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Economics 3 Pages

Short Answer Questions


Short Answer Questions

1. What are the two significant roles attributed to unions as actors in political economy? How do these roles help us understand the different relationships between unions and employers in Liberal Market Economies and Coordinated Market Economies?

2. According to Gosta Esping-Andersen, Social Democratic and Conservative Welfare states are characterized by a logic of ‘de-commodification’, while the Liberal Welfare state is not. Explain what de-commodification is with reference to relevant examples. Why is it important for an understanding of political economy?

3. While both Conservative and Social Democratic welfare states are ‘de-commodifying’, they differ in the mechanisms of welfare provision as well as in the ideological principles underpinning that welfare provision. With reference to relevant examples, explain the key differences between Conservative and Social Democratic Welfare States.

4. Explain the key differences between stakeholder and shareholder forms of corporate governance. How do these differences affect the economic behavior of corporations? How do they affect the performance of the wider economy?


Title: Short Answer Questions
Length: 3 pages (900 Words)
Style: APA


The Capitalisms 

Compared Question 1

Unions being actors in the political economy, they are viewed as core determinants in domestic economies and national policies of the affairs of an economy. They act in assisting by increasing independence economy and globalization between national economies. They also preserve international competition by narrowing the existing gap between lowly paid and highly paid employees thus filling a gender gap (Bowman, 2014). The unions' strength is to ensure that all wages increase alongside economic growth. It also helps in an institution of benefits like parental leave, pensions and health insurance to all part-time and full-time employees.


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