Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Contemporary Theories of Political Economy - Essay Example

Comments (0) Cite this document
In the era posterior to Marxist and the liberals, the debate has moved on to the new territory concerns the appropriate institutional framework, within the parameters of which a market may operate. Essences and markets Aristotle uses both the general essence/accident distinction and the more particular teleological account of essences to describe the market as a social institution (Marx & Fowkes, 347-574)…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.2% of users find it useful
Contemporary Theories of Political Economy
Read TextPreview

Extract of sample "Contemporary Theories of Political Economy"

Download file to see previous pages He proceeds thus in virtue of his taxonomic approach to the characterisation of an essence which he inherits from his biology: a sentence characterising an essence of an entity of a particular kind standard has the form of a noun phrase indicating a genus modified by an adjectival phrase that expresses the differentiae, the properties that are peculiar to that kind. (Fukuyama, 82-113)
The chrematistic art of acquisition, because it involves acquisition of objects not for their "proper and peculiar" properties, is, for Aristotle, "unnatural" for humans, and hence to be held in check. It needs to be held in check, however, because it is the normal developmental outcome of exchange. The essential nature of market exchange is revealed for Aristotle in its developed "unnatural" form (Frank, 213-268). In this final state the dispositional properties of markets are exhibited. The most significant of these for Aristotle is the particular moral character it tends to produce: Aristotle's political theory is by and large concerned with the tendency of different social and political institutions to issue in different virtues and vices. The market, where its development is unchecked, tends to issue not in the virtues constitutive of a flourishing human life, but in the vice of pleonexia, the disposition to want more than is proper. (Marx & Fowkes, 347-574)
Distinctions and influences Aristotle's essentialism is a complex of claims that are logically independent of one another. One might accept his basic distinction between the essential and accidental properties of an object without accepting the further teleological specification of essences in terms of normal patterns of development. Indeed it is worth noting that the example of essentialist descriptions of copper I used in section A does not conform to the Aristotelian teleological model. Likewise one might accept essentialism in its basic form without accepting his particular taxonomic approach to the specification of essences. Again, it is possible to adopt an essentialist position in either its basic form or its teleological elaboration for entities in the natural world, but to reject it for the social world. (Fukuyama, 82-113)
One might accept essentialism about social institutions generally and markets in particular, but reject the teleological elaboration of essentialism that Aristotle offers. The options open to the "essentialist" are much more varied and complex than recent anti-essentialist caricatures of the position allow (Frank, 213-268). The picture of Aristotle's influence on subsequent essentialist thought about social institutions in general and the market in particular is similarly complex. Both Aristotle's essentialism and his discussion of the market have had a large influence on philosophical and economic thought. Aristotelian essentialism, as far as description of the natural world is concerned, has had a long-standing influence and indeed has recently undergone something of a revival. (Fukuyama, 82-113)
In the social realm it is possible to find theorists, most notably Hegel and Marx, who self-consciously defend Aristotle's essentialism in its full teleological form. Aristotle's discussion of th ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Contemporary Theories of Political Economy Essay - 1”, n.d.)
Retrieved from
(Contemporary Theories of Political Economy Essay - 1)
“Contemporary Theories of Political Economy Essay - 1”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Contemporary Theories of Political Economy

Contemporary Theories of Political Economy

The Second World War had a great impact on almost all the world economies as it led to greater spending and a need for more and more arms and ammunition. All of this led to the building of more and more industries, which made countries around the world tap and realise their industrial potential. The 1950s and 60s were a time when most economies began to understand the true power that they possessed in terms of both physical as well as mineral resources. This World War was termed as the age of anxiety – when people were running helter-skelter for their lives and wishing for their sons, husbands, and fathers to return from the war scene, as well as families growing and prospering in terms of consumer spending because of the incessa...
9 Pages(2250 words)Essay

