IR MIDTERM 2 Flashcards

Question

# Defining war For + Waves of Internal War

Answer 1

* Decolonization Process –India/Pakistan, Chinese civil war, Independence movements in South East Asia, the Middle East and Africa (1945-1965) * Cold War- proxy war- East versus West – Wietnam, Indonesia, Nigeria, Afganistan, Angola

Answer 2

Economy- The way in which societies work together to meet their needs under conditions of scarcity

Answer 3

Political Economy- The impact of the political system on the economy, and of the economy on politics

Answer 4

International Political Economy- Political economy on the international level

Answer 5

* International Trade * International investment * Foreign direct investment (FDI) * Stocks and Bonds * International Regulations (How countries internationally agree on standards) * International Monetary Cooperation * Management of Economic Crises * Etc.

Answer 6

* Long distance trade across Eurasia * Towns and Guilds flourish * Trade proved resources for large European armies * Fall of Constantinople 1453 - Spices (most important commodity) -Interruption of trade routes -War between Ottoman and Christian Countries -Major incentive for European explorers to move across the atlantic to find alternate routes * Leds the creation of colonial empires **First Truly Global trade system - 16th Century **

Answer 7

* The Mercantilist Argument for Colonial Expansion * A European View -The more you export the more flow of money into country -Balance of Trade * Extract as much resources from system as possible (through taxing merchants) Colonist Dislike mercantilism’s exploitation of the colonies: * The Boston Tea Party - A protest against the Crown’s Taxes * The intellectual Foundations of Free Trade

Answer 8

Liberalism = Pro free market (Economic thinking–Neoliberalism)

Answer 9

* States should be involved in protecting society from the market * Rising Protectionist Pressures

Answer 10

* Raid Tariffs on exports -Tariff =Tax Economist wrote open letter to gov saying it was a bad idea: * Said other countries will retaliate * US gov ignored it * Resulting with disastrous economic consequences: -Other countries rose Tariffs -World trade plummeted significantly -->German and Japanese economic collapse: Japan- democracy collapsed, militarism took over German- Collapsed

Answer 11

* Consensus that they needed to create a new world order * Representatives from Britain and US met with other western countries to recreate and international liberal order * Created the General Agreement on Trade and Tariffs -Dedicated to free and fair trade -Aimed at reducing Tariffs * Created the World Bank -Dedicated to fostering development -Also focus on rebuilding Europe after the war * Created the International Monetary Fund ( IMF) -Help countries manage their finances * International Monetary System Pillars of the new Liberal economic Order: -The Bretton Woods Institutions - IMF, World Bank -The GATT (1948) -The Fixed Exchange Regime (Bretton woods Regime ) Effects--> * Tariff rates go down -Countries apart of GATT comes together and agrees on tariff negotiations Trade Agenda becomes more ambitious There still are Non-tariff barriers (NTBs): -NTBs do not raise revenue for the home country -They are regulations that block or restrict imports based on local content provisions, environmental and safety concerns, Etc. -Have proliferates as tariffs have gone down

Answer 12

* 1995 WTO (the new liberal international order) * Spread of the WTO -Most countries are members * 2001 China Joins the WTO -Human rights concerns -China joined on provisional basis that was received every year * 2008 Global Financial Crisis Starts -Unexpected -American Investment House and lost of other counties went under -Serious economic impacts -->Decrease in trade -->Drop in employment * Government chose not to raise taxes ***Anti-Liberal Backlash *** * Republicans & Democrats move to an Anti free trade direction after world war

Answer 13

Three Major Perspectives: * **The Neoliberal * The Mercantilist (Realist) * The Marxist (anti-market liberalism)** Liberal Answer 1 -State planning is inefficient and cannot deliver: * Worst disaster ex- Mao; the chinese Great Leap Forward 1959-1962 -The reality of socialist planning: lack of food bc there were no harvesting why still milling, 40 to 50 million starved to death

Answer 14

* Exploiting Comparative advantage leads to greater production * Interdependence leads to peace -Benefits of cooperation increase -Also cost of conflict increase * Fosters Democracy -People become more able to participate in political process -More educated -Democratic Peace Hypothesis -Economic Freedom goes together with Political Freedom Freedom -->Get State out of peoples ideals

Answer 15

Market failures: * Public goods * Negative externalities (e.g. pollution) * Monopolies/oligopolies -Business want to control the price -Eg: Rockefeller and Standard Oil -Globalization may lead to declining standards in developing countries * Business cycle fluctuations and financial crisis * Transaction costs of adjustments

Answer 16

* Drop in consumer confidence -Crisis in terms of their confidence -People stop buying products * Consumer demand goes shown -Businesses have to economize (make changes to accommodate) at business level -->Lay people off * John Maynard Keynes (1883-1946) -British Economist -Argued that the cause of the Great Depression was a lack of demand resulting from a sharp downturn in the business cycle

Answer 17

* Provide public goods– such as education, critical infrastructure * Regulate industry – prevent negative externalities * Break up monopolies * Welfare state to help cushion adjustment costs and aid workers and regions * Intervene when there is a systemic crisis

