Tuesday July 2nd 2015

 The Developed World: ◦ “Industrialized nations that are part of the structurally integrated system of global capitalism (primarily Western Europe, North America, Japan, Australia and New Zealand” – Maclean and Wood  Also termed developed states, industrialized world the Global North or the First World  Comparative Politics: ◦ The process of studying similarities and differences across states and (sometimes across time, region or type of government) ◦ Process can be inductive or deductive

 While wealth is often viewed as the differentiation of states, economic well- being/status is a relatively new phenomenon ◦ In part due to the post-war boom and the rise of the welfare state ◦ Economic well-being is a limited measure – doesn’t account for ‘real’ development: democracy, freedom, equity/equality of genders, religions, ethnicities etc.  The Three world’s  The Post-Industrial Economy

 Little overt interactions between states as it relates to trade (more war-like)  The interwar period was an autarky: ◦ A period of isolation and an attempt to be self- sufficient  The lack of interaction resulted in serious economic consequences and distrust

 Colonialism: “Ownership and administration of one area over another” ◦ Imperialism (and Neo-Colonialism) ◦ Failure of Mercantalism and the cost of administration of far-off places

 Developed states worked to avoid further autarky  Actively sought to engage economic issues and banking from a unified position  Economic growth would ensure peace  An advantageous space for the US and Canada

 A global initiative (sort of) to ensure the economic well-being of states around the globe ◦ A move towards a global welfare state  The World Bank (WB) and the International Monetary Fund (IMF)  The International Trade Organization, the General Agreement on Tariffs and Trade (the Gatt) and the World Trade Organization