Political Theories

... theories have been developed in order to find out the best possible manner in which democracy is to be executed among the people. Some societies try their best to establish a clean political scenario within which people can live peacefully with each other, sharing resources and producing goods and services in a very harmonised manner. However, within some societies, this distribution may become haywire and concentrated within the hands of a few individuals. This obviously might not be good for the general benefit of the entire state, however might help a few individuals gain a lot, thus leading to an overall growth in the entire income structure of the state. The economy is thus divided on the basis of both sociological as well...
7 Pages(1750 words)Essay

Fairly Contemporary Issue about Global Political Economy

... Contemporary Issue about Global Political Economy The Global Political economy is an industry that has grown over the years. The political enemy mainly involves the states, and how the markets presented by this state’s affect one another. Hegemony is a critical issue when trying to explain political economy. This is because hegemony represents a post-war issue. Most economists understand it as an issue explainable in terms of international relationship. Hegemony to economists can be simply defined as a form of dominance. The dominance is a political one in the sense that the dominant state does have the power to exert influence to other system of states. During the post war, economists have studied hegemony and its' importance in global...
6 Pages(1500 words)Essay

Theories of Political economy

...Your first and sur Your Due Question Democracy is the power to govern a in the form of majorityvotes. It allows people to make their choices for their representatives or direct vote (direct democracy). How it conforms to free market is a debate that highlights many aspects and pitfalls in this state governance out of which ethnic disparity is the major issue. Ignoring this major drawback would be a nave opinion because as per marketing orientation of ethics, people are irrational. Following will be arguments that support the fallacy of democracy and free market economy co-independence. Free market economy suggests that the power of demand and supply govern the prices and purchasing power of people. This determines the fact that only...
4 Pages(1000 words)Essay

Political Economy

...INTRODUCTION: In this essay, I am going to look at some of the major economic theories and their assumptions especially on the need and role of government action or involvement in the economy. This analysis is based on a review of john Freebairn of the Australian car manufacturing industry. Markets are generally a system of social arrangements that allow people to gain information regarding goods and services. In addition, markets provide a framework where people voluntarily exchange their goods and services for an agreed compensation. ANALYSIS: In analyzing the Australian manufacturing industry, Freebairn uses a combination of the Keynesian and the neoclassical theories to drive his point home. The Keynesian theory, which is based...
2 Pages(500 words)Essay

Political Economy As Viewed Through Theories of Late Capitalism

...Q Frieden’s attempt to explain three decades between 1970-1990s is based on the continuous evolution of the global capitalist system that took place specially after the end of World War II. Friden’s analysis of this period is mostly based on arguing for the increased integration of the economies of the world and emergence of globalized world which re-shaped the economic policy making in many countries. Frieden also describe the changes that took place in East Asian countries and the successive explosion of unique economic phenomenon of international integration which allowed massive flow of factors of production across the borders. Resultantly, this era also witnessed a transition from traditional culture to Western culture that prevailed...
7 Pages(1750 words)Essay

Political Economy

...Dayo Abbas Ali Dayo Number 10 May Political Economy (Theories of late economy) Every country in general and society in particular has in it two main aspects. These aspects are identified as political aspect and economic aspect. Both these facets are structurally interconnected and have profound impact on one another. Theorists, in connection with understanding political economy, have proposed various theories. These theories help understand political economy a great deal. DECLINE OF AMERCIAN POWER Introduction. It is generally believed that every meteoric rise of fame has its decline. History has in it explicit examples. Nations who made astounding economic progress melted down with the same pace. American economy, also, is no exception...
10 Pages(2500 words)Case Study

Contemporary Theories of political Economy

... Fukuyama and the End of History In 1989, Francis Fukuyama, who had served as the deputy director of the US Departments Policy Planning Staff, published an essay titled The End of History. Three years later, Fukuyama expanded upon his essay and came out with a book The End of History and the Last Man. The years 1989 to 1990 saw the end of the Cold War. According to Fukuyama, the end of Cold War was the end of history as the human civilization was unanimously converging on a single organization, i.e. the Western liberal democracy. The core of the argument that Fukuyama presented in his writings was that the shift of power and the resultant emergence of liberal democracy stifles further growth and advancement in human political organization...
4 Pages(1000 words)Essay

