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8/13/2019 Classical IPE Theories
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Lecture 4
Classical IPE Theories
All theories here are descriptive and
prescriptive to various degrees.
Dr Jacqui Ala
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Economic Nationalism/Mercantilism
Origins establishment of modernsovereign state, 16th& 17thCenturies
Alexander Hamilton; Friedrich List
Economics subservient to politics Main actors states
Nature of economic relations conflictual/zero sum game
Benign vs aggressive mercantilism
Economic goals state power
Success of East Asia
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Economic Internationalism/
Economic Liberalism
Counter theory to mercantilism, emergingalso in 16th& 17thcenturies
Adam Smith (1723 1790)
David Riccardo, comparative advantage Economics autonomous from politics
Main actors individuals/companies
Nature of economic relations cooperative/positive sum game
Economic goal maximum individual andsocial well being
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Economic Structuralism
Critical Response to Liberalism
Includes Marxist Theory (Marx, Engels and Lenin)
Dependency Theory (Raoul Prebisch)
World Systems Theory (ImmanuelWallenstein)
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Marxism
Economics dictates politics (materialist)
Main actors classes
Nature of economic relations conflictualzero sum
Growth of capitalism positive
States not autonomous V I Lenin - Imperialism
Capitalism is expansive
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Neo Marxism Robert Cox
Coxs analytical framework
Social forces
Forms of stateWorld order
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Dependency Theory
Sees world in two spheres The core
manufactured goods Colonizers
The periphery primary goods Colonies NeocolonialismRelationship is inequitable and seeks to entrench the
status quo as the core states determine the rules ofthe game
They also have influence on the elite of the peripheryEconomic system needs to be changed to achieve
greater equality between players
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Immanuel Wallenstein
World Systems Theory
periphery
Semi periphery
core
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Contemporary debates
Does a liberal IPE need arehegemon?
Development and underdevelopmentin the Third World contendingmodels
Economic globalization: where arewe going?
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Class Assignment - Due Date 25 April @ 12:30
Task
Colour code each country in the table according to their GDP
Now colour in the country on the world map according to their above assigned GDP
colour
Also write their Human Development Index ranking on the map
Questions
Section A (50 marks)
Explain what a gross domestic product is and what it is designed to measure?
Explain what the human development index is and what it is designed to measure?
How do these 2 instruments of economic measurement differ? Where are the countries with high GDPs in geographically located?
Where are the countries with low GDPs in geographically located?
Where are the countries with the highest HDIs located?
Where are the countries with the lowest HDIs located?
What observations can we make from looking at this map about the global dispersionof wealth?
Is there a correlation between states GDP and HDI score? What are the possiblereasons for this?
Section B - Short Essay (3-4 pages) (50 marks)
Referring to the literature below, discuss the strengths and limitations of using thehuman development index to assess countries levels of development.