Political Economics

Economics is simply defined as “the branch of knowledge concerned with the production, consumption, and transfer of wealth”, while politics is defined as “the activities associated with the governance of a country or other area, especially the debate or conflict among individuals or parties having or hoping to achieve power”. Economics focuses on money while politics focuses on power. An ideal economics should ignore all political bias and prejudice and focus on excelling the economy of the country, and one would hope that power and money do not have a large overlap. But if you were to ask an economist about their opinion on tax cuts it would almost immediately turn to a political argument. Politics and economics do have a large influence on each other. Many economic decisions are made based on political opinions and public voting. Just look at your parent's ballot during voting time, many of the different titles trying to get passed have to do with money and the movement of money, and therefore affect the economy in some way. Any particular economic policy has the possibility of adding wealth to some people and subtracting wealth from others. Economists may be inclined to split as more Democratic or Republican so depending on what party is more in power, they are there and ready as support for specific policies and how it will “positively” help the economy. Just a theory of mine especially since as humans we have this need to belong to a specific group. That does not mean economist are free of that need, it is still very much there and these two political sides (Democrats vs. Republicans) have a very big influence on political, social, and ECONOMIC policies/ideas/values.