WORLD 101 Internal System Offers a Large Portion of Total Wealth & Power Essay

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PART I – In approximately 2-3 sentences, answer all 9 questions

1. According to Friedberg, in his article about the future of globalization, what does “hegemonic stability theory” tell us about the global economy?

2. What does Friedberg mean by “Globalization 1.5?”

3. What is the difference between a tariff and a quota? Why do states use these policy tools?

4. What are some of the consequences of the fact that the U.S. dollar is the dominant currency in international trade and investment?

5. What is the “human development index?”

6. According to Dani Rodrik, what is “Globalization’s Wrong Turn?”

7. What was the ‘gold standard?’

8. What is Barry Lynn’s primary criticism of globalization in his article “Antimonopoly Power?”

9. What are some of the factors contributing to the current “supply-chain crisis?”

PART II. Please answer ONE of the following questions. 3-4 typed pages would be an appropriate length.

1. a) Using Friedberg’s article and the Power Point slides, discuss the historical development of globalization.

b) In the last sections of his article, Friedberg discusses 5 possible futures for globalization. Which of those futures do you think is most likely, and why?

2. The Haass book, the World 101 modules and the Power Point slides discuss the three main topics in international political economy: trade and investment; currency and monetary policy; and development. Choose TWO of these topics, and explain some of the important issues and debates in each.

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