act in rational ways to maximize self interest
Mercantilism - Humans are aggressive; conflictual tendencies
Economic Radicalism - Naturally cooperative as individuals; conflictual in groups
Relationship among Individuals, society, and state markets
Economic Liberalism - rational individuals -> markets are created to produce, distribute , and consume goods; markets function best when free of govt interference
Mercantilism - Goal is to increase state power by regulating economic life; economics is subordinate to state interests
Economic Radicalism - competition among groups (owners of wealth and laborers); group relations are conflictual and exploitative
Relationship between Domestic and International Society
Economic Liberalism - International wealth is maximized with free exchange of goods and services; on the basis of comparative advantage, international economy gains
Mercantilism - international economy is conflictual; insecurity of anarchy breeds competition; state defends itself
Economic Radicalism - Conflictual relationships-inherent expansion of capitalism; seeks radical change in international economic system
Macroeconomic Policies
government policies designed to address macroeconomic conditions, including fiscal and monetary policies
Microeconomic Policies
Government policies adopted to affect regulations, subsidies, competitiveness, and antitrust actions
World Bank (Bretton Woods Institution)
Loans funds to states proposing economic-development projects
International Monetary Fund (IMF) (Bretton Woods Institution)
Original purpose was to guarantee exchange-rate stability; today purpose is to act as lender of last resort to keep debtor countries from collapsing
International Finance Corporation (IFC) (Bretton Woods Institution)
Provides loans to promote growth of private enterprises in developing countries
International Development Association (IDA) (Bretton Woods Institution)
Provides interest-free loans to the poorest countries
Multilateral Investment Guarantee Agency (MIGA) (Bretton Woods Institution)
Encourages the flow of private equity capital to developing countries
G7
France, Germany, + Japan, US, Italy, Canada, GB (JUICE)
General Agreement on Tariffs and Trade (GATT)
Series of multilateral trade negotiations designed to stimulate trade by lowering trade barriers (economic liberalism)
World Trade Organization (WTO)
Replaced GATT as forum for negotiating new trade agreements; includes stronger dispute-settlement procedures
4 major human rights debates
1) inalienable-fundamental to every person? To life? nonnegotiable? Universal? Cannot be taken away?
2) applicable to all peoples in all states, religions, cultures, without exception? Are rights dependent on culture
3) should some rights be prioritized over others? Social rights v. political / civil rights
4) who has the responsibility and the “right” to respond to violations? Is this an absolute obligation or mere opportunity?
Cultural Relativism
The belief that human rights, ethics, and morality are determined by cultures and history and therefore are not universally the same
International Humanitarian Law
4 Geneva Conventions and protocols protecting individuals during war:
- wounded armed forces
- wounded shipwrecked
- prisoners of war
- civilians
International Bill of Rights
“Universal Declarations Cover People and Economic Societies” (UD + CP + ES)
1) UD - Universal Declaration of Human Rights (UDHR)
2) CP - International Covenant on Civil and Political Rights (ICCPR)
3) ES - International Covenant on Economic, Social, and Cultural Rights (ICESCR)
3 acts of genocide (kill — harm — transfer)
1) killing members of the group
2) causing serious bodily or mental harm
3) forcibly transferring children to another group
3 punishable acts of genocide (genocide crime involves..)
G - Genocide
C - Conspiracy to commit genocide
I - Incitement (direct and public) to commit genocide
4 crimes against humanity
1) Murder
2) Extermination
3) Deportation or forcible transfer of population
4) Rape and other forms of sexual violence
