Political Institutions and their Effect on Economic Policy

A detailed Summary of Political Institutions and their Effect on Economic Policy

Imagine, if you will, a country with no political

institutions. A country ruled by anarchy. What kind of

economic policy would this country have or would it have one

at all? Now imagine a country with highly powerful and

regimented political institutions. What kind of economic

policy would this country have? The two fictitious

countries mentioned above would certainly have very

different economic policies. The first would probably be

lucky to even have an economic policy at all. Its citizens

would live in a world of economic uncertainty, never knowing

what their future may hold. On the other hand, the citizens

of the second country, although possibly unhappy with their

ruler, would at least have a pretty good idea of their

economic future. These citizens would be able to place

their money in banks and exchange it in international

markets. They could save for their future without the fear

of having everything taken from them at any given moment.

What is it though that makes the economic policies of these

institutions, such as, the Congress and the Parliments may

related to a country's political institutions. Regime type

this point, though, would have to be to ponder the question

Organization. Washington D.C.: Working Group on the

not exist. The law of the land was every man for himself.

In an ever changing world the economic policies of the

still have economic policies no more sophisticated than

institutions in place charged with the challenge of creating

Approximate Word count = 1471
Approximate Pages = 6 (250 words per page double spaced)

Category: Politics

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