International Relation- PED Essay Example | Topics and Well Written Essays - 1500 words

International Relation- PED - Essay Example growth of the political economy of development enables the exposure of the interconnected topics, ideas and the role played by such ideas towards shaping a country’s development aspects. The assignment is put together in order to provide an understanding platform of the existing literature on economic development studies. The work is organised in a way that will elaborate more on the Post-war consensus that took place from 1950s and in the 1960s. During this period, the ideas portrayed in the literature indicate that they were focused on the theory of classical dualism. This particular theory led to the development of policies that were concentrated more on the creation of the suitable pre-conditions to facilitate development. The study will shed light on the event of increasing awareness, and the role played by advancing ideas. The ideas were resulting from the reducing reliance on the state of developmental and the increasing dependence on structural adjustment lending that will be assayed. In reference to Ranis (2004), the previously ignored sub-field of development economics was reinvented between the 1950s and the 1960s. During the time, the current models of the economy were deemed only to offer insights that were rather limited towards solving the challenges facing the third world. The Keynesian, Solow, and Harrod-Domar were the dominant economic models at the time. However, the ideas in these theories have little relevance for most societies. In accordance with Cairney (2012), the ideas incorporated in this literature are more of connected to the business cycles and other steady-state properties. In a more specific tone, the contemporary development models are viewed as related to the advanced countries. The Keynesian theory, for instance, has an abstract theoretical construct that abides by the abundant assumptions portrayed by the macro- theory of neo-classics. Contemporary development ideas also focused on full employment, perfect competition, and

Should Global Interests Be Placed Ahead of National Interests Essay

Should Global Interests Be Placed Ahead of National Interests - Essay Example This proliferation of globalization has totally changed the concept of business, and its role not only in defining the respective economies, but also shaping cultural, political and social values. It is argued that we are fast losing our unique identity and the concept of global citizenship instead of nationalist attitude is fast gaining momentum. Global identity has transcends all geographic boundaries and has defined mass behavior and consumption patterns. It has resulted in globalization of businesses, economies, societies and even to some extent, globalization of human capital. This paper aims at studying whether global interests should be given priority over national interests? What is more beneficial? Is there any clash between the interests of the two? Discussion Globalization is argued as the most contested concept that refers to the shrinkage of time and space. Manfred Steger defined globalization as â€Å"A social condition characterized by tight global economic, political , cultural and environmental interconnections and flows that make most of the currently existing borders and boundaries irrelevant.† There can be many different social manifestations of globalization. One perspective can be about individualism, competition and capitalism while other can be about cooperation and communal norms. It gives globalization an indeterminate character. The term globalization refers to a social process that transforms our present social identity that is bounded with nationality into a global identity. What we observe today is global cities like New York, London, and Tokyo etc that has transcended regional, local and national boundaries. This global imagery is growing people’s perception of belonging to a global community (Steger). What we are experiencing right now is a period of global change. People all around the globe are affected by common economic, political and social and environmental changes. Hence globalization has economic, social and environmental dimensions. These global changes include increased competition, fluctuating interest rates, advancements in technology, ecological and climate changes, the fall of communism, rise of China, and the growing ethnic violence. Each individual is affected in some way by all these global changes. These global changes have made the globalization inevitable. These interconnected global change are neither omnipresent nor a uniform process. Its impact has also varied greatly in intensity from country to country to country and individual to individual. Its implications are often unexpected and consequences can be good or bad depending on the setting (Schaeffer). Globalization makes the distance or location irrelevant or at the least very less important. Ideas, technology, books, capital and human resource etc has transcended all geographical boundaries. It travels very easily, fluidly at an unimaginable speed. In fact its geographical location has become irrelevant, and it even d oes not have to move from one place to another. The main driving forces behind this aspect of globalization are technological and economic forces. This delocalization aspect of globalization has its political and cultural implications as well. It includes all aspects and manner in which social life is alienated from its local context. Vulnerability of national boundaries has also increased as a result of globalization. Flow of capital, knowledge