The ratio of law, politics and economics. The role of politics and economics in society

2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:55

In modern nation-states, people form political parties to represent their ideas, and this process well exposes the relationship between law, politics and economics. They agree to take a common position on many issues and agree to support the same legislative changes as well as common leaders.

Elections in the modern world

Elections are usually a competition between various parties, increasing the role of politics in society. Some examples of political parties are the African National Congress (ANC) in South Africa, the Tories in the UK and the Indian National Congress.

What is politics

Politics is a multifaceted word. It has a set of rather specific meanings that are descriptive and impartial (e.g., "the art or science of government" and "principles of government"), butoften carry a negative connotation. For example, the negative connotation of politics, as seen in the phrase "play politics", has been in use since at least 1853, when abolitionist Wendell Phillips declared, "We don't play politics, and the anti-slavery movement is no joke to us."

Policy Features

Various methods are deployed in politics, which include promoting one's political views among the people, negotiating with other political actors, passing laws, a reasonable balance between law, politics and economics, as well as the use of force, including war against opponents. Politics is carried out at a wide range of social levels, from the clans and tribes of traditional societies, through modern local governments, companies and institutions, to sovereign states at the international level.

Power and politics

It is often said that politics is power. The political system is the framework that determines the acceptable political methods for solving the problems of society. The history of political thought can be traced back to early antiquity, thanks to such classics as Plato's Republic, Aristotle's Politics, and some of Confucius' writings.

Policy classification

Formal politics refers to the functioning of the constitutional system of government and publicly defined institutions and procedures. Political parties, public politics, or discussions about war and foreign affairs fall under the category of official politics. Many people view formal politics as somethingdetached from everyday life, but it can still affect their daily lives.

Semi-formal politics is politics in governmental associations, such as neighborhood associations or student parliaments, where co-governance is essential.

Informal politics is understood as the formation of alliances, the exercise of power, and the defense and promotion of certain ideas or goals. Typically, this includes anything that affects daily life, such as running an office or household, or how one person or group affects another. Informal politics is usually understood as everyday politics, hence the idea that "politics is everywhere" and the role of politics in society is increasing.

The concept of the state

The origin of the state can be traced by studying the origin of the art of war. Historically, all political communities of the modern type owe their existence to successful warfare. The connection between law and economics and politics appeared much later.

Kings, emperors and other monarchs in many countries, including China and Japan, were considered divine. Of the institutions that ruled over states, the ruling dynasty stood in first place until the American Revolution ended the "divine right of kings." Nevertheless, the monarchy ranks among the longest-running political institutions, from 2100 BC in Sumer to the 21st century AD under the British Monarchy. Monarchy is being implementedthrough the institution of hereditary power.

The king often, even in absolute monarchies, ruled his kingdom with the help of an elite group of advisers, without whom he could not maintain power. As these advisors and others outside the monarchy negotiated power, constitutional monarchies emerged, which can be considered the germ of constitutional government.

The greatest of the king's subordinates, the earls and dukes in England and Scotland, always sat at the top of the council. The conqueror wages war on the vanquished for revenge or for plunder, but the victorious kingdom demands tribute. The priority task of the state at that time was war. One of the council's functions is to keep the king's treasury full. The other is the satisfaction of military service and the establishment of the legitimate authority of the king to solve the problem of collecting taxes and recruiting soldiers. Thanks to this, the connection between law and economics and politics began to appear.

Forms of political structure

There are many forms of political organization, including states, non-governmental organizations (NGOs), and international organizations such as the United Nations. States are perhaps the predominant institutional form of political governance, where the state is understood as an institution and government is understood as a power within power.

According to Aristotle, states are classified into monarchy, aristocracy, timocracy, democracy, oligarchy and tyranny. Due to changes in policy history, this classificationis now considered obsolete. This is largely due to a change in the relationship between law, politics and economics.

States

All states are varieties of a single organizational form, a sovereign state. All the great powers of the modern world are based on the principle of sovereignty. Sovereign power can be vested in either an autocratic ruler or a group, as is the case under constitutional government.

The Constitution is a written document that defines and limits the powers of the various branches of government. Although the constitution is a written document, there is also an unwritten constitution. It is constantly written by the legislative branch - this is just one of those cases where the nature of the circumstances determines the form of government that is most appropriate.

