(S. M. Lele, Sustainable Development" A Critical Review, p. 611)
Connections between the two
Harriss promotes the idea of disciplined economics and governance based on rules. Lele promotes the sustainable development, again a form of governance based on a strict set of rules. The idea at the basis of these two theories is practically the same: governance, economy and the entire human behavior should be based on a set of rules previously elaborated to protect the interests of the participants as well as the environment's. In one word, discipline should be the one rule by which the world is to be governed.
Harriss's cross-disciplinary approaches development from a wider point-of-view: economical, humanitarian, academical, political and social. He explains the importance of discipline in all domains with examples in the scholar domain.
Lele's sustainable development is more concerned about a concrete aspect: correctly applying the rules of economics towards the protection of the natural resources on the planet. Economical growth and acquiring of profits should not be allowed if it meant damaging the atmosphere or the ozone layer.
Even if the causes for which these two economists militate are different, they promote the same idea: all actions should be based on considerations of rules and external environment.
Issues on conceptualizing poverty
To better understand poverty, its causes and consequences, Ravi Kanbur, professor at Cornell University in New York associated it with lack of education and health (both physical and mental). In countries where inhabitants have limited opportunities to educate themselves and where health is not properly guarded, economic regression is prone to install.
Kanbur also brings up the fact that a country's economical status can be identified through its participation to international trading. The amount of products a country exports compared to the number of imported products is an important factor in determining how poor a country really is.
Branko Milanovic believes that poverty in the Southern countries of the globe is strengthened by the globalization process. While the process affects the Northern regions of the globe by decreasing the number of available "middle-class jobs," in the south, children are being sent to work from very early ages and in miserable conditions (Branko Milanovic, The Two Faces of Globalization: Against Globalization as We Know It).
This argument proves Kanbur right: if a child is being sent to a workplace instead of a school, he will never be able to acquire a proper education and progress further on in his life. If this happens to most children, the educational system fails, contributing to the failure of other systems as well, leading in the end to poverty.
A collaborative research of David Hulme (University of Manchester) and Andrew Shepherd (Development Institute, London) pointed out four major questions regarding poverty in the southern parts of the globe. These questions and a succinct answer to them are presented next:
Q1: What is chronic poverty?
In an attempt to define the chronic poverty as simple and clear as possible, Hulme and Shepherd propose the following definition: "chronic poverty can...
Political Economy of Global Environmental Problems: With the increasing globalization measures, there are various environmental problems that have continued to affect the entire world. These global environmental problems have affected almost every society in the world because of their impact on the earth's natural processes. Some of these environmental problems include climate change, acid rain, water pollution, depletion of the Ozone layer, destruction of rain forest, overpopulation, and sustainable development. One
The European Union also has its own version for corporate social responsibility. (Landau, 85) Thus the U.S. polity was forced to adapt international opinions and legislate both for the external and internal aspects of its economy. Human rights, labor laws and a host of international issues like global warming and the use of chemicals were all reflected in amendments of the local laws while some of the issues like
International Political Economy In recent years the presence of a global economy has become more apparent. Financial institutions throughout the world are now connected through a vast computerized network. As a result of this global economy issues associated with the international political economy has become an increasingly important issue. The purpose of this discussion is to explore the manner in which the three conceptions of the international political economy (Realism, Liberalism,
They are used to the existing state-based system of commercial regulation, and there are several reasons why they might wish to maintain it. The advantage of using this system is that the MNCs know the system well, and the system uses effective tools for managing and currently provides them with significant leverage. They have proved adept at using leverage: globalization has forced firms to raise efficiency and adopt cost-minimization
For example, Shu-Acquaye (2007) cites the basic differences in the legal systems in various parts of the world as contributing to the different approaches to corporate governance. Likewise, Shu-Acquaye cites these differences and adds, "The American corporate governance system adheres to the idea of shareholder primacy. Because the United Kingdom, Austria, and Canada share a legal system based on English common law and equity principles, they are similar to
Investment in the "global economy" remains a domestic matter: The fact is, the total amount of the world's capital formation that is generated from foreign direct investment (FDI) has been less than 10% for the last three years for which data are available (2003-2005). In other words, more than 90% of the fixed investment around the world is still domestic. And though merger waves can push the ratio higher, it
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now