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How are economic and political systems related?

Updated: 8/19/2019
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no

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Q: How are economic and political systems related?
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What are the types of political economic systems?

there is no such thing as political economic systems, there are only economic political systems


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The economic and political systems in Britain used to work together because the political system needed a lot of financial backing for it to remain. There had to be finances if the political system recommended going to war.


What is sovereignt?

Exlusive power to determine political, economic, and social systems


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Did Karl Marx make a contribution to economics?

Yes, he philosophized the economic system of Socialism and other leftist political systems such as Communism, which had economic elements. Socialism and communism are actually two distinct politico-economic systems - they both have their own political and economic systems. Marx also wrote the most systematic (at the time, and in my opinion, to date) critique of capitalism. In fact, I think its wrong to describe communism as a political system - democracy is the political system of communism - communism is fundamentally an economic system.


A historian who compares the expansion of political systems to the expansion of economic systems is organizing history by?

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I believe it is better to say 'politico-economic system', as a single wording or separately as 'political and economic systems'. They both mean thesame thing, and infer that there is a strong interchange between the political system (with institutions & Politicians as actors) and the economic system (with corporations & businessmen as actors). In this situation, those who have political powers control the economic system, and those who have economic power influences or control the political system.


Why are capitalism communism and socialism often misunderstood?

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Comparative economic systems is the subfield of economics dealing with the comparative study of different systems of economic organization, such as capitalism, socialism, feudalism and the mixed economy.A historian who compares the expansion of political system to the expansion of economic system is organizing history by theme.