Politics, the economy and society are three very interrelated entities. The structure of an economy and an ideal organization of a society has given rise to political ideologies which played an integral part in major world events for example, during the Cold War.
Similarly, political parties manipulate the public by means of claims to bring economic revival in a society in terms of inflation, unemployment, corruption, inequality, etc. All these involve the amalgamation of politics and the economy to influence the direction of a society.
It is true that an economy, its structure and stance over any period of time directly or indirectly influences the political system in a society. However, it is also a fact that politics influence the operations of an economy over a given period of time in many ways. For example, a government's decision to go into war imposes negative externalities on the economy and negatively effects the civil society and the business environment in a society as investors become reluctant to invest in an economy whose investment climate cannot be trusted.
Therefore, when on one hand it is true that an economy directs great influence on its political system, it is also recognisable that politics also plays an integral role in the direction of an economy and ultimately, a society.
1 comment:
I agree with you now the economy of a country has now become a tool for the political parties and for politicians to pitch themselves at the time of elections without even thinking is it even possible the claim they are making. Party in power always take decisions regarding to economy which make them look good in front of the public no matter how much a certain decision might damage the economy in reality
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