England set the fashion for written constitutions during the Civil War, but after the Restoration rejected constitutional rule, the idea was taken over by the liberated American colonies, and then France, after the revolution, ensured the triumphant return of the constitution to the European continent.

Forms of government

There are many forms of government. One form is a strong central government, as in France and China. Another form is local government, such as the ancient counties in England, which are comparatively weaker but less bureaucratic. These two forms helped shape the practice of federal government, first in Switzerland, then in the United States. States in 1776, Canada in 1867, Germany in 1871 and Australia in 1901.

The federal states introduced a new principle of agreement, or contract. Compared to a federation, a confederation has a more fragmented system of judiciary, and hence a different balance of law, politics and economics. In the American Civil War, the Confederate States' claim that a state could secede from the Union was invalidated by the power the federal government exercised in the executive, legislative, and judicial branches.

Constitutional republic on the example of the US Constitution

According to Professor A. V. Ditzi in "Introduction to the Study of the Law of the Constitution", the essential features of the federal constitution are:

1. A written supreme constitution to prevent disputes between federal and state jurisdictions, and to set the concept and principles of law in a given country.
2. The distribution of power between federal and state governments.
3. The Supreme Court, with the power to interpret the Constitution and enforce the rule of law, independent of the executive and legislative branches.

Relationship of economics with politics and law

Economics is only one of the social sciences, and therefore has areas that border on other scientific areas, including economic geography, economic history, public choice, energy economics, culturaleconomics, family economics and institutional economics. Separately, it is worth mentioning the economy and business, because in the modern world these concepts are practically inseparable.

The economic analysis of law is an approach to legal theory that applies the methods of economics to the legislative realm. It involves the use of economic ideas to clarify the consequences of the adoption of new legal norms, as well as assessing which legal norms are cost-effective, and creating a forecast of socio-economic development.

The original article by Ronald Coase, published in 1961, suggested that clearly defined property rights could help overcome economic problems that depend on external factors. This discovery changed the way economists approach economics and business.

Energy economics is a field that includes topics related to energy supply and demand. Georgescu-Rogen re-adapted the concept of entropy to economics, borrowing politely from thermodynamics, and contrasting it with what he saw as the mechanistic basis of neoclassical economics, ostensibly based on Newtonian physics. His work has made significant contributions to thermoeconomics and ecological economics. He also published a major work, which later helped develop such an interesting direction as evolutionary economics - an absolutely indispensable discipline for creating a forecast of socio-economic development.

Politics, economics and sociology

The sociological support of economic sociology arose, first of all, thanks to the work of the outstanding scientist Emile Durkheim, theorist Max Weber and Georg Simmel on the analysis of the effects of economic phenomena in relation to the modern social paradigm. Classics include Max Weber's The Protestant Ethic and The Spirit of Capitalism (1905) and Georg Simmel's The Philosophy of Money (1900). Relatively recent work by Mark Granovetter, Peter Hedström, and Richard Svedberg has been extremely influential in this area, expanding understanding of the role and function of the economy.

Political economy

Political economy is the study of production and trade and their relationship with law, tradition and government, including the distribution of national income and we alth, the development of social programs, etc. How did the discipline of political economy emerge from moral philosophy at 18 th century, and its purpose was to study the management of the we alth of states. The earliest work on political economy is usually attributed to the British scholars Adam Smith, Thomas M althus and David Ricardo, although they were preceded by the work of French physiocrats such as François Quesnay (1694-1774) and Anne-Robert-Jacques Turgot (1727-1781).

In the late 19th century, the term "economics" gradually began to replace the term "political economy" due to the rise in popularity of mathematical modeling, coinciding with the publication of Alfred Marshall's influential textbook in 1890. Formerly William Stanley Jevons, supportermathematical methods applied to this subject, advocated the term "economics" for the sake of brevity and with the hope that this term would become the "recognized name of science". Citation measurement figures from the Google Ngram Viewer show that the use of the term "economics" began to overshadow "political economy" around 1910, becoming the preferred term for the discipline by 1920. Today, the term "economics" usually refers to a narrow study of economics that lacks other political and social considerations, while the term "political economy" represents a separate and competing scientific approach.

Features of political economy

Political economy, while sometimes used as a synonym for economics, can refer to very different things. From an academic point of view, the term can refer to Marxist economics, apply public choice approaches emanating from the Chicago Virginia School, and engage in research on crises and social programs.