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Bolivar's economic thinking leaned towards free trade with a "larger role" for the State than classical liberalism, but did allow some protectionist tariffs. His finace minister Jose Rafael Revenga: "our country will develop mining before manufacture"

Bolivar's order to pay the troops with confiscated land is thwarted by Congress, that realized the payment in land vouchers. Warlords get hold of their soldiers's vouchers (paying as little as 5% of real value) and become a new landed aristocracy.

February 1819. Bolivar takes his constitutional proposal to the modest goverment hall of Angostura. It is based on the British parliamentary model, and features a hereditary based on the House of Lords and the stablishment of a fourth branch of goverment, the Moral Power. These two innovations do not pass,but Bolivar is elected President. There is not much country to preside over, with Caracas in royal hands.

Bolivar comes back from exile to deal with chieftains that are exploiting racial tensions to hold on to their local power. Bolivar tries to put and end to it by executing one of these caudillos: Jose M Piar.

February 1819. Bolivar takes his constitutional proposal to the modest goverment hall of Angostura. It is based on the British parliamentary model, and features a hereditary based on the House of Lords and the stablishment of a fourth branch of goverment, the Moral Power. These two innovations do not pass,but Bolivar is elected President. There is not much country to preside over, with Caracas in royal hands.

Bolivar comes back from exile to deal with chieftains that are exploiting racial tensions to hold on to their local power. Bolivar tries to put and end to it by executing one of these caudillos: Jose M Piar.

Social unrest among blacks and pardos, the rise of the llaneros headed by Boves and Morales, and the interests caudillos like Piar, and even the formerly trusty Jose Felix Ribas. At San Mateo, Campo Elias was killed and Ricaurte blew himself up with the arsenal. Feating Boves, refugees march eastward. Bolivar sails to exile again; in Nueva Granada he will fail to recover Cartagena. Defeated, he'll sail to Jamaica.

In three months, Bolivar completes his Admirable Campaign and takes Caracas. Meanwhile in the East a group lead by the ruthless caudillo Santiago Mariño defeats the royalists at Maturin, Cumana, and Barcelona. On jan 2 1814 he is granted supreme power by an assembly, but rules only half of the country.

Bolivar ends a short exile in Curacao and settles in Cartagena. His Manifesto to the Congress explains why the First Republic failed, specially blaming Miranda, the quake and the govt for failing to supress rebels in Coro before they could expand. He was given a small post on the Magdalena river and took it upon himself to clear it for navigation. Thus he was granted an army to invade Tachira and Trujillo.

Bolivar and Miranda start growing apart. Miranda marginalizes him, he is "dangerous". Monteverde, a Canarian officer with a strong hatred towards the white elite, leads a small army from Coro and recovers Western Venezuela for Spain. Miranda, with a larger army, signs a capitulation with Monteverde and tries to flee to Curacao. Bolivar and others arrest him, considering him a traitor.

Bolivar, Miranda and Andres Bello meet in London with the foreign affairs Minister, Marquis of Wellesley. He impresses Wellesley but does not convince him to supply weapons for the Venezuelan government. However, the British Navy will be neutral. Bolivar then paves the way for Miranda, discriminated by criollos for his Canarian origin and old age, to come back as a leader of the movement.

1808. Napoleon takes Spain, the house of Borbon, to whom Venezuelan elites were loyal, falls. Two tears later, while pro-Borbon gentelemen depose captain-general Emparan, Bolivar remains away. The junta that rules Venezuela is split among those holding power for Fernando VII, proponents of home rule within the Spanish empire and radical independence proponents. Bolivar offers his service as a diplomat -they agree.

As a kid, Bolivar would resist authority, wandering the streets to play with kids of lower classes. He hated his uncle and probably, his teacher Simon Rodriguez also. He was sent to militaty training at 14, then to Europe where the marquis of Ustariz became a father figure/intellectual influence. He married and widowed before the age of 21.

After the Bourbon family took the crown in Spain, venezuelan criollos saw their relative self-government disappear, with criollos being displaced by Spanish bureacrats. However, Venezuelan whites were not enthusiastic about revolting for fear of losing their slaves. 3/4 of the society was composed of pardos (mixed race but free) and Canarians, discriminated against for racial and socioeconomic reasons.

Three main categories in which scholars work in Intl Pol Ec: ---Liberals. Emphasis on the benefits of voluntary exchanges between states/individuals. ---Marxists. Extend class analysis to the global economy, as First World vs Periphery ---Realists. All socioeconomic actors subordinate to sovereign nation-states struggling for power. They believe the global system is stable when one hegemonic power exists.

The two dimensions shape four perspectives in the study of political economy: a) the international political view (focus on conflict between states); b) the international economic view (focus on global socioeconomic factors shaping policy in every state); c) institutionalism (emphasis on domestic policymaking) and d)societal view, that emphasizes economic and sociopolitical actors over political leaders.

Two dimensions shape the trends in Intl Political Economy: 1. To what degree national/domestic considerations overpower global considerations; and 2. What is the importance of political institutions and leaders relative to the different groups and economic forces in society.

Davidson examines the US 2008 financial crisis in light of Keynes Liquidity Preference Theory: mortgages, packed into MBSs, were sold as "highly liquid", or "cash equivalents", but the financial firms did not guarantee their so-called liquidity by acting as market makers. When the inverstors became bearish, the orderliness of the MBS market was disrupted rendering those assets illiquid.

Davidson tells the story of how Paul Samuelson, who called himself a "Keynesian", maimed Keynes's GT by assuming neutral money and ergodicism in his Foundation of Economic Analysis. Keynes will be rediscovered, he thinks, when a new Great Depression hits the world and economists stop playing with "computer games". "Post-Walrasians prefer playing ... games so they can be precisely wrong instead of roughly right."

In 1944, at Bretton Woods, Keynes argues that "free trade, flexible exchange rates and free capital mobility across international borders is likely to be incompatible with the economic goal of global full employment and rapid economic growth."