What did you understand from the "Public Economy" argument? How does politics affect our economy, and should it? When only half of eligible to vote citizens actually vote, when politicians sometimes do not listen to economic experts, when impulse sometimes seem dictate the norm by which economic policies are made. What do you think of this all?

 

Answer:

Public economy is that study of the policies given by the government through observing the efficiency and equity of economy. Public economics gives framework of deciding if the government will participate in economic markets and what level does its role reach. Politics have impacts to development of the economy starting from farm based cultures to industries.

Politics causes instability in such it affects policy makers that causes short term policies thus leads to changing of policies that creates volatility hence affecting the economic performance negatively. This should not be happening in such that the government should take control of it and ensure that particular policies are used at a time without switching them .Politicians seem to ignore the economic experts since they want their voice to be heard more. They also go to an extent of going against the economic policies since they have understood norms behind the policies. This is where we see that voice of the public matters for transparency and accountability of government priorities. At times the political voices explode across the country .

The need of democracy and citizens initiatives to prevent those in power from causing eruption to them. The economic experts should ensure that the political voice adheres to the laws and protest to the public that might hinder economic growth of the country due to fact that they are suppress by those in power.