Political Economy - Philippines

Political Economy Economics, in its most general sense, is the science of scarcity. It deals with the al mountainment and distribution of limited resources to the economic elements concerned. The distribution of these resources is however a complex process involving supply and demand. The trade of goods and services is march in the market. Thus, the market is an essential part of the society. The society force out hardly function without a market where the demands of the people, from the most fundamental necessities to luxury, are generally sufficed. Expansion of the market is a final stage of a lot of economies. The market is a determinant of the quality and the stability of the economy, and the economy is the societys most corporeal and concrete basis of its progress and wealth. Most of the economic giants of the domain are capitalist countries characterized by large corporations producing and distributing capital goods for a profit. Private interests drive capitalism but as what fling Smith described, private interests ultimately lead to the public social welfare by what he called the invisible hand. This is an ideal scenario in the bounteous market. However, minimal intervention of government in the market is restrained advantageous for the nation, as long as the main purport leans toward the benefit of the society.

Most, if not all of the countries in the world put up their government to interfere with the market, giving the government power to fudge the economy. The ability to influence the economy is indeed a massive responsibility, but most of the time, it is seen as a privilege that is real hard to pass. This is clearly shown in the movie Fahrenheit 9/11. The movie shows how George W. Bush used his political position to pee-pee an upper hand in his economic status. It presents how his private interests negatively affected the public that eventually led to hostilities where a lot of people suffered. The social life of the people is greatly be by their economic status. We can see... If you want to get a full essay, order it on our website: Ordercustompaper.com

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