Papers on ""Understanding International Political Economy"" and similar term paper topics
Paper #058954 ::
"Understanding International Political Economy"
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This paper discusses Ralph Pettman's book, "Understanding International Political Economy," the most popular international political economics textbook.
Written in 0; 1,420 words; 1 source; MLA;
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Paper Summary:
This paper explains that the main themes of this book are three theories of international economics described in a historical order according to the epoch when they were first introduced: mercantilism, liberalism, and Marxism. The author points out that it is difficult to find a country where these theories of political economy can be realized clearly in daily practices; the processes of globalization, goods exchange, industrialization, and development of social infrastructure within one country and within the world economic community have proven that only an integral model of economical development can be applied in the realities of today. The paper states that, even though Pettman succeeded in describing three main concepts of political economy, the work lacks an explanation of modern events, and the reading would be more fruitful if there was more information included about countries with transitional economics, such as China and the former socialist states.
From the Paper:
"Mercantilism considered the wealth of the society to be in accumulation of money (silver and gold). According to the concept of mercantilism wealth and prosperity could be achieved only thanks to the development of foreign trade. The growth of wealth here is obvious: cheap good are sold for higher prices abroad. The problem of economical theory according to mercantilists was the development of the most effective recommendations for the state politics in regulating economics. Mercantilists thought that for the development of favorable conditions for economical growth, the state has to intervene in economics, encourage native industry and trade."
Tags:
mercantilism liberalism marxism practices integral
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