Recent Trends In International Political Economy
RECENT TRENDS IN INTERNATIONAL POLITICAL ECONOMY
THE RISE OF VIRTUAL STATE
==â–ºThe way states controlled resources has changed.
==â–ºPreviously land was considered as a source of production and power and there was obsession for land by states and powers. To acquire more and more land to enhance power and the only way to capture land was wars and conflicts.
==â–ºOver the years things (trends) are changing the focus is shifting from LAND to CAPITAL and LABOUR and farther more to SKILL or MIND.
==â–ºAs land is immobile factor of production on the contrary Labour, and Capital are very much mobile factors of production.
There are Two Types of Labour Mobility:
(a) Geographically: In case of perfect competition labour will move any where in the world. But Political and social factors are limiting the labour mobility.
(b) Jobs: If a person can perform different jobs perfectly there can be a perfect mobility in jobs. But when more are the skills required the less is......
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