Political economy

the leisure class seeks to, “retard the movement and to conserve what is obsolescent,” (198). It is important to realize that this class came to be under the guides of the current economic system, and does not seek to halt any of the material and political advantages that allowed them to gain a status of leisure. According to Veblen, “the wealthy class opposes innovation because it has a vested interest […] in maintaining the present conditions,” (199). The values that hold for a conservative…

types of laws on them. These types of restrictions can be imposed in several different ways, each of which have benefits and drawbacks to society. The government’s priority is not how prosperous the company is, they simply care about how stable the economy is after the company’s economic actions. Through the use of legislation, these government and regulatory bodies are able to force companies to make decisions they otherwise would not have made. This, as a result means that true economic…

government’s right to rule. Tunisia is a prime example of a government that was – or seemed like – it was doing well politically, as well as socially, and the people believed in the government’s leadership. However, when the public noticed that the economy was becoming unstable, wages were lowered, etc., their disproval increased. They no longer believed in the government’s right to rule because they weren’t being protected or provided with basic opportunities (like having a job to make money in…

income. A significant attempt to correct the limitations of the neoclassical approach was the concept of the New Economics of Migration. It pays special attention on micro level and allows to take into consideration the response elements of the economy on rational expectations of the migrating population. In this theory, migration is seen as a family strategy aimed to minimize the risk of sharp fluctuations of income through diversification and to overcome the financial constraints of the…

Economic Crisis in South Africa Unemployment in South Africa is a major problem, that the country has to face. The main problem of unemployment in South Africa is wage bargaining. The effects of the problem is high prices, less labor and an increase of wages. Many different efforts have been made by South Africa to approach this problem. The only way to completely stop unemployment is to fix the wage bargaining as a whole. The number one cause for the unemployment in South Africa, is wage…

functioning on its own. The nested economic interest of underlying the process of globalisation include increase in the inflow and outflow of foreign capital in the country, shift from manufacturing to service sector and finance and opening up of the economy to make space for international economic activities; as a result of this, the urban spaces have had to redesign themselves in order to facilitate these. . It can be observed, especially in the case of India,…

After the end of the war in 1970, the Vietnamese economy declined because of the destruction resulted from the war. Infrastructures were destroyed such roads, bridges, ports, electricity, water supply, schools, hospitals, etc. These essential things had to be repair primarily. The country lacked of human resource because many people died and disabilities by war. Furthermore, Vietnam is an agricultural country to do farming on the land, unfortunately, the land used to be a battle ground were…

Introduction to the article : This is an analysis of the article ‘’Why Should the Global Reserve System Be Reformed?’’ from José Antonio Ocampo , he is a Professor and Director of the Economic and Political Development Program at the School of International and Public Affairs and Fellow of the Committee on Global, Thought at Columbia University; He holds a BA in Economics and Sociology from the University of Notre Dame, and a PhD in Economics from Yale University .He has received a number of…

concept of man. By linking Islamic economics across the western economy to determine topics search tool. The debate about the process of becoming the Islamic methodology in dealing with the priorities of economic activity, where most Islamic economists consistently critique scientific character and to highlight the lack of availability in the western economic system. For that, Muslim economists resorted to divide the western economy between the scientific section features neutrality…

residents as many of them attempt to create a better life for their families. A small slum located near the Mumbai airport, Annawadi highlights the juxtaposition of an Indian underclass and the growing economy of the country around them. While so many of these families, through an expanding global market economy, can see the benefits of globalization and capitalism, the potential upsides of these systems maintain out of reach as most Annawadians deal with the harsher realities of poverty,…