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The Journal of Economic Literature classification codes associate political economy with three sub-areas: (1) the role of government and/or class and power relationships in resource allocation for each type of economic system; [15] (2) international political economy, which studies the economic impacts of international relations; [16] and (3 ...
Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...
However, if we consider that democracy should be supported by some preconditions, it is economic growth that creates these conditions for democracy: industrialization, urbanization, widespread of education and literacy, wealth, and a strong middle class which are involved with the protection of their right and issues of public affairs.
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. [1] A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the distributive consequences of international economic activity.
It might not always seem like it, but individuals have a pretty significant impact on the economy. Many factors influence the economy, including consumer spending, global trade, business investment...
This creates a growing economic class division among the African American demographic accentuated by global economic restructuring without government response to the disadvantaged. Furthermore, Wilson asserts that as the black middle class leave the predominantly black inner city neighborhoods, informal employment information networks are eroded.
Public Economics focuses on when and to what degree the government should intervene in the economy to address market failures. [19] Some examples of government intervention are providing pure public goods such as defense, regulating negative externalities such as pollution and addressing imperfect market conditions such as asymmetric information.
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.