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What is IPE?. IPE. Economics. Politics. Which comes first?. Economics in the real world. Theory and IPE. Power. Trade and IPE. Money and Finance. Gender. Ecology and IPE. Globalization and…. Power Equity Legitimacy. IPE, values and the fundamental questions. The origins of IPE.
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What is IPE? IPE
Globalization and… • Power • Equity • Legitimacy
The origins of IPE • Marxist political economy • The 1970s and ’80s • Critical thinking
Susan Strange and IPE • The desert island scenario • Values • States vs Markets Markets States
Important Questions in IPE • 1) Underlying values? • 2) Power - who holds power? How is it used? • 3) Bargains - Between states? Between states and market actors? • 4) Authority-market balance and interaction? • 5) Costs and benefits of economic processes?
Important Questions in IPE • 6) Change - what drives change, what kind of change? • 7) National-international linkages? • 8) International cooperation - problems, institutions, processes? • 9) Leadership in the international political economy - who provides? How? Is there a demand for leadership? • 10) Stability - is it desired? Who provides?
Why are states so important in IPE? • Centers of political power • Centers of economic power • Control over military force • Centers of research • Representatives of the people (elected?) • International organizations and cooperation • THE NEXUS BETWEEN THE DOMESTIC AND INTERNATIONAL
Important non-state actors in IPE • Multinational or transnational corporations • Oil companies • Financial institutions • Business associations • Research organizations • Consumers and consumer organizations
The importance of history • To understand the present and future we must understand the past - how did we get here? • Key events and defining moments • Lessons from history
Which issues are important to you? • Opportunity • Freedom • Growth • Development • Environment • Gender • Justice
The Development of the International Economy • Traditional societies and economies: ancient Egypt, Africa, Greece, tribal • 16th century Europe: expansion of trade, role of governments • 19th century Europe: trade liberalization, development of international finance • 1914-1945: breakdown of international trade and finance • 1945-2001: trade and financial liberalization