7 pages/≈3850 words
Business & Marketing
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 Name of the student: Date of submission: 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. Often everything that came to be in this worlds has someone or something behind it. In our case we have Richardo and Smith, the original heroes of the liberal approach. Smith preferred a situation where te government was never involved but only the price would influence the market behavior. Similar to Richardo who also agreed that a free market would allow each person to enjoy whatever they get based on their strategies. They both believed that this would be to the benefit of the whole world. Smith believed that productivity would increase in a case where every individual is given a task that they can perform at their very best. As opposed to Karl, an economy where the state is not in control, then the economy would grow. However, the increasing division of labor has led to global inequity in this modern era. As well-known, man is not an island therefore in this world it is common to find countries collaborating on the surplus produced. A good example is oil. Therefore the policies of trading formed tends to be collaboration with other countries. For example, the UN which benefited from working with the Greenpeace. Liberals tend to always give room for criticizing as well as positive remarks. Some see the benefit of competition among states and many companies of different nations while others see the shortcomings of trying to change the global behavior of companies. A better way of describing social change agents would be by saying that they are laborers who depend on the economy for productivity. Its modified version would be that in this present age, the workforce of a nation can decide to work for another country where their skills are needed. This is opposed to the past where all production and its factors could only operate within the nation of origin without moving out of the border. In any developing nation, change is inevitable since it’s so clear how technology has enabled interactions among enterprises and further their growth from just a nation based firm to a worldwide operating firm. Financial literacy is very key in any person’s life regardless of their career, current financial status, business state or type among others. In 2008, it was noted that the failure of any country’s banking system and irresponsibility of the high income earners in any society would lead to a bad financial crisis of any country and later the entire globe. Afterwards, operating firms were to reform and fit in the new budgets after reducing their cost of production. The owners of the firms were also requested to support the new strategies to support the government in increasing job opportunities. The underprivileged have also attempted to befriend the abled societal people to form movements that help people in communities around the globe. This has helped bring about redistribution of income and equity thus promoting globalization. Migration as a whole has increased the interactions among people from different countries. Polanyi’s argument becomes useful in this context where people move from one country to another. Often migration of people is highly restricted as compared to transport of goods and services. Thus it is highly controlled for example for one to migrate to Canada he or she must have distinguishing skills to obtain an entry visa. Similarly, the availability of space is taken into consideration. However, as time went by these restrictions reduced thus easier for one to move to a new country. There comes another category of the billionaire’s club in every nation who play a big role in the decision making process in their governments. These people are not only known for wealth but also for their ability to solve problems in their societies such as reducing poverty, promoting health, enhancing education and democracy. Surprisingly, their charity and business activities are run globally. They often use their wealth for the economic and social gain. They use their potential to benefit the larger society that could be a threat or a blessing to the business. Therefore, they ensure that they upheld their societal interests before their personal ones. As we all know, entrepreneurship is about solving problems and then the rest comes as a reward. A good example is where Zuckerberg makes billions of US dollars from donating Facebook shares of couples to many global projects. Therefore, the company lots of profits and at the same time donates to some of the government issues. Limited companies can freely transfer their shares as compared to the unlimited ones which have many restriction rules. Thus service and good profit would always go handy in any business. The activities of successful entrepreneurs often are guided by creating a global social impact then fame and wealth often comes as a plus. As it was observed at the current world economic forum, the main aim of such yearly meeting usually are to discuss the social activities being done about the main problems in this world. In the 2016 meeting held in Canada, the story was the same, the desire to reduce the gap between the private and the public to create a comfortable world where e...
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