There Are Several Variants of Theories Within the Liberal Perspective

question 32

Essay

There are several variants of theories within the liberal perspective.Some treat the state as a unitary,while others focus on domestic politics.Some focus on the role of democracy,while others focus on the role of interdependence.Identify for yourself three different theoretical "branches" that you see within the liberal perspective.Discuss the assumptions of each,and explain their similarities and differences.Given these similarities and differences,why do you think they are all included together under the overarching perspective of "liberalism"?

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Definitions:

Income Elasticities

Refers to the sensitivity of the demand for a good to changes in the income of the consumers who buy this good.

Normal Goods

Products that see an increase in demand when consumer income grows, and experience a drop in demand as consumer income declines.

Wheat Yields

The quantity of wheat produced per unit of land area.

Total Revenues

The total amount of money generated by a firm from its sales activities before any costs or expenses are subtracted.