Answer 18

* Austrian economist 1899-1992 * Argues that governments can’t predict the business cycle * Government propping up the economy creates “moral hazard” and bad growth * Moral Hazard -Tends to favor the powerful -Governments given too much power become tyranny -->Market economy to socialist economy

Answer 19

* Economics reflects political hierarchies * National governments must be sensitive to the political and military consequences of trade and investment (relative gains) * States can foster economic growth working with business -Comparative advantage -Industrial policy * National Power Correlates closely with economic power * US also intent on protecting it industries * Foolish to ignore the strategic consequences of trade

Answer 20

* Administrative Guidance * State subsidies — direct and indirect -Direct- giving direct money -Indirect - through tax policy, technology policy * Cartel policy -Ensuring docile labor force -US promotes its own first while targeting Chinese * Controlling Access to domestic Markets – Tariffs and NTBs * Labor Union Policies

Answer 21

* Remain sensitive to the implications of trade for balance of power -Relative Gains * Support critically important industries * Try to weaken or made dependent the critical industries of potential rivals -Russia making Europe dependent on energy: Gas pipelines turned off by Russia

Answer 22

* The state is the product of the socio-economic order * International organizations are an extension of this order * Leads to Immiseration -Leading to Socialist Revolution * An updated version of Marxist theories of Imperialism – Dependency (world systems) Theory The Terms of trade are manipulated by the powerful : * Core -(core countries keep control and send resources to periphery countries) * Semi-Periphery * Periphery

Answer 23

* Focusing not on countries, but on the elite that benefit from globalization (the elites of society, the powerful rich people) * The role of Multinational Corporations (MNC) -They (the rich) have control over Multinational Corporations (MNC) -Samsung, apple, Amazon -Globalization allows MNCs to sidestep regulations especially in declining developing countries

Answer 24

* Thomas Puketty (book- “Capital”) * An updates of Marxist ideas * Improvement in life expectancy as well * Rising inequality lends credence to this view * Also inequality within the rich countries

Answer 25

* Marx – revolution (violent if necessary) and socialization of the means of production * Neo-Marxist– strong state intervenes to promote social equality -Strong welfare state -Strong regulation -Redistribution tax policies

Answer 26

* Money is a: -Medium of exchange -Unit of Account -Store of Value * People Naturally create money -Fathers in Central America cigarettes in prison cowry shells in West Africa, chuck e cheese coins * Around three thousand years ago States begin to create their own money to support trade and strength state finances -Over time state issued currency displaced other forces of money

Answer 27

* Has the advantage of increasing confidence in currency, encouraging trade and investment both domestically and internationally * A strong, stable currency allows governments to raise money by issuing bonds at low interest rates -Government Bond: Ways in which Government raise money in society -->Governments take loans from the public by issuing bonds→ in return, the investors earn interest income; upon maturity, investors allow earn back the principal -->State borrows from population, says they will give money back at a certain date with interest given for the bond amount they borrowed * London becomes financial capital of the world

Answer 28

* When economic growth is too slow and unemployment is high, governments want to cut interest rates to encourage people to sped and firms to borrow * But when economic growth is too fast and inflation goes up It's time to take away the punch bowl -Central Banks raise interest rates to slow down the economy and reduce inflation, even at the cost of rising unemployment, increased bankruptcies, etc.

Answer 29

* The Gold Standard acted as a limitation of government ability to issue currency –had to have bullion to back it * Critics complain overly limits the State’s ability to respond to changing economic cons * Broke down in 1930s during Great Depression

Answer 30

* The Two rules of financial crisis -Don't Panic -Panic First * Governments can step in to restore confidence * 1944 – The Bretton Woods Fixed Exchange Rate Regime -1- US backs its own currency with stores of Gold Bullion -2 -US like allied currencies to US dollar at fixed exchange rate -Periodic adjustments to the fixed exchange rate negotiated by --the member governments -Became increasingly expensive for the US to maintain -System collapses by 1973 -->Becomes floating exchange rate: A system in which the interplay of the market forces of demand and supply determine a currency’s value

Answer 31

* Headquartered in Washington DC * Staff of 2,400 * 190 countries are members * Provides technical support and supervision of member finances * Helps arrange for liquidity (bail outs) when financial crisis hit * Can lend approximately 1 trillion dollars * Works together with governments and private lenders * Current Director Kristalina Georgieva -Bulgarian Economist -Postgraduate work at the London School of Economics and MIT -Like all IMF directors, a European Conditionality: * The IMF requires recipients of its loans to fulfill conditions (Conditionality) * If the cause of the financial crisis is due to government policies the states need to ender “Structural Adjustment Programs” * Aim is to avoid Moral Hazard and reduce the risk of new crises * Often quite painful

Answer 32

* Headquartered in Washington DC * Staff of about 9,000 world wide * 189 countries are members * Primary focus is making loans to developing countries * Issues about $20 billion in new loans every year * Appx. 200 billion in total loans * Current President David Malpass -Economic analyst and former Government Official under Donald Trump -MBA from University of Denver -Former Chief Economist at US investment Bank Bear Stearns (now defunct) -Like all IMP presidents, a US citizen

