Chapter 2 Notes Political Economy 30003
Chapter 2 Notes Political Economy 30003 POL-30003-001
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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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