Business & Marketing: Global Political And How It Affects The Economy (Research Paper Sample)
Research on global political and how it affects the economy.source..
Global political economy
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In a world where politics and the economic activities are inseparable, the people's reactions have always played a bigger role in determining the interests of any operating business and how a country is likely to behave. In any economy, the highly achieving individuals are often recognized more than the ordinary ones yet the economy would always depend on both to determine its productivity. The United States' outstanding relations with corporations from all over the world has made it the main station for international politics. ‘Global', as it sounds, is worldwide therefore the name was preferably changed to Global political economy from international political economy, which sounded more of that within related states. It has various approaches that collaborate the political and economic factors which include those on Marx' and state approach. According to Marx, it is observed that the private sector is likely to overtake the government in taking charge of the economy.
The best way to begin discussing this ideas would be through looking at the foundation of this topic; “the liberal approach”, whereby the economists on the same included those in support of the government control as well as those who do not support government involvement in the market. In Karl's discovery, he argued that there was much more in any market apart from just setting market price to determine how much would be sold and ordered. He pointed that opinion from the people was also necessary and everyone was free to choose what they desire since in any nation, there is always a link between the economic, social and political situations. However, he still thought that if an economy's market was self-regulating, it would lead to a large social disruption such as uneven distribution of income, unsolvable arguments when adjustments needs to be done and dormancy in foreign companies than the local ones.
Karl further watched and realized that the change in international market system can also be explained in two processes that seem interconnected. He started that in the case where everyone is free to choose what he or she wants then later the dominators in the economy decide to make their move politically. This new political pressures will contradict the path of reforms. This would later result in formation of resistance groups that will project their desires and demand a new form of rules and controlling parties in the economy, something that would lead to globalizing of markets through social relations among nations.
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