Lecture 4- Political Economy

Lecture 4- Political Economy - Political Economy Ricardo...

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05/07/09 1 Political Economy Ricardo Rene Laremont
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05/07/09 2 Political Economy How politics and economics are interrelated What role should a state play in managing the economy?
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05/07/09 3 Market Involves interaction of supply and demand A community of buyers and sellers in constant interaction Markets have a life of their own. The question is whether the state should intervene in prices or supply Examples: Pharmaceuticals, Health Care
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05/07/09 4 Public Goods States provide some levels of public goods For example, in Canada the state is active in providing health care. In the U.S. the state does not What should the state provide? What should the state control?
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05/07/09 5 Social Expenditures State expenditures of education, health care, roads, social security
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05/07/09 6 Taxation What is the appropriate level of taxation? 50+%- Germany, Sweden? 30%- U.S.? 20%- Japan Taxation pays for public goods: roads, health care, defense, schools, police, social security
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05/07/09 7 Money, Inflation, and Unemployment State creates and manages money States can try influence the money supply and inflation through a central
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This note was uploaded on 05/10/2008 for the course SOC 118 taught by Professor X during the Fall '08 term at Binghamton.

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Lecture 4- Political Economy - Political Economy Ricardo...

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