IR203 - Chapter 5 - IPE

What is the focus of International Political Economy (IPE)?

• The study of cultural exchanges

• The interaction of politics and economics globally

• The history of political systems

• Military strategies in economic conflicts

How does IPE differ from traditional International Relations (IR)?

• Focuses on environmental issues

• Emphasizes wealth distribution and economic relations

• Centers on the history of conflicts

• Avoids discussing state sovereignty

Which are the three classical theories of IPE?

• Realism, Liberalism, Constructivism

• Mercantilism, Economic Liberalism, Marxism

• Idealism, Nationalism, Socialism

• Functionalism, Dependency Theory, Capitalism

What is the core argument of mercantilism?

• Economic activity should serve state power, viewing competition as zero-sum

• The market is autonomous and self-regulating

• Class struggle drives state policies

• Global cooperation ensures equality

How has the perspective of mercantilism evolved?

• Focused entirely on military power

• Shifted from bullion acquisition to trade and industrialization

• Prioritized environmental sustainability

• Embraced free-market principles

What do economic liberals critique about mercantilism?

• Its emphasis on free trade

• Its prioritization of state power over prosperity

• Its lack of focus on industrialization

• Its dependence on cooperation

What are the key principles of economic liberalism?

• State control and economic equality

• Class struggle and social welfare

• Market autonomy, free trade, and competition

• Centralized planning and protectionism

What role does the state play in economic liberalism?

• Full control of markets

• Minimal role, focused on legal frameworks

• Active regulation and intervention

• Nationalizing industries

How does Marxism view the economy and politics?

• As unrelated domains

• Politics is shaped by economic relations and class struggle

• Economics as a tool for cooperation

• States as neutral arbiters of policy

According to Marxism, what drives state behavior?

• Independent political decisions

• Interests of the ruling capitalist class

• Nationalist ambitions

• International institutions