1. Unit 11: Chaos and Crisis in Global Economic Governance
Dr. Russell Williams

2. Class Discussion Reading:
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
Robert Wade, “Should We Worry about Income Inequality,” in Held and Kaya eds. Global Inequality, Patterns and Explanations, (Cambridge: Polity Press, 2007), pp
Outline:
Conclusions – the Challenges of Global Economic Governance
Globalization
North-North Relations
North-South Relations
Class Discussion
Essays
Final exam . . .

3. 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

4. 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.

5. Globalization – key topics of debate:
Impact on states, state power and domestic policy autonomy/sovereignty
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)

6. 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”, PTA’s 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?

7. 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

8. 1) Essays: Essays submitted on time – Average grade = 70.1%
Office hours – Tuesdays, Thursdays and Friday (12:00 to 1:00) SN2031
Grading “scribbles”:
“awk” or “awkward” = the sentence is grammatically incorrect/hard to read and understand
“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!

9. 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 conclusions.
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:

10. 4) Final Exam: Tuesday, April 12 – 9:00-11:00am 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 readings
Good answers:
Have a clear argument
Show a clear understanding of concepts
Make use of arguments presented by the readings