Political Economy Theories

... Blog assignment: Political economy theories Political economy can be defined as a social science that deals withhow institutions develop in different social and economic systems such as capitalism, socialism and communism. It is the science of wealth, which deals with efforts made by man to supply wants and satisfy desires. This piece will focus on two key theories put across by various economists and demonstrate how they have been used to explain the impact of political ideologies on economic relations such as buying and selling od goods, flow of investment, wealth or poverty of regions and ways in which economic power influences political relationships among states. The theories used in this analysis will be the Marxist...
2 Pages(500 words)Assignment

Porter nd Kotler's Theories

UK consumers аre the biggest spenders per cаpitа on clothing in the EU. While the import аnd export mаrket increаsed over the yeаrs, locаl production fell rаpidly by аpproximаtely 1 bn pounds. Аs а result of these figures it is obvious thаt the British fаshion industry is highly dependent on other countries’ textile.

А lаrge number of British consumers hаve becаme more price-sensitive under the slogаn ‘look good-pаy less’ however some consumers аre willing to buy higher-priced аnd exclusive clothing. The number of millionаires in the UK increаsed by more thаn 80% between 2001(230000) аnd 2004(425000) (Finch, 2007). This leаds to luxury аnd strong brаnd аwаreness. Аlthough the formаl weаr is more аnd mo...
10 Pages(2500 words)Case Study

Cultural History Versus Political History: The Varying Methods of the Two Fathers of History

Even though they have these similarities and have both been bestowed with the same title, these two historians drastically differed in their approaches.

Herodotus had another title bestowed upon him; he was also called the “Father of Lies.” Much of what is known of him has been gathered from his own writings as few other sources are available from his actual life. It should also be noted that the veracity of this information is in question as Herodotus was known to invent much in his own work, and it was sometimes the practice in Ancient Greece to attribute events from the life of one person to another; for instance, it has been questioned if the accounts of Herodotus’ exile are only due to the fact th...
10 Pages(2500 words)Essay

Political Ideologies and the Environment

Man has lost touch with the environment to gather his own empirical evidence, study it vis-à-vis the knowledge handed him down the generations and make his independent judgment. Thus his thinking process is chained to the scientific and economic superstructure.
The early part of the twentieth century saw the emergence of the knowledge society. The transmission of knowledge propels social and economic change. Out of the knowledge, society grew the energy-guzzling and environmentally unfriendly consumer society. On the vestiges of consumer society now emerges the anxiety-laden risk fraught society Man, the main protagonist, knows little of his importance and is in haste to accomplish things, knowing-well the risk fraught...
6 Pages(1500 words)Assignment

Contemporary American Catholic Homiletic Theory and Practice

...Overview of Contemporary American Catholic Homiletic Theory and Practice Luke 4:16-21 The foundation moment in Christian preaching is written in Luke4:16-21, when Jesus went into the synagogue in Nazareth and stood up to read the scroll of the prophet Isaiah “and he begun by saying to them, ‘today this scripture is fulfilled in your hearing’”. (Luke 4:21) Upon the ripening of time, Jesus stood at that moment as the prophetic speaker proclaiming God’s scriptural Word, declaring the fulfillment of the prophecy in Isaiah in his person. He spoke in revelation of the fulfillment of written words to a congregation, laying down the foundation of Christian preaching that has since been the basic implement in the sustenance and propagation...
6 Pages(1500 words)Case Study

Political Thought

In the nineteenth century, the term democracy still had uncomplimentary connotations, most of the time; some understand it as a system of mob rule. Now, however, we are all democrats. Liberals, conservatives, socialists, communists, anarchists, and even fascists are all eager to proclaim the virtues of democracy and to demonstrate their own democratic credentials. Indeed, as the major ideological systems faltered and collapsed in the late twentieth century, the flames of democracy appear to burn yet more strongly (Huth & Allee, 2003). As the pull of socialism paled, and the intrinsic worth of capitalism has been called into query, democracy appeared as possibly the single unwavering and lasting principle in the postmodern poli...
6 Pages(1500 words)Assignment

