Hospital improves patient with data warehouse - Case Study Example

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All these theories basically attempt to look at the world through different viewing angles as Realism mainly looks at the factors…
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Comparative Evaluation Between Realism And Marxism Marxism and Realism are international relation theories with differing views on how to tackle issue in the realm of an international economy. All these theories basically attempt to look at the world through different viewing angles as Realism mainly looks at the factors concerning the security of a state, while on the contrary Marxism has more to do with equality amongst various classes that exist within a society at large. These theories can be seen in a totally different angle as well; that each of these groups fight for their own vested interests as a whole, rather than taking a stand for the mutual benefit of people coming in from all walks of life (Hayden).
What this paper aims to achieve is develop an understanding of various economic theories in order to be able to explain the readers about various advancements being made in the world economy. Let’s start off by taking one side of the coin and discussing it in detail before moving on to the other one (Dean).
The theory of Realism concentrates on shedding light on the way various roles played by various States around the globe in determining the trend of the international political economy. Moreover, it also focuses on the relation between the level of power possessed by a State and/or a group and how it affects the international economic trend. The supporters of Realism are often referred to as mercantilists or economic nationalists. What’s rather interesting about this school of thought is the fact that they believe that States across the globe find their motivation as the level of power they possess gets maximized. They further believe that power maximization is achieved through the help of international trade, and in this regard international trade policies are one of the many tools that can be put to use by States. Economic analysts who are supporters of Realism are of the view that the global economy works on terms which are majorly based on the interests and motives of powerful States existing world over (Jonathan and Wight).
The second theory that we are focusing upon here is the Marxist theory. This theory was invented by Karl Marx along with his friend and fellow co-author, Fredrick Angles. As mentioned earlier this theory mainly focuses upon differences in various social classes and motives of different workers. Karl Marx, or rather the Marxism theory seems to argue upon the fact that the existing conflict between the workers and owners of capital could only be amicably resolved provided the working class seize their power. Marxism theory also seemed to emphasize upon the fact that whereas most States focused upon enhancing the level of wealth possessed by them, this enhancement only focused on putting a particular class of society at a benefit rather than the community as a whole. Believers of Marxism believe that even though a State is a large territory of land, its actions represent only the interests of a few highly privileged sects or classes within the society who have a dominant position in society (Creaven). What can be concluded when the these two economic models are compared is that whereas under the Realism model neutrality of a State is determined by their amount of say in international trade, under Marxism the benefits achieved from such trade only seemed to siphon towards the rich dominant class of the society rather than the salary as a whole.
It is due to the actions of various states under the realm of a realist point of view that an international political economy achieves it formation. Under such a structure, the political goals and targets are the utmost priority whereas economic activity falls later. It is also pertinent to know that various states deal diplomatically, as well as non-diplomatically with each another in an attempt to gain more wealth and power, but it is only the actions of the state that decide who is actually going to govern or take over the market. We also need to understand here it is due to the consequences of actions of a state that international economic relations equate to international political relations (Sandra, Stones, and Benton).
Contrary to the Realist point of view, Marxists are of the view that power, abuse and exploitation within various societies are the main factors that result in the formation of an international level political economy. Marxist analysts are of the view that under a capitalistic structure, employees are not paid a fair compensation because Capitalists value labor as a cheap source of work. Such analysts also tend to believe that international economic relations never really help are problematic and useless by default. Moreover, the Marxist school of thought argues that under a capitalistic structure production levels are overly high while the demand levels are unsustainable, resulting in instability on the social front along with fluctuations in a company’s business cycle.
This paper basically aimed at discussing various schools of thought. However, what we need to question ourselves at this stage is whether these different theories are mutually compatible or if there is any relationship whatsoever between them. From my research and understanding, I feel that these theories relation to international political economies have very different assumptions regarding how things go about. However, I also tend to believe that there are various economies in the world operating and each theory to some extend explains what is happening with them. A rather more applicable, clear and concise version of my conclusion would sum up to the fact that not all of these social structures may be applicable at one point in time, or within a region, as variations occur within economies over a period of time.
Works Cited
Moog, Sandra, Rob Stones, and Ted Benton. Nature, Social Relations and Human Needs: Essays in Honour of Ted Benton. Basingstoke, Hampshire: Palgrave Macmillan, 2009. Print.
Creaven, Sean. Against the Spiritual Turn: Marxism, Realism and Critical Theory. London: Routledge, 2010. Print.
Joseph, Jonathan, and Colin Wight. Scientific Realism and International Relations. Basingstoke: Palgrave Macmillan, 2010. Print.
Dean, Kathryn. Realism, Philosophy and Social Science. Basingstoke [England: Palgrave Macmillan, 2006. Print.
Hayden, Patrick. The Ashgate Research Companion to Ethics and International Relations. Farnham, England: Ashgate Pub, 2009. Internet resource. Read More
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