This paper explores the economic systems that influence states' economic policies.
Written in 2007; 995 words; 5 sources; MLA; $ 35.95
Paper Summary:
The paper examines the economic systems of mercantilism, liberalism and structuralism that determine how governments operate. The paper shows how in terms of the role of the state, they can be seen as points along a continuum of state influence and control, with liberalism being the least controlling and structuralism being the most invasive.
"Economic systems provide the philosophical rationale within which governments operate. Without them, governments, and hence the state, would quickly devolve into erratic economic policy swings that would undermine not only the economy but the social fabric of the state as well. Mercantilism, liberalism, and structuralism can be thought of as blueprints by which the state operates and from which its policy emanates. Mercantilism owes some of its early development to Adam Smith but its economic influence still radiates across global markets today in the form protective barriers to free trade and economic imperialism. Liberalism in the context of economic development and policy has been termed laissez-faire in that its advocates a hands-off policy in terms of economic controls but, in fact, this is only partially accurate. Finally, structuralism finds its strongest advocates in Marx and Marxist economists who view the free market policies of the former systems to be responsible for much of the 3rd world's lack of development and, to a certain extent, they are accurate."
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