“Types of Political Economic Systems”, Preamble: In this lesson activity
Week 12-DQ #12: “Types of Political Economic Systems” Due: May 8th
Preamble: In this lesson activity you are prompted to examine types of ‘Political Economic Systems’ that have emerged in the world and influenced an economic policy. Please discuss the nation and the political economic system that have chosen to since 2009 and how it has shaped its economic policy! e.g. Argentina, Brazil, US, EU, China or any Asian nation.
Justification:
The Great Recession that began in the United States in 2007 and spread across the globe in 2008–2009 caused not only massive economic upheaval but major political changes as well. For instance, in the decade that followed, governments changed hands in France, Greece, Iceland, Ireland, Italy, Japan, Portugal, Spain, the United Kingdom, and the United States, among other countries. In France, the Socialist Party came to power, while in Greece, the far-left Syriza party won the elections. In the United States, the Democratic Party lost the presidency to the Republican Party. In all of those contests, the state of the economy was a major factor in the incumbent party’s loss. Many analysts saw the effects of the recession as a major cause of the rise of the anti-establishment populism, including the British vote to leave the European Union and the American election of Donald Trump as president. As Bill Clinton’s 1992 presidential campaign put it, “It’s the economy, stupid!” Political leaders in democracies across the globe rise and fall on the basis of citizens’ perceptions of the economy and their own economic well-being.
Since the conclusion of the Cold War, market economies have become nearly ubiquitous. States no longer exert the same level of control over the economy as communist governments did in the past. However, governments retain the ability to intervene in the economy, aiming to stimulate economic growth and influence the distribution of economic benefits. Consequently, the relationship between the state and the market, and the debates that surround it, are pivotal to comprehending modern politics in virtually all corners of the world. While all countries now operate as market economies, their unique histories, positions in the global economy, and economic policies yield vastly different outcomes in terms of wealth, economic growth, unemployment, inequality, and poverty.
Key Economic Theories:
Keynesianism: John Maynard Keynes: Governments should actively manage business cycles,
Neoliberalism: Milton Friedman/Friedrich Hayek: Governments should play diminished role in economy; open economies to global trade
Consider the Great Recession 2007-2009 from the US spreading across the globe until today 2024!
market economy: An economic system in which individuals and firms exchange goods and services in a largely unfettered manner
capitalism: The combination of a market economy with private property rights
types of capitalism economies: varieties of capitalism: (VOC) School of thought analyzing wealthy market economies that focuses primarily on business firms and how they are governed; divides such economies into liberal market economies and coordinated market economies
liberal market economies: (LMEs) In the varieties of capitalism approach, countries that rely heavily on market relationships to govern economic activity; the United States and United Kingdom are key examples.
coordinated market economies (CMEs): In the varieties of capitalism approach, capitalist economies in which firms, financiers, unions, and government consciously coordinate their actions via interlocking ownership and participation; Germany and Japan are key examples.
Further research online to consider and choose for your responses:
The Pink Tide in Latin America
Asian Financial Crisis
EU and US Great Recession
Task and Mission:
Write 300-500 words of bullet points or paragraph suggesting your opinion and choices
Post 2 commentaries to any of your classmates comments of 250- 300 words each for further dialogue and participation.
Try to use terminology, facts from the Chapters and Links.
Suggested Research Guidelines:
Utilize the Online Library, ebooks selected in the syllabus and Links under Module IV.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
