global political economy - Running head Global Political...

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Running head: Global Political Economy 1 Global Political Economy Name Professor Institution Date
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GLOBAL POLITICAL ECONOMY 2 Introduction If one needs to understand global development, it is crucial that they need to understand politics. It is because there is a strong mutual relationship between economics and politics and in order to know the role played by the international political economy in global development, it is imperative to understand first what international political economy is all about. International political economy (IPE) is an academic subject within political science that evaluates economics and international relations. It is also commonly known as the global political economy (GPE). It is concerned with the distribution of wealth, power, and agency in the frequently changing and contested world context. The global political system tries to find answers to questions, such as what policies hinder the distribution of capability in the world? What is the association between politics and economics, states and markets? In addition, who gets what how and why? Through global political economy, we will seek to understand how it leads to global development by studying three primary theories, that is, Marxism, Liberalism, and Realism. These theories have a cause and effect of the global political economy and therefore, it is significant to understand them because they contribute to global development. Global development is an important aspect of the global political economy as it examines the international relations concerned with the eradication of poverty, provision of employment and improvement of education levels all over the world. Factors that measure global development include the per income capacity and gross domestic product level of a country, the literacy levels, maternal and infant survival rates, political freedoms in the country, an increase of life expectancy levels and the respect of human rights in the nation (Palan, 2013). In addition, it is very important for global leaders to study and understand the influence all the theories have
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GLOBAL POLITICAL ECONOMY 3 on global development when constructing and executing their policies. This term paper will only discuss the Marxism and liberalism and their relationship with the global political economy. Thesis statement Global development is a long-term and sustainable means to the improvement of the quality of life for the global community. In-depth research and analysis of the contribution, principles, and relevance of the theories of Marxism and liberalism address global development. The term paper will use the Marxism and liberalism theory to show how they support or neglect global development and conclude that liberalism is the best theory that contributes to global development.
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