Whither global governance? 1

FAITH & DOUBT HOPE & FEAR 2

Religion and Science RELIGION & SCIENCE both respond to mystery *Important questions* lead us to both religion and science Paul Tillich, The Dynamics of Faith, p24 (HarperOne 2001): Doubt “is always present as an element in the structure of faith.” Religion: –In spite of all doubts, we have faith Science: –In spite of all evidence, we have doubt So religion vs. science is *not* about “faith vs. proof” But faith vs. skepticism Science offers no end; religion offers faith Both values are important: –Science good for pushing for more progress –Religion good for addressing all of science’s failures 3

Applying our IO lessons to your lives In science, we have the luxury of continuous doubt In religion, we have the luxury of faith In policy-making, there are no luxuries You’ll need evidence, skepticism, and faith! 4

Whither Global Governance? 5

One Love “Let’s get together to fight this Armageddon so when the man comes there will be no doom” Practical lesson: Cooperation results from “Armageddons” …hopefully to avoid the next one! 6

1929 vs

Is this a “Bretton Woods” Moment? 8

Treaty of Versailles (1919–20): League of Nations Keynes begins discussions on an “international loan” 1918 Stock Market Crash! World War II ( ) United Nations (1945) Bretton Woods: IMF/World Bank (1944) GATT: 1947 Smoot-Hawley (1930)  Beggar-thy-neighbor years from crash to institutional solutions…

Latin American Debt Crisis (1982) 1980 Tequila Crisis (1995) 2008 Financial Crisis “Bretton Woods” moment… 2023?... Or beyond? East Asian Financial Crisis ( ) 2023? Lay out architecture now, so we’re ready when it comes…

Think Big about Global Governance! 11

Regionalism before globalism? 12

Is regionalism our future? Customs Unions: A real sacrifice of sovereignty Common tariff policy with rest of the world 13

Currency Union: Sacrifice of monetary policy 14

Baby steps Asia –Asian Development Bank –ASEAN + 3 –Chiang Mai Initiative –Asian Infrastructure Investment Bank (AIIB) North America –NAFTA 15

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Main IO take-away from the class: Narrow and deep  Broad and deep may be more effective than Broad and shallow  Broad and deep 17

Think big about global governance changes We’re part of an ongoing global conversation New multi-polar world 18

Faith… Distributions And what you’re doing to shape yours… 19

Typical “uniform” or rectangular distribution (histogram) Frequency PoorLow- income Lower- middle MiddleUpper- middle High- income Rich 20

Typical symmetrical distribution (histogram) Frequency PoorLow- income Lower- middle MiddleUpper- middle High- income Rich 21

22 INCOME? SUCCESS? HAPPINESS?

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What are you doing in college? 25

Implicit throughout the class Theory –Philosophy (from ancient to modern thinkers) –Logic (game theory) Empirics –Data (qualitative, quantitative) History Statistics 26

To understand international relations You need a broad liberal arts education 27

Undergraduate education & the 3 r’s readin’ ’ritin’ ’rithmetic Broad education… 28

Skills Become well-read Learn to write well Learn statistics Learn a foreign language (fluent!) 29

Breadth of undergraduate education & life opportunities Breadth of undergraduate education Life opportunities 30

Graduate school is different (not harder) Fewer hours in class, more hours studying Greater opportunity costs Grades not important Be focused! Statement of purpose 31

Writing First sentence – most important! Organize your argument into sections –What is the question? –What is your answer (or what is the debate)? –What is your methodology? –What is your evidence? –Why should we care? Lay this out in the 1 st para Return to each in its own section (paper outline): 1.Background literature 2.Your theory/argument 3.Method 4.Evidence 5.The intro/conclusion should answer the “so what” question 32

Relationships Letter of recommendation Network of friends Georgetown –Amazing 33

Next step: “What are you going to do when you graduate?” = “How are you doing?” = “Hello” I.e., well intentioned but vacuous question Don’t let it bring you down! No one 22 what life will present them 34

What do we know? 35

Distribution of opportunities before education 36

Distribution of opportunities after education 37

You have bright futures 38

YOU ARE GEORGETOWN! Privilege Thank you 39

Thank you WE ARE GLOBAL GEORGETOWN! 40