Answer 33

* For a long time pushed countries to adopt broadly neo-liberal reforms * In recent years criticized and have move to support poverty reduction, education and tailoring bailouts and loans to specific conditions of recipient countries

Answer 34

* 1982-1985 The Latin American Debt Crisis * IMF loans help tide over the Latin American governments, but austerity causes great social unrest * Latin American per capita growth nearly -9% for a decade

Answer 35

* 1998-1999 * Sudden crisis of confidence in Asian currencies leads to collapse in value of currencies * IMF again imposes austerity, leading to social and political upheaval * Unlike Latin America, low debt levels among Asian countries * Director Michel Camdessues forces Indonesian President Suharto to accept the IMF’s terms * Demonstrations in Korea, Food Riots in Indonesia

Answer 36

* Subprime mortgage crisis shakes the US financial system to the core * US government pumps money into the economy – “Quantitative Easing” * Fear of Financial Contagion (whole economy tanking as Banks fall) * Austerity seems to be for other people in other countries

Answer 37

* China’s Belt and Road Initiative -Announced by Xi Jinping in 2013 -Lending to build massive infrastructure project from China through Central and Southeast Asia to Africa and Europe -Estimates range up to over $900 billion in loans made by 2022

Answer 38

* The Beijing Consensus * Stronger State role in guiding economic development * Focus on pragmatic, step by step reforms instead of Neo-liberal shock therapy

Answer 39

* Debt crisis in developing countries -Sri Lanka in crisis – can’t pay back its debts * Dollar continues to appreciate, which often poses risks to countries with USD-denominated liabilities

Answer 40

* Seen as the paragon of amorality in politics * Niccolo Machiavelli -uthor of “The Prince” * The “is” versus the “ought” * “It is better to be feared than to be loved, if you cannot be both” * Politics is marked by “cunning, duplicity or bad faith” * Italy 1500– Beset by mercenaries, dominated by outside forces – MAchiavelli wants a strong Prince who can save Italy by uniting her

Answer 41

* Enlightenment Philosopher * Although considered anti-religious, he was theistic * Trying to recreate morality for an age of reason * “Categorical Imperative” – there are absolute rules we can discover through reason -Idea that there are certain principles that are universal * All human beings are ends, not means

Answer 42

* How can we know something “objectively” * What to do when our principles (categorical Imperatives) clash -Ex: how well does “though shalt not kill” work if wer are faced with attack by Nazis?

Answer 43

* From “Cosmos” –the world and “polis” the city state –bringing together the many into one world * Ethical position that there are common standards of justice that we can find across the national barriers and within and across political and cultural boundaries * May be based on reason and discourse uncovering universal truths * Globalized world it becomes imperative to find such standards -Working together to create common standards * “Thick” versus “Thin” versions (how far does reason and discord take us?)

Answer 44

* Every state- and every nation- has its own ethical standards * States may agree to ceritna standards, but those are transactional in nature * Claims to universal principle are often the tools of self interest and tyranny * Napoleon Bonaparte -Claimed to be spreading truth and justice -Self-proclaimed Emperor of France and would-be uniter of Europe

Answer 45

* Are there standards of justice in war? * Jus ad Bellum – when is the right to go to war? -Jus in Bello – what is the right to do in war? * How to conduct war * (Jus post Bellum – what should be done after a conflict?) -Standards after the war, justice * The Origins of Just War Theory * Saint Augustine (354-430 AD) * Born into the late Roman Empire * Bishop of the City of Hippo in North Africa * Confronted with invasion by Barbarians – The Vandals

Answer 46

* Just cause (Casus Belli) * Legitimate Authority * Likelihood of Success * Proportionality * Last Resort

Answer 47

* Proportionality * Immunity of Persons (protection of noncombatants) * Weaponry Rules * Prisoners of War

Answer 48

* Certain stereotypes of what it is to be a “man” or to be a “women” become embedded in a society * Has economic, social, and political consequences * Can impact on International relations in multiple ways

Answer 49

* Starting Point – Traditional Western Patriarchy * Male Stereotype - dominant outside the home as breadwinner, soldier, political, spiritual and intellectual leadership roles reserved for men * Female Stereotype - subservient inside the home, focus on (unpaid) domestic household * Limited or zero tolerance for non-binary Genders (LGBTQ+)

Answer 50

* Mary Wollstonecraft 1759-1797 * Jeremy Bentham 1748-1832

Answer 51

Growing Education level of women leads to increased political power : * 1848 Seneca Falls Convention –rights for women * 1872- Formation of the Suffrage movement in the UK * 1718- Limited suffrage in Sweden * 1918- Suffrage in UK * 1920- Suffrage in the US * 1971- Switzerland

Answer 52

* Increased education enables women to enter the workforce * Acceleration during the World Wars

Answer 53

1947 – The Universal Declaration of Human Rights

IR MIDTERM 2 Flashcards

(77 cards)