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Politics affects economics in terms of what policy to pursue (such as monetary or fiscal policy)... should taxes be raised? should the government spend more on social welfare programs? should we restrict big businesses (many businesses are financial contributers to political parties... both conservative and liberal)?
And of course through the rumored "political business cycle" which supposedly is when incumbent politicians take actions (when they are up for re-election) that makes favorable (but very short-term) economic standing. After elections, the economic policies supposedly return to normal (taxes go back up etc.)...
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Explain the difference between mercantilism and liberalism?
The difference between liberalism and mercantilism is economics driving politics v.s. politics driving economics. The liberals view of economics and politics as discrete, and very different. Mercantilists grant primacy through politics within the exclusion of all else. That's the real difference--ideological, not economical.
What is the study of economics an important exercise?
why is the study of economics an important exercise
How does sectionalism affect economics and politics?
it does not allow people to see in the future
What is the best way to briefly describe Karl Marx's view of politics?
In a brief manner, it can be said that Marx's view on politics was based on economics and class struggle. From these two ideas, flows the nature of politics.
Justify why it is important to study economics?
It is important to study economics so that you understand the market. You need to understand why you pay what you do for the things you value.
Importance of economics as a science to a political science student?
Well, in politics, the economics and finance is very important in politics, so your party or office can do something. Funding is very important.
Is it politics that came first or economics?
economics
What is the difference between economics and politics?
Regardless of the type of government, Politics and Economics have a 'chicken & egg' relationship. While politics sets the rules and laws that enable economics to succeed, business (economics) tells the politicians what works, what doesn't work, and what they want to maintain profitability.
Explain the difference between mercantilism and liberalism?
The difference between liberalism and mercantilism is economics driving politics v.s. politics driving economics. The liberals view of economics and politics as discrete, and very different. Mercantilists grant primacy through politics within the exclusion of all else. That's the real difference--ideological, not economical.
What has the author Slack Worthington written?
Slack Worthington has written: 'Politics and property' -- subject(s): Miscellanea, Economics 'Politics for prudent people, or, The phronocrat' -- subject(s): Consumption (Economics), Distribution (Economic theory), Economics, Wealth
What has the author CunninghamhW written?
Cunningham.hW. has written: 'Politics and economics'
What is politics and what is economics?
Politics deals with how to govern or control, to manage public affairs. Economics discusses economic policy. It takes a government to govern and to control, but it is the government to execute its economic policy.
What did Copernicus study in school besides astronomy?
He studied medicine, math, Economics, politics, and had a doctorate in canon law.
What is the study of economics an important exercise?
why is the study of economics an important exercise
What are three examples of how Christianity influenced society?
Culture, economics, and politics.
How does sectionalism affect economics and politics?
it does not allow people to see in the future
How are economic and politics linked in Central America?
In Central America, Economics can sometimes shift politics into becoming less moral and more business-oriented
