Political Economy (Theories of Late Capitalism) Essay

policy-making Economy (Theories of Late Capitalism) - Essay ExampleResultantly, this era also witnessed a transition from traditional assimilation to Western culture that prevailed in OECD Countries. Frieden also mention the failure of countries from Sub-Sahara Region to catch up the economical progress that took protrude.Friedens ideas on economic progress that took keister during last lead decades of twentieth century therefore indicate a radical transition to globalization and bug outnce of new economic changes that took place intimatelyly in East Asia and OECD countries.Rifkin on the other hand however, is of the view that the last three decades of 20th century witnessed a radical shift into the production process as economic evolution took place during the pointedness. Most importantly, Rifkin defined the relationship between the production process and the firms by arguing that the current period was dominated by the control of ideas and concepts of the employees. The p roduction process which historically dependent on the control of desolate materials wherein modern production processes depended on the knowledge based workers.The creation of knowledge based societies therefore were the most instrumental objects which brought the necessary change into the production process. As the labor force became more skilled and knowledgeable, the prerequisite relationship between the labor and production process change fundamentally to accommodate the basic changes that emerge as a result of this shift into the production processes. Thus Rifkin view last three decades as periods of history in which production process and its relationship with other objects changed radically.Harvey, however, views post modernity not as a unique case and consider it as a constant aspect of capitalism and match it to the phenomenon which is cultural specific. This view is relatively contradictory as compared to the views of Frieden or even Rifikin. Frieden view the last three decades of previous