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Unit 11: Chaos and Crisis in Global Economic Governance


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Title: Unit 11: Chaos and Crisis in Global Economic Governance

Unit 11 Chaos and Crisis in Global Economic
  • Dr. Russell Williams

  • Required Reading
  • Cohn, Ch. 12.
  • Class Discussion Reading
  • Tony Porter, The Democratic Deficit in the
    Institutional Arrangements for Regulating Global
    Finance, Global Governance, Oct-Dec2001, Vol. 7
    Issue 4, pp. 427-440.
  • Robert Wade, Should We Worry about Income
    Inequality, in Held and Kaya eds. Global
    Inequality, Patterns and Explanations,
    (Cambridge Polity Press, 2007), pp. 104-132.
  • Conclusions the Challenges of Global Economic
  • Globalization
  • North-North Relations
  • North-South Relations
  • Class Discussion
  • Essays . . . .
  • Final exam . . .

1) Conclusions the Challenges of Global
Economic Governance
  • Thematic issues central to IPE
  • Globalization
  • North/North Relations
  • North/South Relations
  • Each substantive area (trade, finance,
    development etc.) is subject to theoretical
    debate around these analytical concerns

  • Globalization
  • Extreme views see globalization as a fundamental
    reordering of international politics
  • markets replacing role of state and politics as
    principle structure
  • E.g. Neo-liberals
  • More moderate views see globalization as
    intensified interdependence in which new actors
    (MNCs and civil society groups) help create a
    new kind of global politics
  • Interconnectedness of domestic and
    international issues
  • Some suggest globalization is asymmetric it
    impacts some state more then others
  • E.g. Realists, dependency theorists etc.

  • Globalization key topics of debate
  • Impact on states, state power and domestic policy
  • Evidence Trade regime, finance regime etc. . .
    . .
  • Conceptually difficult argument states are
    often the architects of these processes . . . .
  • Globalization and the democratic deficit
  • E.g. Porter
  • Impact on economic inequality and poverty
  • Globalization is associated with orthodox or
    neo-liberal policy recommendations
  • considerable debate about whether globalization
    is good for poverty and inequality
  • Most liberals argue that globalization is good
    for economic growth and development, but may not
    have helped deal with poverty (e.g. Cohn)

  • North/North Relations Key topics of debate
  • All topics illustrate cooperation and conflict
    amongst the north . . . .
  • E.g. The Doha Round, the G20 Reregulation of
    Finance, PTAs etc. etc.
  • Is the US still hegemonic? Or, can the US
    lead/manage global interdependence?
  • Is management easier when the tools of
    coordination are markets as opposed to state
    regulation and negotiation
  • E.g. the non-rules of global finance
  • Limits the kind of global coordination we
    will get
  • How is the distribution of power changing?
  • Cohn sees all this as a question about who will
    replace the US?
  • But what if it is no one?
  • Can international institutions manage things on
    their own?

  • North/South Relations Key topics of debate
  • All topics illustrate conflict between the North
    and the South
  • E.g. The Doha Round, the trade regime, financial
    regulation, management of the debt crises . . . .
  • Key Issues
  • Development . . . .
  • Reform of international institutions
  • WTO
  • IMF
  • G20

1) Essays
  • Essays submitted on time Average grade 70.1
  • Office hours Tuesdays, Thursdays and Friday
    (1200 to 100) SN2031
  • Grading scribbles
  • awk or awkward the sentence is
    grammatically incorrect/hard to read and
  • source you need a supporting citation to
    explain where the information you are providing
    comes from
  • run on sentence needed to be broken into
    separate sentences
  • new para each new idea or argument requires a
    well organized, stand alone paragraph multiple,
    different ideas or arguments in a paragraph
    obscure your point
  • ? your statement is unclear or appears to be
    inaccurate, and needs a supporting citation
  • I have not corrected all grammatical problems,
    particularly if there were many of them . . . and
    these kind of technical problems are not the big
    consideration in grading
  • Try not to take the red ink personally it is
    about doing it better next time
  • However, stylistically, everyone needs work!

  • Common problem areas that need improvement
  • Argument style Theses are often left hanging
  • Each paragraph in your essay should relate to
    your thesis statement/central argument
  • Too many papers lacked a thesis this year, or did
    not clearly state their thesis until the
  • Several papers failed to make a link to IPE
    theory . . . Read your syllabus!
  • Research Most was very good but . . . .
  • Using the textbook as evidence to support a
    factual claim about a topic is not really
    research, however . . . .
  • Encyclopedias etc. are poor sources out of a very
    specific context
  • Web site sources of unclear provenance are not
    compelling evidence unless you clearly identify
    the authoring organization etc.
  • Sources and citation systems Again, most do this
    well, but everyone could improve . . . .
  • In many instances more evidence and citations
    supporting your points is more compelling . . . .
  • Writing

4) Final Exam
  • Tuesday, April 12 900-1100am SN2036
  • Final exam is cumulative
  • Eight definition questions do seven of them
  • Two essay questions you will have choices on
    which you answer
  • E.g. a) 1 of 3
  • b) 1 of 3
  • Focus on thematic issues raised by discussion
  • Good answers
  • Have a clear argument
  • Show a clear understanding of concepts
  • Make use of arguments presented by the readings
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