Week 3 Flashcards
(34 cards)
What are ideologies according to Gilpin?
Systems of thought and beief by which individuals and groups explain how their social systems operate and what principles it exemplifies
What provides scientific descriptions of how the world works and normative positions regarding how the world should work?
Ideologies
What theory says that the primacy of the state, national security and military power?
Mercantilism
Which theory says economic resources are necessary for national power?
Mercantilism
Why is industrialisation mandatory in Mercantilism?
- It creates externalities in the state
- Self-sufficiency
- Political economy
- Basis of military power
True or false: Relative gain is more important than mutual gain?
True
What requires a favourable balance of trade in Mercantilism?
National security
What is a source of conflict in Mercantilism?
International trade and interdependence
What are the criticisms of Mercantilism?
- International trade is not a zero-sum game
- Pursuit of power and wealth do conflict
- Industrial development needs to take account of comparative advantage
- No attention to society within the state
How does Gilpin define Liberalism?
A doctrine and set of principles for organising and managing a market economy in order to achieve maximum efficiency, economic growth and individual welfare
What is economic Liberalism?
Free markets and a minimal state
What is political Liberalism?
Individual equality and liberty
Who believes in the concepts of supply, demand and equilibrium and that progress is best measured by GDP per capita?
Liberalism
Who advocates that comparative statistics are the main method of analysis?
Liberalism
______ will moderate and add stability to IR?
Market
_______ are required to ensure property rights, arrest market failure and provide public goods?
Governments
What are the criticisms of Liberalism?
- Liberalism looks only within itself at neoclassical economies
- Separates economy from rest of society
- Relative gains
- Does not look at distribution
- Individuals in markets are not perfectly informed
- Doesn’t account for change
What are the four essential elements of Marxism?
- Reality is dynamic and conflictual
- Materialist approach to history
- Capitalist mode of production is destined to fail
- Normative commitment to socialism
What are the three economic laws of Marxism?
- Production capacity exceeds consumers ability to buy
- Drive for efficiency will concentrate capital in the hands of the few most efficient
- Failing rate of return on capital (profit)
What is the process of Marxism?
- Acquisition of colonies
- Pay off the “labour aristocracy”.
- Process of uneven development leads to conflict.
- Capitalist economies then fight over colonial territories.
- Warfare leads labour to its death.
- Capitalism fails.
What are the criticisms of Marxism?
- Failure to appreciate the role of political and strategic factors in IR
- Earning and spending does affect social structure but not necessarily the determinant of history
- Commitment to socialism is unexplained utopianism
- Each mode of production exhausts its capacity
In Mercantilism, what is the role of the state?
To intervene in the economy to allocate resources
In Mercantilism, what is the nature of IPE?
Anarchic/conflictual
In Mercantilism, what is the objective of economic policy?
To enhance the power of nation-state in the international system
