This paper will discuss the relationship of politics to economy, giving the views of the capitalist and socialist blocs.
Politics relates to economy in the sense that neither politics nor economics can survive on their own (Gilpin, 1987). There has to be a political and economic organization that sets the regulations of engagement, and that decides the form of that engagement. The shape and function of the global economic scheme is, to a large level, dictated by the shape and operation of the global governing system. Political apprehensions also tend to shape up economic distresses. The political concerns of weather change for instance have considerable suggestions for economic laws. The need for a greener nation will demand dramatic changes in the nature of technology and certainly all factors of the production (Gilpin, 1987).
In conclusion, to a capitalist state, the relationship between politics and economy falls as power concentrates in the hands of wealthy business individuals, who aim largely make the most of profits. Socialist economies, alternatively, would more likely allow greater management by the government, which looks to put political goals ahead of