POLS 1303 Lecture 15: POLS 1303 Lecture Notes November 20th
22 Nov 2017
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Document Summary
Politics, culture, and economics are all connected and overlapping. Economics is about the distribution of goods in society (who gets what) Political economy: the connection and/or overlap between politics and economy. Government actions influence what happens in the marketplace. Government can set taxation levels higher or lower and can tax different types of income. Trade agreements: governments can sign trade agreements with other countries and make it more difficult to bring in or take out certain goods. Legalizing certain goods and services: legalization of marijuana will affect what happens to marijuana distributors. Minimum wage: governments establish minimum wage which affects employers and employees. Various other types of regulations that shape or constrain how businesses do their work. Governments also have a hand in creating and maintaining markets. They can create the physical spaces where exchanges take place, and they also create the things that facilitate those transactions (e. g. , money) Wealth (cid:894)(cid:373)o(cid:374)ey(cid:895) is a so(cid:396)t of so(cid:272)ial (cid:272)(cid:396)eatio(cid:374).
