Why Cannot Politics And Economics Be Seen In Isolation?

kcfield
  |     |   188 posts since 2012

The relationship between economics and politics: 6/14/20 writer: Tejvan Pettinger

Article link/source: https://www.economicshelp.org/blog/11298/concepts/the-relationship-between-economics-and-politics/

Date of article: 6/14/20. Author: Tejvan Pettinger

A summary of the article is pasted below; however please read the entire article as the author addresses both sides of the matter.

"Economics is concerned with studying and influencing the economy. Politics is the theory and practice of influencing people through the exercise of power, e.g. governments, elections and political parties.

In theory, economics could be non-political. An ideal economist should ignore any political bias or prejudice to give neutral, unbiased information and recommendations on how to improve the economic performance of a country. Elected politicians could then weigh up this economic information and decide.

In practice there is a strong relationship between economics and politics because the performance of the economy is one of the key political battlegrounds. Many economic issues are inherently political because they lend themselves to different opinions."




CuriousDave
  |     |   233 posts since 2018
A somewhat different take: when we compare capitalistic versus socialistic societies, it seems that in capitalist societies, whoever controls the economics controls the politics, while in socialistic societies whoever controls the politics controls the economics.
kcfield
  |     |   188 posts since 2012
CuriousDave: That is an insightful and helpful perspective--thank you for your comment.


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