Liberalismus Flashcards
(24 cards)
Liberal vs Conservative in U.S.
Liberal: more state Regulation
Conservative: liberal economists, free market, private property, limited state regulations
Coherent liberal international theory?
There is none. Liberals are pluralists
Orthodox Liberalism General?
Promoting „negative freedom“
Freedom of private sector
Minimal marketinterference from the state
(Adam smith, David Ricardo)
Interventionist Liberalism
No certainty that private sector brings progression
More interventions from the state
Positive freedom + negativ
Want to bring More equality, fairness and justice in free market economy
Institutional Liberalism
Favor of development of strong international institutions ( WTO, IMF, World Bank)
Focus of Liberalism
Individuals
3 major international economic organizers
IMF ( International Monetary Fund)
World Bank/IBRD ( Int.Bank for Reconstruction and development)
GATT ( General Agreement ob Tariffs and Trade)
Politics and economics in liberalism
Separated strictly
Economic interests are always good for a nation
State should only provide infrastructure and national defense , and freedom for markets
Orthodox liberalism origins and pesimism ?
Locke
Smith - Laisser-faire- invisible hand- against mercantilist believes of zero-sum game- believe in positive sum and growth
David Ricardo- advantages in production helps make fair Traids in international Anarchie
3 important functions of the state
Adam smith
- national defense
- protect members of injustice and oppression
- provide Puplic goods that private wouldn’t provide on their own
Keynes
Noted, that a balance in markets often still comes with high-rates of unemployment.
High unemployment rate—>low demand—>bad economic
So Keynes proposes: state should become involved in market dynamics, help increase demand when underemployement if necessary with investment or monetary policys
Or limit import, even though it s not financialy effective.
Interventionist liberalism
It’s still capitalistic
Post war liberalism?
Interventionist
Try to not repeat mistakes in between war (great depression) so they give a bigger role to state and bargaining power to unions and Labour organization, which in response derqdicalize and step away from socialism
Mont Pelerin Society
1947
Orthodox liberals who even hate the state more than a.smith
Friedmann, Hayek, mises…
50s/60s keynanism
70s oil crisis: power to neo-liberals: thatcher and Reagan
Sowjet-breakdown: global neo-liberalism: no accountability for international firms
Dependencies of global south
Interdependence Theory
1968-Richard Cooper
Need for international policy making because of interdependence between stateseconomies
Focus on international organizations
1978- Keohanne, Nye…pessimistic view, interdependencys are asymmetrical, less dependent have more powe
Cooperation in liberalism
No global centralized authority
Game Theory and Prisoners Filemaker
Can there be a Pareto-effective solution
Solution: - International Organizations
- global hegemonial powers (?)
Regime ?
Set of implizit or explizit principals, rules, norms and decision-making procedures in an area of international relations
Regime theory focuses on just a few areas , for example?
Traid and Monetary relations:
WTO: Global Trade Regime
IMF: Global Monetary Regime
Orthodoxe Liberale zu nord-süd Beziehungen
Not much interest
LCD profit more from interdependencies than “developed”
The misfortune of the south is explained trough irrational or inefficient domestic policys
Modernization theory
Strengthening of the private sector is solution
Critisising ISI
LDCs need export-led economy to thrive
Modernization theory
50s and 60s
Modern as conta to tradition
Deterministic
Traditional live is the problem of the south and reason why they should develope in a western way to overcome economical problems
Endet mostly in the 70s but orthodox liberals still believe it
Walt Rostov
Author: the stages of economic growth
Modernization theoriest
Critics to modernization theory
South now has different problems than the north in the last stages
ISI?
LDC Policys in the 50s and 60s (some latinx country’s till 70s) to help protect local industry from OECD.
Interventionist s on north-south relations
Efficient, market-orientated policys for LDCs, but also acknowledge of inequalities between south and north.
Removal of northern trade barriers to south + protectionism
Increased financial resources to LDCs trough IWF and World Bank
Multinational cooperations should not take advantage of LDCs position
No radical change of economy or distribution needed
Critique of the liberal perspective?
Inattention to power and distribution
Realists: trade is rarely free, and equal. We need to focus on bargaining power.
Powerful states can injure the weaker by terminating linkage to trade, aid, foreign investment
Historical Strukturalist: liberals legitimize inequality and exploitation.
Misleading working class (they would benefit from liberal world-order).
Interdependence=exploitation & imperialism
Technical solution for distributional problems
Scarcer resources : positive sum—>zero-sum
South is not interdependent: it is dependent
Under-theorizing the role of the state
