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GO131: International Relations Professor Walter Hatch Colby College Economic Power

GO131: International Relations Professor Walter Hatch Colby College Economic Power. Old Debate over Economic Power. Mercantilism versus Liberalism. Mercantilism. 16 th to 18 th centuries Gold and Silver Bullion = State Power X > M. Neo-Mercantilism.

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GO131: International Relations Professor Walter Hatch Colby College Economic Power

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  1. GO131: International Relations Professor Walter Hatch Colby College Economic Power

  2. Old Debate over Economic Power • Mercantilism versus • Liberalism

  3. Mercantilism • 16th to 18th centuries • Gold and Silver Bullion = State Power • X > M

  4. Neo-Mercantilism • 19th century economic philosophy • Germany (Friedrich List), U.S. (Alexander Hamilton), and Japan (Ministry of Commerce and Industry) • Promote and protect manufacturing

  5. Commercial Liberalism • Eighteen and nineteenth centuries • David Ricardo and Adam Smith • Gains from trade via specialization

  6. Comparative Advantage

  7. Heckscher-Ohlin Theory

  8. Laissez-Faire

  9. So …Why do governments still intervene in markets? • Classical liberals: domestic politics • Realists: relative gains

  10. Hegemonic Stability(Neo-Realism)

  11. Neo-liberal Institutionalism

  12. The International Economic Order: Fair or rigged? • Realists and liberals don’t care • Marxist theorists do • Leninism • Dependency Theory • Modern World System Theory

  13. Modern World System Theory

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