International Relation- PED Essay Example | Topics and Well Written Essays - 1500 words

International Relation- PED - Essay Examplegrowth of the political economy of using enables the exposure of the interconnected topics, ideas and the role played by such ideas towards shaping a countrys development aspects.The assignment is put together in order to provide an understanding platform of the breathing literature on economic development studies. The work is organised in a way that bequeath elaborate to a greater extent on the Post-war consensus that took place from 1950s and in the 1960s. During this period, the ideas visualised in the literature channelise that they were focused on the theory of classical dualism.This particular theory led to the development of policies that were concentrated much on the creation of the suitable pre-conditions to facilitate development. The study will shed light on the grammatical case of increasing aw beness, and the role played by advancing ideas. The ideas were resulting from the reducing reliance on the state of developmental and the increasing dependence on structural adjustment lending that will be assayed.In denotation to Ranis (2004), the previously ignored sub-field of development economics was reinvented between the 1950s and the 1960s. During the time, the current models of the economy were deemed only to tender insights that were rather limited towards solving the challenges facing the third world. The Keynesian, Solow, and Harrod-Domar were the dominant economic models at the time. However, the ideas in these theories get little relevance for most societies.In accordance with Cairney (2012), the ideas incorporated in this literature are more of connected to the business cycles and other steady-state properties. In a more specific tone, the contemporary development models are viewed as related to the advanced countries. The Keynesian theory, for instance, has an abstract theoretical construct that abides by the abundant assumptions portrayed by the macro- theory of neo-classics.Contemporary de velopment ideas also focused on full employment, perfect competition, and