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Chapter 2 Notes Political Economy 30003

by: Alex Simpson

Chapter 2 Notes Political Economy 30003 POL-30003-001

Marketplace > Kent State University > Political Science > POL-30003-001 > Chapter 2 Notes Political Economy 30003
Alex Simpson

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Textbook Notes from Chapter 2.
Political Economy
Mark K. Cassell
Class Notes
political, economy
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This 3 page Class Notes was uploaded by Alex Simpson on Wednesday September 21, 2016. The Class Notes belongs to POL-30003-001 at Kent State University taught by Mark K. Cassell in Fall 2016. Since its upload, it has received 7 views. For similar materials see Political Economy in Political Science at Kent State University.

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Date Created: 09/21/16
Political Economy: Chapter 2 Notes 09/05/2016 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:  Students: Education  Consumers: Invest in many choices  Workers: Choices in jobs and work hours  Businesses: Employment and wage payments, investment, and prices  Speculators: Review portfolio of assets, buy and sell  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: Private vs.  Institutions Public Services Voluntary or Government Commodificatio Welfare n of Social Life Provision State : These ways of providing coexist in any society, but their relative importance varies. distribution of Market : Goods There are recurrent tensiogoods isen them. and services organised by produced for central exchange coordinating  Spatial Scales agency National SovCommunity : ALEKSANDRA SIMPSON Production and 1 ydistribution of goods Political Economy: Chapter 2 Notes 09/05/2016 Nation : National coordnation of productive World : activity. Increasingly Governments important try to manage the economy Regionali Global sm Locality : Local Cities consumption Tensions may occur in relation to national sovereignty, development of global cities, and regional development.  Systems Equity Ecological Sustainabilit 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 Political Economy: How the balance between economic, social, and ecological concerns is affected by the relationships market, state, and community, and between local, national, and global scales of economic organization. on social  We areandtors who may improvise. It helps to know what is going on and what Society oecological are, individually and collectively. preconditio Key Points: ns ALEKSANDRA SIMPSON Ecology 2 Political Economy: Chapter 2 Notes 09/05/2016  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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