By Outlining the Current Global Political Economy, Discuss to What Extent the Current Global Political Economy Undermines National Development in the South.
TABLE OF CONTENT
EXPLANATION AND DEFINITION OF TERMS 03
INTRODUCTION 04
HISTORICAL CONTEXT OF GLOBALIZATION 05
• THE CURRENT GLOBAL POLITICAL ECONOMY 06
IMPACT OF GLOBALIZATION ON THE NATIONAL DEVELOPEMENT IN THE SOUTH 07
• IMPERIALISM AND GLOBALIZATION 08
• SOCIAL AND CULTURAL IMPACT 07
• POLITICAL AND ECONOMICAL IMPACT 07
CONCLUSION 09
BIBLIOGRAPHY 10
EXPLANATION AND DEFINITION OF TERMS
Political Economy
Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy. It developed in the 18th century as the study of the economies of states, polities, hence political economy.
In the late 19th century, the term economics came to replace political economy, coinciding with publication of an influential textbook by Alfred Marshall in 1890.[1] Earlier, William Stanley Jevons, a proponent of mathematical methods applied to the subject, advocated economics for brevity and with the hope of the term becoming "the recognised name of a science."[2][3]
Today, political economy, where it is not used as a synonym for economics, may refer to very different things, including Marxian analysis, applied public-choice approaches emanating from the Chicago school and the Virginia school, or simply the advice given by economists to the government or public on general economic policy or on specific proposals.[3] A rapidly-growing mainstream literature from the 1970s has expanded beyond the model of economic policy in which planners maximize utility of a representative individual toward examining how political forces affect the choice of policies, especially as to distributional conflicts and political institutions.[4] It
EXPLANATION AND DEFINITION OF TERMS 03
INTRODUCTION 04
HISTORICAL CONTEXT OF GLOBALIZATION 05
• THE CURRENT GLOBAL POLITICAL ECONOMY 06
IMPACT OF GLOBALIZATION ON THE NATIONAL DEVELOPEMENT IN THE SOUTH 07
• IMPERIALISM AND GLOBALIZATION 08
• SOCIAL AND CULTURAL IMPACT 07
• POLITICAL AND ECONOMICAL IMPACT 07
CONCLUSION 09
BIBLIOGRAPHY 10
EXPLANATION AND DEFINITION OF TERMS
Political Economy
Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy. It developed in the 18th century as the study of the economies of states, polities, hence political economy.
In the late 19th century, the term economics came to replace political economy, coinciding with publication of an influential textbook by Alfred Marshall in 1890.[1] Earlier, William Stanley Jevons, a proponent of mathematical methods applied to the subject, advocated economics for brevity and with the hope of the term becoming "the recognised name of a science."[2][3]
Today, political economy, where it is not used as a synonym for economics, may refer to very different things, including Marxian analysis, applied public-choice approaches emanating from the Chicago school and the Virginia school, or simply the advice given by economists to the government or public on general economic policy or on specific proposals.[3] A rapidly-growing mainstream literature from the 1970s has expanded beyond the model of economic policy in which planners maximize utility of a representative individual toward examining how political forces affect the choice of policies, especially as to distributional conflicts and political institutions.[4] It
Bibliography: 1. William K. Tabb (2005) : Capital, Class and the State in the Global Political Economy 2. Marshall, Alfred 3. Jevons, W. Stanley. The Theory of Political Economy, 1879, 2nd ed. P. XIV 4. Saleh M 5. 'IMF Builds on Initiatives to Meet Challenges of Globalization ', IMF Survey, 26 Sept. 1997, 1. 6. Trevor Manuel (ex 8. Ian Linden, A new map of the world (London: Darton Longman & Todd, 2003) 9. Apolo Nsibambi, A (2001) “The effects of globalization on the state in Africa: Harnessing the benefits and minimizing the costs 10. Bienefeld, Manfred, 1994, ‘the New World Order: Echoes of New Imperialism’, Third World Quarterly, 15(1): 31–48. 11. Chase-Dunn, Christopher et al., 1994, ‘Hegemony and Social Change’, Mershon International Studies Review, 38(2) (October): 361–376. 12. Petras, James and Henry Veltmeyer, 2001, Globalization Unmasked: Imperialism in the 21st Century, Halifax, Nova Scotia and London: Fernwood Publishing and Zed Books.