Applied English for International Politics
Review of Professor Chamber's lecture on Chapter 14, Part 1( Oct. 30)
The International Economy

There are three main theories of international political economy

1 -Economic Nationalism

2 - Economic Internationalism

3 - Economic Structuralism

Sort the following characteristics into the three types by putting "1", "2" or "3" next to the characteristic

___ has been popular for hundreds of years

___ the idealist approach

___ a state should use its economic resources to advance its national interests (e.g., factories should be used to make the country more powerful economically)

___ a state should use its power to build its economic strength (e.g., to get oil)

___ the aim (goal) is to maximize state power in order to improve state interests

___ the main actors are individuals, MNCs and IGOs

___ uses strategies of imperialism (conquering other countries), economic incentives and disincentives, and tariffs and subsides

___ economic structure determines politics; e.g., if a country is capitalist, the country will be democratic

___ a "free trade" approach

___ a belief that international economic relations could and should be cooperative and that prosperity is possible for all people in all countries

___ belief in the "zero-sum game" (one country can become a stronger economy only if another country looses economic power

___ tariffs, subsidies, sanctions, etc. are bad

___ associated with capitalist ideas: law of supply and demand

___ supports of this theory want IGOs, especially the World Trade Organization, to try to get countries to adapt capitalism and free trade and made trade fair

___ associated with Marxist theory: economic determinism, historical necessity, need for violent revolution

___ states are not the most important policy makers

___ the realist approach

___ the world's rich countries ("the haves") are exploiting the poor countries ("the have nots") and don't want the poor countries to improve their economic situations because the rich countries want cheap labor

___ revolution is needed to completely restructure (change the organization) the world's economic system

___ the best way for countries to prosper is to separate economic interchange (international trade and markets) from politics

___ associated with dependencia theory: (1) exploitation of LDCs by EDCs is indirect (EDCs need for raw materials, markets, investment opportunities, and cheap labor, and (2) dependence of LDCs continues in part by making sure international economics benefits the EDCs