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How important is an understanding of the production and distribution of wealth in the global economy to theorising international - Essay Example

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International Relations: Production and Distribution of Wealth Name Institute of affiliate [Date] International Relations Production and Distribution of Wealth Human welfare depends entirely on incomes that they generate. These incomes maybe fixed by contracts, but in the real sense they are controlled by natural law…
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How important is an understanding of the production and distribution of wealth in the global economy to theorising international
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How important is an understanding of the production and distribution of wealth in the global economy to theorising international

Download file to see previous pages... Global economies among many nations are not distinct from one another; therefore, it is necessary to re-arrange the economic theory of these nations. This report will give an in-depth insight on why it is important to understand the production and distribution of wealth in regard to international relations. Several international political economy theorists categorically reject the idea of a state-centric international system and consider the state to be only one actor among many. According to Steve Smith, it is evident that the social, economic and political structures affect systems of production, trade and distribution. He defines international relations as the international economic system that is constituted of economic, social and political “arrangements” of production, trade and distribution. It is not the result of market dynamics or chance, but rather of human decisions, rules, customs and authorities. Smith tries to pinpoint the central authorities whose decisions determine the course of events and power relations at the international level (Smith, Dunne, & Kurki, 2010). There are few elements that influence power relations at the international level, which later affects the decisions of production and distribution of wealth. ...
This is a parent material to which security structures fall into. The security structures are factors, which have historically been dominant, particularly during the bipolar period. The second is production structures: it constitutes the essential power of the IPE. Production structures respond to the question “Who produces what?" Through this power alliances are formed; businesses are developed and become autonomous from states and eventually become transnational. The growing influence of transnational society disrupts the effectiveness of national political economics. Thus, the state's authority dwindles to the point where it becomes powerless and loses influence over its own territory as well as its territory-based economy (Baylis, Smith, & Owens, 2008). It is important to understand the production and distribution of wealth since it involves representations invoked by the actors of world politics. A nation will find it simple to lay out procedures used in this process. After acquiring this information, it will be easy to investigate the practices that constitute entities called ‘actors’ capable of representation. This includes the cultural, economic, social, and political practices that produce particular actors e.g. states non-government organizations etc. it also includes the role of theorist and theories in representing some actors as more significant than others. This reorientation, which evolves from structuralism status as an approach to criticism rather than critical theory per se, is no less practical in its implications. The main question is, for both theorist and practitioners of international relations, why does analytic approaches privilege certain understandings of global politics and marginalizes others? The different modes of ...Download file to see next pagesRead More
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