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ID number:164862
Published: 18.03.2010.
Language: English
Level: College/University
Literature: 5 units
References: Not used

Useful explanation gives Negaire Woods, who reflect understanding of globalization and mundialization trough international political economy in period of globalization. Actually, we must highlight the fact, that conception about globalization, its impact of state, societies and world differs and pretty often even are conflicting. As we know, economy and politics have big influence not only in the individual state, but in the whole world. In an age of globalization we must talk about international political economy, where economy and politics left big influence in the world and states, change states through the foreign investments, exchange rates, exports, imports, multinacional and transnacional firms and so on. In this situation every country and involved parts interact with each other – all world become a system, where every part is connected and if something happens in one part, the consequence will appear, feel in all system. Globalization has a big impact on world economy. But international economy is about the interplay of economics and politics in world affairs. Woods make clear the needs and purpose of institutions, and the raise of international political economy in the study of international relations, where globalization aspects are vital for understanding today`s world. Woods emphasize tree different analytical positions, which are: 1) liberal perspective – presents global economic order as the result of the relatively unfettered operations of markets, guided by rational individual policy- makers; 2) Mercantilists describe the world economy as an arena for inter – state competitions for power; 3) Marxian analyses focus on the structure of the world capitalist economy, proposing that state and government choices simply reflect the preferences of those who own the means of production. …

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