POLS 3125 Chapter Notes - Chapter Introduction : Public Choice, Market Structure, North American Free Trade Agreement
17 Dec 2017
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Document Summary
Next decades canadians will face many serious challenges and crises. From depletion of key natural resources and need for environmental protection to stresses of further sociocultural integration with the us. Country will have to adjust its economy to the continentalist pressures set in place by the. Nafta and to international pressures created by globalization of business and commerce. Political economy studies regulation of social and natural resources used in production and distribution of goods and services in society. All modern societies depend on two principal institutions for making such decisions: state and market. Market belongs to realm of economy: study of both integral part of political economy. Specific mix of state and market institutions found with nation-state constitutes that nation"s political economy. Political economy focuses on biases in structure and processes of state/market: biases that systematically favour some members of society over others.
