The political economy is a convergence between economics, politics and laws. It defines the manner in which institutions graduate into different socio-economic systems including capitalism, communism and socialism. The theme of political economy entails a critical analysis of the public policies established and implemented by the national governments or the implementers in general. The roles of government in formulating and executing national policies are important in manipulating different economic policies towards development. However, poor execution process is also characteristic hindrance to development as Zysman argues (Zysman, 1983).
The analysis pursued by Zysman aimed at determining the role of National governments in implementing economic changes that are necessary to fuel growth in a given political bloc. In this regard, this presents an anatomy of the procedures that defines the execution of the public policies. Subsequently, this process provides an analytical perception in governments through its internal and international obligations central to its political obligations (Zysman, 1983). From this perspective, this argumentative essay focuses on the literary focus on the influence of governments at local, regional and international levels to economic growth and developments.
To navigate through this perception of the national governments role towards executing national policies, Zysman uses essay approach that national financial systems manipulate towards realizing effective industrial policy or subsequent factors that hinders its development. The industrial policy of any country offers strategic efforts that encourage growth and development of the countrys manufacturing sector and other sectors of the aggregate economy. Governments take exclusive measures aimed at enhancing economic competitiveness through proficient economy policies (Zysman, 1983). Zysman therefore provides a discrete understanding of the industrial policies that do not only create a long-term development path but also focuses on the factors within governments that often derail the development process through counterproductive process.
The interaction between the local and international business process through market enhancements and development is critical to enhancing economic advancement. These processes are very important in enhancing international developments. The dynamic nature of the global economy has been a major contributor toward success or failures on individual national economies operating as open economies. Through the three financial systems namely: financial markets, governments and the industry are critical to championing growth if well executed devoid of other negative market deterrence (Zysman, 1983).
On the contrary, Cabrera focuses on the individual roles in perpetrating development. The concept of human rights issues and the ultimate role that individuals pray in enhancing economic growth and development is key to ensuring fast rate development as well as manipulating the micro-economic environments toward which is the main root to development. Through analytical essay approach just like his counterpart Zysman, Cabrera provides a theoretical framework that enhances understanding of the role of human rights and individual perspective of people in enhancing growth as opposed to a national focus taken by Zysman as the driver of economic growth. Global governance entails a collection of procedures in which individuals play a pivotal role in development. In this regard, Cabrera defines the essence of breaking territorial boundaries to human rights as the main deterrence to economic growth and development. However, the confinement or brokerage of human rights boundaries is however anchored on both local and international government that dictates the ultimate effects on development (Cabrera, 2010). This position shows a common perspective in the view of both local and international governance that is central to the development of both local and international economies.
Despite the positions taken by the two sources, a common attachment of the national and international government in policy developments that influence development is noted. To realize global justice, Cabrera assert the need to develop comprehensive mechanisms that facilitate global integration of all individuals particularly in the advent of globalization that have a wide effect on development. This is the same perspective that Zysman cites policy development but attaches it to the governments as opposed to the exact individual roles. In this regard, the national and global governments have the enforcement capacity to ensure maximum compliance with individual standard rights. The contribution of individuals towards growth and development is quite important in enhancing development but requires an efficient alignment through policies that National and International administration are charged with formulating and executing (Cabrera, 2010).
The prospects of institutional advocacy are very essential in promoting unity among different economic agents as it does not only promote unity but also enhance interstate integration with an ultimate impact of accelerated growth. The governments, both local and international perspectives provides a serene environment or otherwise towards enhancing development. According to Cabrera, harsh economic environment through poor policies is central to the familiar of individual advances prescribed to individual rights. Patterns of individual association in an economy are key to the development of the ultimate roles and effects of individuals in an economy. As Cabrera cites, immigration patterns often define the procedural outcomes of individual influence on development. As a result, this perspective connects the role of government pursued by Zysman which is the development of policies that define migration patterns in and out of an economy. In effect, this process influences the growth process in the long-run (Cabrera, 2010).
Wendt, (2003) focuses on literary findings of the recent global literature based on the path taken by global systems towards realization of mutual integration is central to economic development. The achievement of this process is anchored on a constructivist theoretical approach. Wendt uses arguments based on literature reviews citing among other elements, the roles of global monopolies in perpetuating organized crimes. This study like Cabrera recognizes the roles of individuals struggles and the micro-level of development in particular towards development of an efficient growth model (Wendt, 2003). In this regard, the individual roles in development are key to realizing effective growth. In realizing effective growth model, the government must however develop institutional capacities in furnishing economic advances via individual contributions to growth.
Through a review of literatures, Wendt combines the view of self-actualization theory to focus on the roles of macro-economic and micro-economic perspectives of the effect of individuals in economic growth. The individual roles of citizens and the prescribed macro and micro-level boundaries are essential to the development of crucial growth levels that are essential to realizing end-state that is essential for global economic governance. According to Wendt, micro-economic growth is driven by individuals struggles while macro-level, individual struggles are anchored on logic anarchy which generates tendency to adopt military technologies that have a long-term destructive effect. Wendt identifies gradual effects of struggles that ignite instabilities based on a five stages of impacts. These effects are realized through systems of state, societies of states and the world states that are central to the economic growth and development. In this regard, the advances and roles of society states and the world states are essential in consolidating and moderating individual struggles and their effects on the economy (Wendt, 2003). As a result, modern advancements are critical to driving regional and state growths.
Finally, Yunker focuses on a critical review of challenges associated with having a single political organization that illicit numerous controversies in enhancing development. The presence of a single political organization is central to the prescription of dictatorial rules in an economy. However, the consolidation of a political force to a single organization may also result into enhanced economic integration particularly when the focus is taken at a global perspective. However, this association is considerably hard to realize at a global level. Through essay-based arguments, the author discusses the influence of political organizations coupled with recurrent economic growth and cultural globalization prospects. Like Zysman, Yunker provides a comprehensive review of the roles of world governments as well as additional inquiries as a result of political globalization amidst prevailing federal governments of the world which is central to continued economic and cultural globalization processes (Yunker, 2011). These ideals are central to creating different procedural advances in the political system is critical to establishing economic framework that supports development.
Besides, the political engagement and alignment of developments is ideal in generating unique development agenda but failure in the process may also cripple overall engagement. In particular, Yunker cites political impacts and roles in peace keeping as central to development. In particular, the advances made in an economy are squarely anchored on the state of security that both corporate and individual business agents ascribe to as well as scenarios that can result into a totarian tyranny. For instance, the presence of nuclear weapon is associated with elusive effect of human fatalities and eventual collapse of human civilization. In this context, economic growth and development is hard to realize both in the short-run and in the long-run. Finally, the government is central to political growth as it facilitates peaceful integration of the mankind which is a major requirement for economic growth (Yunker, 2011). In this regard, economic growth is a function of individuals roles in the economy which is moderated by both national and international governance.
Cabrera, L. (2010). The Practice of Global Citizenship; Cambridge: Cambridge University Press.
Wendt, A. (2003) `Why a World State is Inevitable, European Journal of InternationalRelations 9 (4): 491-542.
Yunker, J.A. (2011). The Idea of World Government: From Ancient Times to the Twenty-FirstCentury. London and New York: Routledge Global Institutions Series.
Zysman, J. (1983). Government, Markets, Growth: Financial systems and the Politics ofIndustrial change (Ithaca, NY: Cornell University Press
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