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KSU / Political Science / POL 30003 / What is the meaning of economic context?

What is the meaning of economic context?

What is the meaning of economic context?

Description

Political Economy: Chapter 2 Notes 09/05/2016


What is the meaning of economic context?



Economic Context: Risk and uncertainty

∙ Barriers: distance and national boundaries are being eroded (political,  cultural, economic dimensions)

∙ Growing transnational corporations’ power

∙ Nature of Work:  

o Unemployment

o Aging workforce

o Women in work

o Manufacturing vs. Service sector jobs

∙ Imbalances of trade and debt between nations

∙ Analyze underlying forces and to posit some effective solutions Economic Decisions: Don't forget about the age old question of What are the mental processes involved in perception?

∙ Students: Education

∙ Consumers: Invest in many choices

∙ Workers: Choices in jobs and work hours


What is the meaning of economic decisions?



If you want to learn more check out What is the role of government?

∙ Businesses: Employment and wage payments, investment, and prices ∙ Speculators: Review portfolio of assets, buy and sell We also discuss several other topics like What countries have an egalitarian society?

∙ Banks: Loans, interest rates (profits under continual review

∙ Government Ministers: Economic policies

Micro Decisions: Macro outcomes. Link between micro personal decisions and macro societal choices.

Basic Political Economic Principles:

∙ Institutions

Voluntary or  

Government  

Welfare  

Provision

State:  

Private vs.  

Public


What is the meaning of micro-decisions?



Services 

Commodificatio n of Social Life

Production and  

These ways of providing coexist in any society, but their relative importance varies.  Don't forget about the age old question of How to store a matrix into a program?

distribution of  

goods is  

There are recurrent tensions between them. organised by  

central  

coordinating  

agency

Market: Goods  and services  produced for  exchange

Community:  

Production and  

ALEKSANDRA SIMPSON 1 distribution of  

goods

Political Economy: Chapter 2 Notes 09/05/2016

∙ Spatial Scales

Nation: National  coordnation of  productive  

activity.  We also discuss several other topics like Why does sex categorization matter?

Governments  try to manage  the economy

National  

Sovereignt

y

World:  

Increasingly  important

Regionali

sm

Locality: Local  consumption

Global  

Cities

Tensions may occur in relation to national  sovereignty, development of global cities,  

and regional development.

∙ Systems

Ecological  

Sustainabilit

Equity

Don't forget about the age old question of What is the meaning of blood types?

Quality of  

Life

*Availability of labor and natural resources have major social and environmental  consequences.

∙ Political economy necessarily focuses on these connections ∙ All of this is dependent on social choices

Economy*:  

Depends  

Political Economy: How the balance between economic, social, and ecological  on social  

concerns is affected by the relationships market, state, and community, and  

and  

Society 

between local, national, and global scales of economic organization.

ecological  

preconditio

ns

ALEKSANDRA SIMPSON 2 Ecology 

Political Economy: Chapter 2 Notes 09/05/2016

∙ We are actors who may improvise. It helps to know what is going on and what our options are, individually and collectively.

Key Points:

∙ Political economy emphasizes the context within which an array of individual  decisions are made:  

o Decisions about production of goods and services

o Work and wages

o Consumption choices

o Savings and investment

o Economic and financial management

∙ Economic activities can be organized in different ways, involving various  combinations of market, state, and community decision making.  ∙ Can be organized at various scales:

o Local

o National

o Global

∙ The nature of these arrangements has a major bearing on the social and  ecological impacts of economic activities.

∙ The current political economic context features substantial uncertainty and  risks.

ALEKSANDRA SIMPSON 3

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