ESSAY QUESTIONS
Discuss the laissez-faire and Keynesian schools of macroeconomic management, respectively. How do those approaches apply to the international economic systems of the pre-Bretton Woods and Bretton Woods systems? Using levels-of-analysis account for the transition from the laissez-faire to Keynesian approach, post-war. Was that transition warranted, in your opinion, from the standpoint of IPE? Explain.
The transition from management to governance in international economic relations has been said to have gone through three phases, according to Spero and Hart: Bretton Woods, Interdependence and, Globalization. Discuss the principal variables at each level-of-analysis that you believe account for the demise of one phase and, the onset of the succeeding one. Do variables at the same levels lead you to believe that a new phase is on the horizon? Why/why not? How might the prospects of a new phase be affected by the US presidential vote on November 8?
Discuss détente. What effect did détente have on the character of the international economic order? On balance would you say that the advent of détente was a net positive or, negative in international economic relations? Was the end of détente, similarly, a net positive or negative? Explain.