Internationalization and Domestic Politics Sylvia Maxfield and Stephan Haggard

In Haggard and Maxfield's discussion of institutional financial arrangements I found it easy to relate to the idea of clashing logics for a better understanding of what underlies exchange. It raises questions as to who determines the language of financial transaction and to who validates the success of international exchange? The formation of the GATT, WTO, and World bank have sought to reduce trade barriers in the developing world, yet it strikes me as to believe that its creation was supported mostly by competitive logic and broad social values. Part of the difficulty in Haggards' assessment of the GATT and WTO is how the neo-liberal agenda is defined--a term that is tossed around quite often. Are competitive markets the leading determinant of what it means to be accountable for economic aims and to what extent is trade liberalization a social value? The typologies based on autonomy, the left side of the quadrant, seem to account for the biggest explanations of  capital flow in the course of history. So, is it possible that pure competitive markets and social enterprises have dominated the way economic institutions deal with exchange?

More importantly, this question brought me to their shared position that: "Increasing international economic integration not only changes the distribution of preferences; but it also erodes the effectiveness of governments maintaining controls." This statement in an of itself is one of the complexities of the movement to liberalize and open financial systems to foreign competition. The presupposition of competition also explains how much of the language centers around liberalization, interdependence, and crises. The basic presumption, as the asynchronous material suggests, is that corporate entities act for economy exchange as basic modality whereby a private transaction of goods is done through trade. For me, I continue to see that interdependence of financial markets and responses to crisis centers around the premise of competition in the first place, when we discuss global economic bodies.