1. Globalism assumptions It is necessary to understand the global context within which states/other entities interact Stress importance of historical analysis Particular mechanisms of domination exist- uneven development Economic factors are absolutely important

2. Global and pluralist common points Stress an approach to IR grounded in political economy Attuned to events,processes, actors, institutions operating within/btw.states- greater variety of actors Transnationalist tradition-emphasize socioeconomic and welfare issues

3. Intellectual predecessors Karl Marx- laws of development-dialectical materialism society must be studied in totality Capitalism is a necessary phase of social development

4. Hobson -imperialism, 3 problems in capitalist societies: overproduction, underconsumption, oversavings- solution is to invest in 3 rd World countries Reject Marxist determinism Imperialism benefits a select few in the home country and is a cause of war

5. Lenin Causes of war among advanced industrial countries Lenin borrows Hobson’s analysis Capitalism leads to monopolies which squeeze out smaller firms Imperialism is drawn by economic factors

6. Reformism Eduard Bernstein-social democracy Welfare state Reformism-to control negative aspects of capitalism Division between Reformists and revolutionaries-Bernstein vs. Luxembourg

7. Development studies under globalism NeoMarxist-Latin American development studies Dependency school Modernization theories-linear process of change

8. Ties of development or dependency Trade Foreign Aid Foreign Direct investment

9. Wallerstein-world system theories World-economy vs.world economy World economy presumes the existence of national economies World-economy-there is an ‘economy’ with extensive division of labor-which relate to one another through a ‘market’.

10. World-Economy Is capitalist in form Emerged in the 16 th century Entire globe operates through a singular framework of singular division of labor There is no political entity with ultimate authority over its zones

11. Political superstructure Interstate system with political structures called sovereign states-legitimized Sovereignty implies formal autonomy which are implemented thr. Rules of the system and power of other states in the system. No single state is totally autonomous.

12. World-economy consists of: Core Semi-periphery periphery

13. World-economy operates through cycles Expansion-contraction-Kondratieff cycles Stagnation creates pressures to restructure the network of production processes. Mechanisms of expansion are: Reduction of production costs by relocating Creation of new core activities-innovation Intense class struggle within core and others

14. Core states Control production Control markets Control political dynamics Seek to reinforce the advantages of their production and to legitimitize their role in the interstate system by imposing cultural dominance over the rest of the world.

15. Globalists and realists Focus on the system-in order to understand how states act, we should place in the general structure Both stress power but different sources of power Both equally value anarchy-anarchy is the absence of single world empire for Wallerstein Ramifications of anarchy are different