Politics and Economics Persuasive Essay by Top Papers

Politics and Economics
An argument that political leaders today are extremely reluctant to use economic policy instruments in their favour.
# 142225 | 1,500 words | 6 sources | 2008 | US
Published on Dec 01, 2008 in Political Science (Fiscal Policy (economy)) , Economics (General)


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Description:

The paper relates that today, near the end of the first decade of the early 21st century, global financial markets have experienced a "meltdown" on a scale not seen since the beginnings of the Great Depression. The paper discusses how national governments and central banks have responded to this crisis with a range of interventions in the market that have fostered the popular view that Keynesian economic policy has made a reappearance on the global stage. The paper explains that this context has reignited the debate over the relationship between politics and economics, how each constrains the other, and whether political intervention in the business cycle is effective and/or desirable. The thesis is argued - with particular reference to stagflation and political-economic interaction in the 1970s - that while political actors feel their fortunes constrained by the business cycle which they attempt to manipulate in their own interest, high levels of continual manipulation can have consequences that are ironically self-defeating for the political actors. Thus, political "Natural Selection" has led to the evolution of a generation of political leaders who - although recognizing the constraints of economics on their political fortunes - are extremely reluctant to use policy instruments in their favour for fear of unintended consequences.

From the Paper:

"Today, near the end of the first decade of the early 21st century, global financial markets have experienced a "meltdown" on a scale not seen since the beginnings of the Great Depression. National governments and central banks have responded to this crisis with a range of interventions in the market that have fostered the popular view that Keynesian economic policy has made a reappearance on the global stage. This context has reignited the debate over the relationship between politics and economics, how each constrains the other, and whether political intervention in the business..."

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APA Format

Politics and Economics (2008, December 01) Retrieved August 08, 2020, from https://www.academon.com/persuasive-essay/politics-and-economics-142225/

MLA Format

"Politics and Economics" 01 December 2008. Web. 08 August. 2020. <https://www.academon.com/persuasive-essay/politics-and-economics-142225/>

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