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Main Theoretical Approaches in GPE

Main Theoretical Approaches in GPE. Liberalism (Adam Smith, David Ricardo – Joanna). Comparative advantage Free trade Absolute gains Role of international institutions/regimes Underlying common interests Positive-sum game Neoliberalism (GPE) ≠ Neoliberalism (Eco). Adam Smith:.

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Main Theoretical Approaches in GPE

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  1. Main Theoretical Approaches in GPE

  2. Liberalism(Adam Smith, David Ricardo – Joanna) • Comparative advantage • Free trade • Absolute gains • Role of international institutions/regimes • Underlying common interests • Positive-sum game Neoliberalism (GPE) ≠ Neoliberalism (Eco)

  3. Adam Smith: “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard for their own interest.”

  4. Nationalism/mercantilism (Friedrich List) • National welfare over individual consumer benefit – long-term prosperity • Need for state intervention • Wealth/industry as a basis for state power • Discipline, skills, morale • Relative gains • Zero-sum game • Wider approach: realism

  5. Marxism/radicalism(Karl Marx) • Focus on production • Rejection of capitalism (exploitation) • Class domination (power) • Dependency/world-system theories

  6. Best approach? • Value/ideological judgment – Anglo-American vs. continental/East Asian thought? • Emotional reaction? • Zero-sum game? • Struggle for power? • Abstract models?

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