Political Economics
Political economy is a term used for studying production and trade, and their relations with law, custom, and government, as well as with the distribution of national income and wealth. Political economy originated in moral philosophy. It was developed in the 18th century as the study of the economies of states, or polities, hence the term political economy.
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Visual 1- Political cartoon of how politics are destroying the economy
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Visual 2- A choice between politics and the economy
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Important Factors•World Trade Organization (WTO)
• International Monetary Fund (IMF) • North American Free Trade Agreement (NAFTA) • The World Bank |
World Trade OrganizationThe WTO is in charge of dealing with the rules of global trading. It was founded in 1995 and includes 162 members
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International Monetary FundThe IMF is in charge of the global monetary cooperation and secure financial stability. It was founded in 1945 and supports 189 countries.
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The World BankThe World Bank is an international financial institution that provides loans to developing nations and nations in need of reconstruction. It was founded in 1944 and includes 188 members
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