Traditional Theories of Leadership

They now focus more on doing things whilst thinking about the times that will follow; building upon their strengths and aiming to address the grey areas. The eventual emphasis within the modern theories of leadership has been centered on the premise of bringing about a change that remains abreast of the times that will come ahead (Lynch, 2006). Changing the dynamic mindset of the organizational processes and behaviors is a significant undertaking and this has rightly been pointed out by these modern theories under the leadership tenet. The visionary role of leadership has made things easier, focused on the long term actions and sought clarification from the goal setting and objectives’ regimes (Zaleznik, 1989). The new theor...
6 Pages(1500 words)Assignment

Effect of Corporations Moving Jobs Overseas on the Economy

The issue comes into focus, whenever there are political, economic debates or talks about H1B visa limits. The economic slowdown has further led to the intensification of these debates. But, despite apprehensions from different quarters, neither the companies nor the government has said a final word on the trend. Increasing levels of competition amongst the corporate houses have been one of the key highlights of the globalization era. Be it the retail sector, the banking, the automobile, the IT-enabled services, the white goods space, etc. the companies have always been on the lookout for reaching out to more number of customers while doing everything possible to please the existing lot. Leveraging the economies of scale has prove...
8 Pages(2000 words)Coursework

Contrast of Two Explanations of Social Disorder in Contemporary UK Society

As the process of urbanization takes off and more people start residing in major cities, the fissures start to appear within the apparent harmonious co-existence. There are several reasons why disorderly conduct on part of individuals and groups takes place. Sociologists have proposed numerous theories explaining this phenomenon.

Erving Goffman was an astute observer of society, who immersed himself in the social environment which he was studying. He carefully observed and recorded the ways in which people’s behavior and interpersonal interactions are carried out in everyday life. He notes that “people perform their social roles and, as they do so, they produce social order through their actions and the regu...
6 Pages(1500 words)Article

The Theories of Kant and Plato

... Introduction In the second part of the Prolegomena, how does Kant describe the workings of the understanding? What is the role of the understanding, in other words? Immanuel Kant is one of the successful modern philosophers who attempted to reconstruct the fundamentals of philosophy and succeeded to a considerable extent. His remarkable criticisms on the theories of metaphysics were encapsulated and summarized in Prolegomena; it sets forth a specific problem that is resolved with an extensive feasible argument. In the second part of Prolegomena Kant has asked questions on the purity of ‘natural scientific cognition’ which refers to the knowledge of laws based on the natural universal science like “that everything that happens always...
6 Pages(1500 words)Assignment

American Political Communications

...Political communication: Today, voters no longer make decisions based only on personal opinion but view most issues through the eyes and ears of the media. Most options arise from interpretation of the symbols obtained from mass media. Political advertising is a prominent media for reaching voters. Political advertisements aim at increasing issue knowledge, influencing perceptions of the candidate’s character, altering attitudes and affecting candidate preference. In most political advertisements, politicians essentially promote themselves, their thoughts, beliefs, values, image and political propaganda. These advertisements can have a rather persuasive influence on voters. Political ads can convey both positive and negative feelings...
6 Pages(1500 words)Essay

Contemporary Theories of Political Economy

... Question One Totalitarianism This is a political system whose ity is limitless. It’s guided by a specific ideology but has an aim to regulate most if not all aspects of private and public life. controlling public aspects encompasses controlling the economy as this cripples all other public sectors. Controlling private aspects is achieved through regulating freedom of speech and suppressing the mass media. These coupled with terror and propaganda helps keep totalitarian regimes in power for long. Authoritarianism This form of government people are supposed to unquestioningly submit to authority as it is opposed to democracy and individualism. Power...
9 Pages(2250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Contemporary Theories of Political Economy for FREE!

Contact Us