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Political economists are keen to know the profit and losses accord by the implementation of current policies. Economists get a fair idea about how many people are liking and disliking the policy. Political economists also assist with the ways in how people increase their utility by showing their support and interest in political activities.
Our team of political economics assignment help service has come with the following main elements of the political behavior of an economy:
The interest of individuals or a group can clout a policy by showing their power. People who are associated with the government, tend to look after their own political and economic interests which help them in gaining more power. People who aren't associated with the government are concerned with the outcomes and results of the implemented economic policies.
The constitution consists of guidelines that explain the process of selecting a ruler. They also tell how policies can be actualised. The institution creates the motivating force that comforts the people in the economy.
Ideas have a significant impact on the policies and political and financial interests. The common folks cannot evaluate the result of the options given to them. By including ideologies in economic models, political powers can be trained by the elements away from personal interest. People with political interests wish to remain in politics because they want to make the world a better place.
There are three vital ideologies of modern economist's theories. Our political economics experts have defined these ideologies in detail. Let us have a look at the ideologies:
The ideology of Liberalism was derived from the concept that was based on labor, wages, use and exchange of land, long-lasting products made by laborers. Every economist associated with Liberalism believes that a country's economy can benefit every person, and society can progress by improvement in the living standard of people. Liberalist believed that the need or wants of a community is greater than the wants of an individual for making the right decision.
In this theory, economists believed that the state possesses every necessary and required power, and this must work in a way that could make out the maximum economic benefit to all. Under the ideology of economic nationalism, it is described that the government should control all the resources of the state. Individuals use their brains according to their might, thus, cannot build a united society without a well-built state.
Marxist economists believe that the generation of resources is from labor and exchange. Marxists were against the privatisation of resources as it creates inequality within society. They believed that privatisation only fulfills the pockets of the elite and not society as a whole.
Our political economy experts can help you in understanding all these theories and ideologies in detail. Once you have extensive knowledge of all theories of the subject, you can draft an outstanding assignment on political economics by yourself.
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