Global Political Economy Since 1945

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The paper will discuss global political economy with specific reference to the important structures and trends in the global political economy since 1945. In order to define the related trends and structures of the global political economy one should have the prior knowledge of the political economy and its worth. The analysis and thorough understanding of the political economy reveals that it is the study of the role of economic processes, which helps in shaping the society to make it more stable and beneficial. The global political economy can be termed as the use of economic processes, which are helpful to stabilize the economy of the states globally. The economic processes tend to normalize the present conditions present in the economy and the loopholes are eradicated by the implementation of the economic process with in the economy of the state. The society can progress if the rules and regulations of the global political economy would be implemented and acted upon by the authorities. The implementation of the economic processes can speed up the growth of the activities of the business and these activities will in turn provide economic stability to the state. European Integration “In 1951,six Western European Countries (France, West Germany, Italy, Belgium, The Netherlands, and Luxembourg) joined together to form The European Coal And Steel Community (ECSC), which was designed to coordinate the policies of member states and reduce their trade barriers in coal and steel Although the ECSC was designed to promote economic integration of the member countries ‘coal and steel resources the reasons for its formation in 1951 were primarily political” (http://www.amazon.com/exec/obidos/tg/detail/-/0321011651/ref=lib_rd_next_8/103-...

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...ation of the methodologies of the economics will help the individuals and states to prosper. As stated by Adam Smith in the wealth of nations that economics is defined as a science of wealth. The implication of the rules and structures of economics will help the state authorities to gain stability in the economical affairs of the state. References As retrieved from, http://www.amazon.com/exec/obidos/tg/detail/-/0321011651/ref=lib_rd_next_8/103-1142569-6521408?v=glance&s=books&vi=reader&img=8#reader-link, on 14 August 2003, As retrieved from, http://www.amazon.com/exec/obidos/tg/detail/-/0321011651/ref=lib_rd_next_9/103-1142569-6521408?v=glance&s=books&vi=reader&img=9#reader-link on 14 August 2003 As retrieved from, http://epubl.luth.se/1402-1773/2003/047/LTU-CUPP-03047-SE.pdf on 14 August 2003 As retrieved from, http://www.ups.edu/ipe/whatis.pdf on 14 August 2003

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