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

Global Political Economy Outline & Presentation - Book Report/Review Example

Cite this document
Summary
The article presents information about the economic system of the Soviet Union. It discusses the logic applied in its institutions and various interactions while pointing out the natural economic…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91% of users find it useful
Global Political Economy Outline & Presentation
Read Text Preview

Extract of sample "Global Political Economy Outline & Presentation"

Oral Presentation Outline Introduction Soviet’s traditional model of the command economy disastrously failed. The articlepresents information about the economic system of the Soviet Union. It discusses the logic applied in its institutions and various interactions while pointing out the natural economic consequences. The author identifies a number of mutually dependent characteristics that stakeholders should change to enable the initiation of reforms.The Traditional Soviet System The system is a centralized planning, implemented administratively through the issuing of detailed and extensive coordinating instructions and direct commands.

Subordinates offer information and viable suggestions that have greater inspiration on the commands. Nevertheless, subordinates normally possess little independence in determination of the directive of commands. Institutional Structure The characteristics of the Soviet economic, institutional structure are as follows:The state owns natural resources and capitalThe state conducts all production activitiesLegal private production is relatively smallComplex hierarchical administrative structures maintain the priorities of political leadershipParallel monitoring hierarchies exist outside the economic chain1.

Planning, Control and CoordinationPlanning entails iterative communication and negotiating amongst the existing fundamental agencies Communication and negotiation takes place in the form of sequence of commands from the managers to the subordinatesControl figures are explained in escalating detail down the managerial hierarchyCommands are based on the prevailing outdated informationPlanning and coordination involves approximately 10000 operational units and 10 million distribution processes with 24 million productsPlanning encompasses interactive communication among central agencies from senior officersThe administration sets prices, wages, and salariesOperational units rejoin to the duties by demanding capital and measurable resources 2.

Plan Implementation and Economic BehaviorExecution decisions are mainly compartmentalized by the underlying managerial hierarchySubordinate solely trail and care about dispersed plan objectivesThe complex structure poses planning problemsConsistency lacks in the issue of commandsThe implementation process is marked by ignorance of subordinatesThe subordinate conduct only the assigned ordersThe system causes interference in the production output3. Strengths and Weaknesses of the Traditional SystemStrengthsSuitable for mobilization of scarce resourcesSimplicity in planning, communication, verification and monitoring processEffective for central prioritiesWeaknessesDifficulty in the measurement of opportunity costsInhibition of fine-tuning and feedback due to inflexibility of planningDepartmentalism inhibits the centralization of goalsImplication for Reform A market-based system is significant for USSR.

The system will have the following characteristics:Free, market-determined pricesIndependence of firms motivated by economic factorsInitiation of industrial regulation to replace of industrial planningA modern financial system including financial intermediaries, commercial banking and exchangesConclusion The current state of the traditional system poses challenges to reformers in the quest to initiate relevant changes in the system. Thus, for the fruitful reform, systems should the Faustian compulsion to predict and control.

Thereby, the systems can permit the natural occurrence of economic outcomes based on market interactions.Work CitedEricson, Richard E. "The Classical Soviet-Type Economy: Nature of the System and Implications for Reform." Journal of Economic Perspectives 5.4 (1991): 11-27. Web. 13 Nov. 2014. https://www.aeaweb.org/articles.php?doi=10.1257/jep.5.4.11

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Global Political Economy Outline & Presentation Book Report/Review”, n.d.)
Global Political Economy Outline & Presentation Book Report/Review. Retrieved from https://studentshare.org/social-science/1665759-global-political-economy-outline-presentation
(Global Political Economy Outline & Presentation Book Report/Review)
Global Political Economy Outline & Presentation Book Report/Review. https://studentshare.org/social-science/1665759-global-political-economy-outline-presentation.
“Global Political Economy Outline & Presentation Book Report/Review”, n.d. https://studentshare.org/social-science/1665759-global-political-economy-outline-presentation.
  • Cited: 0 times

CHECK THESE SAMPLES OF Global Political Economy Outline & Presentation

Public Relation is the New Propaganda

political economy of Information For critical reasons, sociologists, political scientists and communication practitioners have the tendency of evaluating phenomena from the economists' perspective.... The condition makes them develop the aspect of becoming political economists, thus the concept of the political economy of information (Stilwell 2011).... hellip; The author states that propaganda refers to misleading information vital in the promotion or publicizing a specific political cause or point of view....
4 Pages (1000 words) Outline

Review of Political Debate

This paper describes different view on the essence of political debate and the philosophy behind it.... hellip; In Dahl's conception, the exercise of power takes place irrespective of the different situations and possibilities that might exist among and between individuals.... For Dahl, the exercise of power must be seen in as an entity within the decision making complex....
7 Pages (1750 words) Outline

Influence of Globalization on Society

hellip; The process of globalization has made the world a smaller place in which the political, social, economic and cultural relationships are majorly integrated.... This outline discusses the influence of globalization on society.... It describes how it has affected human rights, moral values and individual entitlements....
7 Pages (1750 words) Outline

Serbian Community in London

The peak ended around 1922 and after that, the large influx of Serbians in the United Kingdom was purely political.... The paper "Serbian Community in London" highlights that the Serbian community in London has faced many challenges historically, some of which they continue to face such as discrimination, vilification, and association with criminals, long-distance nationality, and cultural and language maintenance....
8 Pages (2000 words) Outline

Regulation in Pharmaceutical Drug Counterfeit Market

In this context, circumstances of the global economy make it hard to guarantee an equal set of regulation rules for both developed North and developing South.... Moreover, the contradiction between economic profits and social responsibility inevitably appears in the case of pharmaceutical counterfeit regulation; hence, I conclude that it is a political battle in the framework of interest groups theories.... Although, most of them agree on that 'counterfeit drug' includes criminality as an essential element of its production; thus, the term itself is rather political than scientific....
3 Pages (750 words) Outline

Economic Decision Makers

"Economic Decision Makers" paper states that we are faced with budget constraints that force us to make sure that our expenditure never exceeds the capital available.... The paper focuses on four decision-makers; households, the government, firms, and the rest of the world.... nbsp;… These are the people who live under one roof....
1 Pages (250 words) Outline

Power in the Economy

… The paper "Power in the economy" is a great example of a macro and microeconomics outline.... From an open perspective, there is no relationship between power and economy.... The paper "Power in the economy" is a great example of a macro and microeconomics outline.... rom an open perspective, there is no relationship between power and economy.... Whereas matters that relate to the financial status of an individual, a state or a nation tend to be associated with the economy....
1 Pages (250 words) Outline

Women's Voting Rights in the U.S. and Egypt

and Egypt" discusses the following question: what are unique aspects of the American political system that had an impact on women's suffrage and how do these compare with Egypt's status.... This outline "Women's Voting Rights in the U.... .... hellip; ... hat is the extent of women's economic contributions in both countries and its general effect on their empowerment?...
2 Pages (500 words) Outline
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.
Contact Us