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Why can't politics and economics be seen in isolation?

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Politics and economics can't be seen in isolation because the political system of a country determines how its economic goods are distributed.

Different political ideologies have different ideas about the best way to distribute a society's wealth. Some political ideologies, especially those that have been prevalent in the last forty...

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Politics and economics can't be seen in isolation because the political system of a country determines how its economic goods are distributed.

Different political ideologies have different ideas about the best way to distribute a society's wealth. Some political ideologies, especially those that have been prevalent in the last forty years, favor putting as much wealth into the hands of the private sector as possible. This is because the private sector is believed by some to be the most efficient at managing wealth, with profit as the core motivation. However, this has led to a bottleneck of money at the very top of the system, which is inefficient: money that would be spent in consumer or small business hands boosting the economy now becomes a drag on the economy because it is not invested in productive activities. However, some would argue that despite its problems, it is still the best system for creating wealth.

Other political ideologies, such as socialism, advocate putting most of a country's wealth into the hands of the government. In this system, the idea is that profit should not be the main motive for life, but instead, ensuring that everyone in a society has access to wealth and capital. Ensuring that everyone has decent housing, nutrition, health care, and education liberates people to reach their highest potential, and a country of high achievers cannot help but create wealth. Much research has also shown that people—even the wealthy—are happier and less anxious in countries that ensure social justice.

Through much of the mid-twentieth century, the United States was a mixed economy, by which is meant that government shouldered a number of economic responsibilities deemed better handled by it (especially if not very profitable or necessary for national security) and the private sector shouldered the rest. Many would argue that this system worked very well and that restoring that balance would improve lives for many citizens.

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