Study Lecture Notes

Menu
  • Computer Science
  • Education
  • Journalism and Mass Communication
  • Management
  • Marketing
  • Political Science
  • Sociology
  • Uncategorized

Political Concerns Shape Economic Policy

Political concerns shape economics policies oriented policies are economic oriented. It has become an explicit tool of national strategic and diplomatic policy.

Embargo

Oil embargo of 1973 by Arab was to pressurize European countries to maintain good relations with Arab world France applied an embargo to weaken UK during Napoleonic wars League of Nations embargo against Italy after its invasion of Ethiopia, USA embargo against communist Iran in 1980 to release its American hostages.

Trade Policy

Trade policy can be used for defensive military purposes. Alexander Hamilton argued that US should establish a domestic manufacturing system through trade protection to avoid dependence on foreign resources of supply because of fear of political conflict or war.

Foreign AID

Foreign Aid is another economic tool used for strategic and diplomatic ends. The Marshal plan, under which U.S gave 17 Billion dollars grants to western European countries to rebuild their economic after a second world war. Foreign economic assistance to less developed countries has been used to win friends for the west or the east during the cold war. Foreign Aid has also been used by the former colonial powers to retain political influence in those newly independent former colonies.

Reddit
Share
Email
Tweet
Prev Article
Next Article

Related Articles

management lead, guides and directs.jpg

Management Leads, Guides and Directs

Entrepreneur in Action, Functions of Entrepreneur and Definition

Entrepreneur in Action, Functions of Entrepreneur and Definition

Study Lecture Notes

All in One Solution for your Studies
Copyright © 2025 Study Lecture Notes