Global Political Economy.


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US a noteworthy capital merchant at this point. LDCs get littler extent of ... legislative issues. Ascent of collectivist belief systems. Fighting and between war unsteadiness. The Liberal ...
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Slide 1

Sister 401 Summer 2005 Wolfram Latsch International Political Economy Presentation 5. Why Globalization Works I.

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What Liberal Globalization Means "development in the bearing on more prominent mix" Greater "joining of monetary exercises, through business sectors" Lowering of "regular and man-made obstructions to worldwide financial trade" "More noteworthy dependence on business sector powers"

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Markets, Democracy and Peace Property and flexibility (political and monetary freedoms or rights, political and monetary control rights/property rights) The gainful state Regulatory rivalry ( contestability ) Constitutionality, responsibility ( validity, limitation ) Moral change ( business society and gatekeeper society )

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Markets, Democracy and Peace International relations Comparative favorable position and total preferred standpoint Positive-whole connections and zero-entirety cooperations "Openness": products, administrations, innovation, thoughts Collectivism and progressivism

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The "Enchantment" of the Market Rise of the business sector economy Property (incl. IPRs) Corporations Innovation Financial intermediation

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Physician, Heal Thyself Death of focal arranging Who\'s the supervisor? Business sector or organizer? Generation or utilization?

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The Changing Role of the State Why has the extent of the state changed? Open merchandise Merit products Regulation and rivalry arrangements Redistribution and danger administration Why has the extent of the state changed?

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Physician, Heal Thyself Market disappointment Government disappointment Capture, "unique premiums" The legislature as an exceptional premium

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The Liberal Global Economy The first and second "brilliant times of globalization" 1870-1914 (UK and branches) Since 1950 (Western Europe, Japan, then non-Japan East Asia) Criterion : merging of costs and synchronized business cycles

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The Liberal Global Economy Trade in Goods and Commodities Large volume increment in exchange Increase in efficiency of merchandise creating segments, fall in relative costs of products Increase in significance of administrations Rise in intra-industry exchange and intra-firm exchange (MNCs)

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The Liberal Global Economy Capital portability UK a noteworthy capital exporter in the 19 th C. Branches are significant beneficiaries of capital in 19 th C. US a noteworthy capital merchant now LDCs get littler extent of ventures today

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The Liberal Global Economy Labor portability Migration a main consideration in the 19 th C. (c. 19-100 million from 1815-1914) Migration unimportant today, for the most part intra-LDC evacuees Migration today: talented work collected in DCs " Factor value leveling " marvel

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The Liberal Global Economy The 1914-45 recess: why? Citizenship, open merchandise and patriotism Business cycles and monetary incorporation Protectionist legislative issues Rise of collectivist philosophies Warfare and between war shakiness

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The Liberal Global Economy After 1945 Keynesianism, tweaking, full work Fixed trade rates, restricted capital versatility Int\'l financial organizations (IMF, WB, GATT/WTO) Oil emergency, stagflation, change

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The Liberal Global Economy After 1945 LDCs : arranging and statism versus outward-introduction Resurgence of financial radicalism Liberalization in India and China: joining ?