Summary of a book chapter Assignment Example | Topics and Well Written Essays - 500 words - 6

Summary of a book chapter - Assignment ExampleA strong frugal and military power are critical to the formation of such a liberal world-wide market economy. According to the hegemonic theory, the absence of a dominant economical and military power can make it difficult to enforce liberal rules. Thus, the international markets cannot operate without the existence of a liberal dominant power. Chances of a global market economy falling are high when there is no integration of such a hegemon. In addition, the risk of deteriorating economic relations into self-interested, ultranationalistic and protectionist competition can be profound. The debate presents that the dominant power manipulates a global market in attempts to foster a world economy grounded in a free trade. The free trade benefits all the nations that participate in such a global market. For instance, the US military in Western europium helped in neutralizing Soviet threat.Marxism initiated a debate regarding the developm ent and underdevelopment in nations that are still developing. The Marxists reacted to the economic liberal concept. Thus, this debate begins from a liberal perspective of problems colligate to development. It is apparent from this debate that asking of pertinent questions regarding development was never possible before mid-fifties. In some cases, individuals could ask questions that concerned the colonial development since a number of developing nations had European states controlling them. Development of colonies was not strictly a global concern, but an imperial issue. The beginning of decolonization by 1950s marked the introduction of agendum on researching about development on a global scale. Such developments led to new states including Africa and Asia becoming part of the UN and was able-bodied to raise their concerns regarding development. Mainstream perspective appears to be a dominant discourse that defines all, which appertains to development.Economic liberals raised se veral debates on varied issues. In this