Samenvatting
Summary of all lectures of political economy (2020)
- Instelling
- Universiteit Van Amsterdam (UvA)
This document contains a summary of all the lectures of the Political Economy course 2020.
[Meer zien]Voorbeeld 4 van de 91 pagina's
Voorbeeld 4 van de 91 pagina's
In winkelwagengesponsord bericht van onze partner
1 beoordeling
Door: julias2 • 3 jaar geleden
Voorbeeld van de inhoud
Table of contents:Lecture 1 1
Lecture 2 4
Lecture 3 10
Lecture 4 16
Lecture 5 22
Lecture 6 29
Lecture 7 36
Lecture 8 41
Lecture 9 46
Lecture 10 53
Lecture 11 65
Lecture 12 73
Lecture 13 84
Lecture 1
PROGRAM
- Political Economy as a scholarly domain: what is it all about?
- Political Economy as a course: sessions, assessments etc.
Political Economy ≠ Economics
- It is related, but not the same!!!
- No mathematics.
- Rather; the focus is on the relationship between states and markets.
- The political choices underneath the econ models that we see.
- The economic is inherently political; How do we organise the world; thus, inherently
normative.
Political Economy
1. Studies the fundamental interconnection between states and markets
main point of Schwartz: states and markets are not disconnected. one can not exist
in some form without the other,
1
, 2. Understands economic politics as a means for states to achieve their objectives;
make life in the country a bit better.
3. Considers today and tomorrows political economic relations and battles from a
historic perspective.
Economic cycles => upswings, downswings => inherent in economic development,
Econ history can answer; why are some states more likely to develop than others?
Example: The Trade War
Trade war between China and United States
A few pointers:
● Tariffs: when goods are imported into a country, states can levy taxes on these
goods. These arecalled tariffs. And make trade more costly.
○ Tarrifs are increasingly reduced; we live in an economic paradigm.
● There are more goods coming from China to the US than the other way around. So
money flows from US to China (=trade deficit). So US owes money to China. US
pays for all these goods. China holds the debt of the US.
● International trade flows influences the value of currencies (exchange rates)
● Central banks are responsible for monetary policy (in US: federal reserve)
=> It's a battle ground.
=> Economy = politics & politics = economy
=> Trade has consequence of making vulnerable!
=> The economy is inherently political.
=> And much of what is political, is directly related to the economy.
=> PE is everywhere, and everything is PE.
=> But if that is true.... How can you study this?
What is Political Economy?
- POLITICAL ECONOMY I
- The classic thinkers on state and market, and their followers
- POLITICAL ECONOMY II
- The political science of economic policy fields
- POLITICAL ECONOMY III
- Political phenomena considered from an economics perspective
- POLITICAL ECONOMY IV
- Markets and business considered from a political science perspective
POLITICAL ECONOMY I
- The classic thinkers on state and market, and their followers.
- They considered both states and markets, integrated in one academic debate
(political economy).
=> Roots of political economy can be traced back 250 years ago (Smith, Ricardo, Marx etc.)
2
,=> At first economics was only a political economy; the process of wealth of society; what
determines prosperity? inequality? etc. But, also how should state be organised; thus, how
should we organise to ensure prosperity?
The fundamental question: To what extent should the socioeconomic order be the outcome
of coordination either by the market (horizontal through market relations) or by the state
(top-down, hierarchiacal)? What is the source of wealth in nations?
Early 20th century: The Academic Divide
- Political economy was divided in economics and political economy.
=> But some remain in the footsteps of the classics (e.g. Susan Strange)
POLITICAL ECONOMY II
- The political science of economic policy domains.
- Looking at economic policy domains from a polisci perspective.
- E.g. how much regulation?
- E.g. climate change; developmental questions.
- E.g. pensions (deeply political); generational issue.
POLITICAL ECONOMY III
- Political phenomena considered from an economics perspective - kind of polecon
conducted at an economics department.
- What is economics?
- oikos = the family, the family’s property; a large estate or even a village
- nomos = greek term for law.
- the way we organize society to provide for our needs
What is economics? (some definitions)
1. “the branch of knowledge concerned with the production, consumption and transfer
of wealth.” - most authoritative source on earth; google.
2. “a branch of the science of a statesman or legislator with the twofold objective of
providing a plentiful revenue or subsistence for the people.” - Smith.
3. “Combining the assumptions of maximizing behavior, stable preferences, and market
equilibrium, used relentlessly and unflinchingly” (Gary Becker - famous economists)
(neoclassical economy => understanding econ behaviour based on certain
assumptions).
=> A lot has changed over time with the idea of economics; from Smith to Becker.
POLITICAL ECONOMY III
- Political phenomena considered from an economic perspective
- What is economics?
1. A domain
2. A perspective and approach to study social interaction
- demand/supply, competition; rational behaviour; homo economicus;
individualism
3
, - Taking an economic perspective on politics
POLITICAL ECONOMY IV
- Markets and business considered from a political science perspective.
- Power in markets amd business.
- Who wins? who loses?
- What is political economy?
=> PE III will be left mostly to the economics department. But the latter four will all be
studied.
=> Topics in polecon relate to all areas of polisci; a lot of moral philosophy going on
in with polecon thinking.
- e.g. IR and the issue of security; it involves economics (econ-security)
Political economy as a course
- PART I
- The ingredients of Political Economy (1-4)
- PART II
- Developments in Global Capitalism (5-9)
- PART III
- Real World Economics in times of crisis (10-14)
What is political economy?
Lecture 2
PROGRAM
- What is capitalism?
- Four debates that are relevant for studying capitalism
- Classical Political Economy
- The work of Adam Smith
CAPITALISM
- A specific way to organise econ activity
4
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper ETruelsen. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €7,49. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 66579 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen