Politics and economics go together.
Economics means are based on production and exchange whereas the political means are based on plunder. When getting richer, one either does not use violence or does make use of it. There is no other way. So, should politics and economics go hand in hand?
For-
- Various western political thinkers have linked political ideology to an economic arrangement.
- Marx’s Capital predicts a classless society within an economic paradigm.
- Left wing-Right wing political divisions predominantly owe itself to differences in economic ideology.
- Leftist translates into welfare economics and the liberal translates into free market economics.
- A state is an economic structure and the polity takes decisions to change or alter various microeconomic units which have a direct impact on the functioning of the state.
- Politicians are interested in conducting as many policies as possible but with justification which can only be done by the help of economics.
Against-
- Economic compulsions will always take preponderance over political ambitions.
- Economic charts out the working of the state.
- Politics is a mere selfish race for power and authority for man.
- There are always flaws in the coordination and exchange of information between politics and economics.
- Politics put pressure on economics to provide with more justification in favor of the policies.
- Economics is not a powerful educating tool in terms of education of the people having political background.
Economics can exist and function without ‘politics’. The points kept by the economist are rarely heard as the politicians do only those things that allows them to make more profit. Economists should start educating those who would rather care to listen to them and not turn a deaf ear towards them.