This document provides an introduction and overview of the subject area of International Political Economy (IPE), detailing its evolution, theoretical approaches, and key historical contexts.
Key Sections:
Introduction to IPE:
Defines IPE as the study of interactions between markets and po...
the study of interactions between markets and politics
o the influence of markets on politics
o the influence of politics on markets.
World Economy: Pre-1914
Mercantilism
o Political power equated with wealth, and vice versa
Extension of global markets
o Industrial revolution and technological advances
o International division of labour (Colonialism)
Yet fundamental composition and direction of international trade
remained unchanged for ~ three centuries
o Tariffs were a barrier to goods trade
o Capital and people moved freely
Gold Standard
o Fixed exchange rate
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