INTRODUCTION TO INTERNATIONAL POLITICAL ECONOMY. Political Science 186 Global Studies 123. I. Introduction – Conceptual and Analytical Issues. 1. What is International Political Economy? 2. What are the issues? A. Actor behavior B. System governance C. Globalization.
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Political Science 186
Global Studies 123
A. Monetary system: classical gold standard
B. Trading system: movement toward free trade in 1860s-70s, then back toward protectionism
C. Core-periphery relations: rise of “new imperialism” after 1870s
1. Basic issue: a tension between desire for material benefits of an open system and pressure to promote/defend state and/or particularist interests
a. Advantages of free trade: efficiency, growth
b. Disadvantages of free trade: dependence, losses to key constituencies
c. Collective action problem: how to manage the basic tension
2. Trade Regionalism (regional trade agreements)
3. Monetary regionalism (monetary unions, etc.)