By outlining the current global political economy, discuss to what Essay

By outlining the current global political economy, discuss to what extent the current global political economy undermines national development in the South - Essay Example The linkage of international banks, financial institutions, and trade illustrates the difficulties facing current government systems. There are suggestions that the current global political economy is beneficial to the Global South. In this paper, I will outline the extent to which the international political economy has undermined development in the South. With the advent of globalization, the relevance of the role of how nation state should manage economic systems in the development process has taken center stage. The reasoning behind this is that the economic systems presume that there is a political structure. Consequently, this means that development occurs in a global framework; at the same time, it arouses the question of the relevance of individual, national development plans. National development strategies become peculiar when there are other actors in the development process other than the nation state. The importance of understanding the nature of global political economy is because economic systems can not exist without stable political framework. The North- South divide of the world represents the developed and the underdeveloped world. This division can be conceived as ongoing due to the global arrangement of the political and economic systems. The Global North refers to the industrialized countries mainly in the northern hemisphere, while countries in the Global South are mostly found in the southern hemisphere; in Africa, Asia, Caribbean and Latin America (Kegley, 2008). The global political economy took a different turn after the oil shock of 1973. The member countries of OPEC established an oil cartel which saw the price of oil increased dramatically. Marxist offers the explanation that the oil crisis was not caused by OPEC but rather the Nixon administration. This premise asserts that the administration wanted to safeguard the interests of America capital and

No topic Assignment Example | Topics and Well Written Essays - 500 words - 3

No topic - Assignment Example Finally, the overarching application of philosophy in current times were asserted in terms of updating previously archaic topics and issues to make them relevant and useful. These topics include a discussion on three identified areas: medicine, environment, and feminism (Hildebrand). One found the intention to provide a definition of God as interesting; yet still wanting. The definitions that were presented were still very much abstract and readers from a wide range of demographical and cultural background could find it challenging to grasp the concepts being asserted. It was, likewise, commendable to try and explain the different constructs of religion as containing three common elements: a content; a method; and a divine guarantee (Hildebrand). Some ideas which were unique included establishing a link between religion and democracy; as well as affirming that religion no longer plays a significant credible appeal in Western society’s existence (Hildebrand). It could be asserted that the notion was primarily taking the author’s perspective. One strongly believes that religion still plays an active role in contemporary societies’ values and beliefs; as it assists in the formation of values and conformity with moral and ethical standards on a more universal and global scale. However, one finds it difficult to agree with the contention that â€Å"If it can be appreciated that many of our most celebrated achievements have been directly facilitated by a human community (and not by God), then community may provide a powerful source of inspiration for this new, common faith† (Hildebrand 202). One is convinced that human community, by nature, cannot be separated from the purpose of God’s creation. As such, the driving force of human community is still believed to be theologically spurred, especially for very religious groups, like predominantly Catholic nations. The steadfast and firm believe in God has entrenched values and beliefs which emphasize