45 Questions
What is International Political Economy (IPE) primarily concerned with?
Wealth, poverty, and power in the international economic and political system
Which classical theories are considered the most important in the field of IPE?
Mercantilism, economic liberalism, and neo-Marxism
According to classical liberal economists, what is the role of the state in the market?
Leaving the market alone, including international markets as well as national markets: laissez-faire
What is the international economy expected to be based on according to classical liberal economists?
Free trade
According to Marx, what is the basis of society?
Forces and relations of production
What did Marx see as the primary source of capitalist profit?
Exploitation of labor and surplus value
What did Marx view capitalism as destroying?
More exploitative relations of production
According to Marxists, what drives politics?
The economy
What is the primary driver of economics according to mercantilists?
Politics
Who are the two antagonistic classes in capitalism according to Marx?
Bourgeoisie and Proletariat
What do Marxists believe drives states?
Ruling-class interests
What is seen as a more recent manifestation of capitalist expansion compared to imperialism and colonization?
Economic globalization led by transnational corporations
What did Marx and Engels criticize about capitalism?
Despotism and exploitation of labor
What does the Marxist framework for IPE emphasize in international relations?
Role of class conflict in international relations and expansion of capitalism across the globe.
What did the early 20th century see in terms of Marxist analyses?
Emergence of Marxist analyses of imperialism and international capitalist development.
According to Cox's framework, historical structures are made up of which three categories of forces?
Material capabilities, ideas, and institutions
In Cox's framework, what does the term 'social forces' refer to?
The process of capitalist production
According to Cox, what is the long-term tendency for world order?
Replacement of global US dominance
What is Immanuel Wallerstein's key focus in his analysis?
The modern world economy characterized by capitalism
'World economies' as described by Wallerstein are characterized by what type of political structure?
'Decentralized authority residing in multiple polities'
'Forms of state' in Cox's framework point to what aspect of state behavior?
'Ways in which states change in the interplay with social forces'
What does Robert Cox's framework theorize as the interaction between?
Social forces, forms of state, and world orders
What was China's position with regard to a breakthrough to modern capitalism according to Wallerstein?
It was best positioned for a breakthrough to modern capitalism
What did Wallerstein draw inspiration from when discussing a developed core and an undeveloped periphery?
The distinction made by Lenin between developed core and undeveloped periphery
What is the dominant feature of core areas according to Wallerstein?
They contain advanced and complex economic activities controlled by an indigenous bourgeoisie.
According to Lenin, what did he emphasize about capitalist expansion?
The unequal nature between countries, industries, and firms
What was the reason behind Britain's vast colonial empire in the late 1800s?
Its economic superiority over Germany
What led to the demand for a redivision of international spheres of influence at the beginning of the 1900s?
Germany catching up economically
What did the demand for redivision between Germany and Britain lead to?
War
What does Lenin's theory of uneven development call for?
An historical analysis of capitalist expansion
How has the nature of economic interdependence between countries changed throughout history?
From arm's-length import/export relations to integrated circuits of production between subsidiaries
What do both Marxist and realist perspectives agree on?
Perennial competition and conflict between states
According to Marxists, what are the underlying social forces driving state conflict?
Ruling classes pursuing economic and political interests for international dominance and control
How do realists see history?
As a repetition of states competing in anarchy
How does the state function within the capitalist system according to the text?
It functions within the capitalist system to safeguard it.
Who is a prominent neo-Marxist analyst of world politics and political economy according to the text?
Robert Cox
According to Wallerstein's world systems analysis, which area is economically mixed and acts as a middle layer between core and peripheral countries?
Semi-peripheral areas
What is the basic mechanism of the explanation provided by Wallerstein for the capitalist world economy?
Unequal exchange
According to Wallerstein, what does the transfer of economic surplus from the periphery to the core involve?
Appropriation of surplus value by core areas
What does Wallerstein argue about the development of the periphery in contrast to classical Marxism?
Capitalism retards development
According to Wallerstein, what role does the semi-periphery play in the world economy?
Acts as a buffer or shock absorber
What does Wallerstein emphasize about the capitalist system's hierarchy?
'It remains a hierarchy of core, semi-periphery, and periphery'
What does Wallerstein see as the long-term prospect for the capitalist system?
The demise of the capitalist system due to its contradictions unleashed on a global scale
What are some similarities between Wallerstein’s world systems analysis and Waltz’s neorealist analysis?
They both focus on the system rather than on single units or countries
What is one important difference between Wallerstein’s world systems analysis and Waltz’s neorealist analysis?
Wallerstein focuses on economic power first, then connected with political power; Waltz focuses on relative political–military power in a condition of anarchy
Study Notes
- Lenin, the Communist leader, emphasized the unequal nature of capitalist expansion between countries, industries, and firms.
- Britain had a vast colonial empire in the late 1800s due to its economic superiority over Germany.
- Germany was catching up economically at the beginning of the 1900s, leading to a demand for a redivision of international spheres of influence.
- This demand for redivision led to war between Germany and Britain, highlighting the continuous disparities and conflicts under capitalist conditions.
- Lenin's theory of uneven development calls for an historical analysis of capitalist expansion.
- The nature of economic interdependence between countries has changed throughout history. Around the First World War, it was arm's-length import/export relations between independent companies; today, it is often integrated circuits of production between subsidiaries of the same transnational company.
- Both Marxist and realist perspectives agree on the perennial competition and conflict between states.
- Marxists argue that the underlying social forces driving state conflict are the ruling classes, who pursue economic and political interests for international dominance and control.
- Realists see history as a repetition of states competing in anarchy, while Marxists emphasize the importance of historical specificity.
- The state is a strong actor in its own right, with its own institutions, means of violence, and economic resources, but it still functions within the capitalist system to safeguard it.
- Robert Cox is a prominent neo-Marxist analyst of world politics and political economy.
Test your knowledge of world systems theory, which categorizes countries into core, semi-peripheral, and peripheral based on their economic activities and relationships.
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