Defining the Global Political Economy Research Paper by johnnyoutsmart

Defining the Global Political Economy
This paper proves that globalization is a phenomenon that occurs within the global political economy and that the former (GPE) can survive and has survived both with and without globalization.
# 58123 | 3,000 words | 10 sources | MLA | 2005 | GB
Published on May 02, 2005 in Economics (International)

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The paper is divided into three sections. The first two sections concentrate on definitions for global political economy and globalization. The different definitions for each are reviewed, and the controversies that surround these definitions are also be highlighted. Each section concludes with an attempt to arrive at a comprehensive and acceptable definition for each of the mentioned phenomena. These are followed up by the third section, which, drawing upon the definitions examined, specifically discuss the differences between global political economy and globalization, demonstrating that, while the global political economy can exist without globalization, the existence of globalization requires the presence of a global political economy.

From the Paper:

"There is a widespread confusion regarding the meaning of global political economy whereby, according to Professor Henry Tuene of the University of Pennsylvania, some believe it to be interchangeable with the term globalization, and others believe it to be so regarding the term international political economy. However, as shall be later argued, there is a distinct difference between globalization and global political economy. As regards the distinction between global political economy and international political economy, it is expressed in the following quote from Professor Tuene: a global political economy, as opposed to a "national or international [one], would fuse rather than separate the normative and the empirical, and would address the main outlines of the future rather than predict marginal, short-term changes" (523). The point that Professor Tuene is making in this quote is that the international economy has, ever since the development of transportation system that allowed trade between nations, irrespective of distance between them, existed for centuries. However, it was an economy that was based on trade dependencies, and a limited amount of capital flow, as Craig N. Murphy explains (515), and not on interdependency between the various national economies of the world."

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