Lecture 11 - What is IPE? Flashcards
(19 cards)
What does IPE study?
It studies how politics and economics interact at both domestic and international levels.
Why is IPE important in International Relations?
It broadens the scope of IR by focusing on issues like trade, inequality, and global markets, not just war and diplomacy.
How does IPE challenge traditional IR?
It breaks from state-centrism and brings the economy, society, and transnational actors into focus.
What is the first premise of IPE?
Politics and economics are inseparable and should not be studied independently.
What is the second premise of IPE?
Economic structures are politically constructed and transformed.
What is the third premise of IPE?
Domestic and international realms are deeply interconnected.
What are the two main roots of IPE?
Sub-discipline of IR (1960s–70s): Emerged from dissatisfaction with IR’s narrow focus on security; demanded focus on interdependence and non-state actors.
Classical Political Economy tradition: Draws on thinkers like Adam Smith and Karl Marx to explore how power, institutions, and wealth shape societal outcomes.
Which thinkers influenced the classical tradition in IPE?
Adam Smith, Karl Marx, and others like Polanyi and Ricardo.
How did IR contribute to IPE’s development?
It introduced a need to study economic interdependence, especially post-WWII and during the Cold War.
What are the two views on the politics-economy relationship?
Version 1 (Orthodox/Neoliberal):
State and market seen as distinct.
Focus on trade, financial flows, and competition.
Prioritizes rationalist institutionalism (e.g., WTO, IMF).
What are the two views on the politics-economy relationship?
Version 2 (Critical IPE):
Politics and economy are historically and structurally entangled.
Capitalism is a global, power-laden system.
Focus on social struggle, class, gender, and ecological critique.
Explain the distinction between international and transnational in IPE.
International relations: Interactions between states.
Transnational relations: Interactions that cross borders but may not involve states—e.g., NGOs, MNCs, diaspora networks, global supply chains.
How does IPE help us understand global crises and inequalities?
Reveals the power dynamics behind global economic governance.
Explains uneven development and financial crises through systemic analysis (not just policy failures).
Offers tools to critique neoliberal globalization and examine alternatives (e.g., green economy, feminist economics).
List key critical IPE theorists and their main ideas.
Karl Marx – Capitalism as a system of class domination; surplus value and exploitation.
Karl Polanyi – Markets are embedded in society; double movement and social protection.
Immanuel Wallerstein – World-systems theory; core-periphery dynamics.
Susan Strange – Power in IPE is exercised through structures (finance, production, security, knowledge).
What role does the state play in critical approaches to IPE?
The state is not just a neutral actor but a guarantor of capitalist order.
It manages social conflict, promotes growth, and ensures the stability of capitalist institutions.
Power exists not only in formal politics but in economic and social relations.
How do IPE scholars analyze the politics of climate change?
Critical IPE highlights how capitalist production leads to ecological destruction.
Emphasizes that solutions must consider power structures—e.g., corporate lobbying, state subsidies to fossil fuels.
Looks at global inequality: countries most responsible for emissions are least affected, and vice versa.
What functions does the state perform in capitalism?
Manages crisis
Controls labour
Protects capital
How does mainstream IPE view globalization?
As positive-sum—everyone benefits from open markets and free trade.
How does critical IPE view globalization?
As unequal and exploitative, driven by corporate interests and Western dominance.
