Economic Effects On Soveriegnt Essay

1034 words - 4 pages

Economic Effects on Sovereignty Some commentators claim that in the modern world, medium-sized economies do not have economic sovereignty any more. Thus it is necessary to form large economic and trading blocks such as the EU in order to recover some economic sovereignty. There is some truth in the idea that modern medium-sized governments have less control than they did in the past. "From about 1930 to about 1970 governments had a historically unusual degree of control over their economies"(Walker 3). They could fix market exchange rates, limit imports through tariffs and quotas, control capital flows, and boost domestic production. In the 1990s capitalist governments have much less control. A government that attempted to control capital flows would receive much less international investment than more open competitor nations. Central banks cannot maintain market exchange rates against the will of private investors.Another way in which analysts confuse the aspects of sovereignty is through the conflation of territoriality and economics. The problem lies with characterizations of trans-border economic flows.Questions related to trans-border control, as opposed to purely domestic issues, have also exercised states. The claims states have made with regard to authoritative control of movements of people, commodities, investments, and information, ideas, or culture across their international boundaries have changed across time and over countries. (Krasner 86) The question of trans-border flows of information, ideas, and culture will be dealt with below. At issue here is how economic sovereignty and territorial sovereignty interact. Put differently, how do trans-border economic flows affect territoriality? As is the case with political sovereignty, economic sovereignty has no direct effect on territorial sovereignty. To be sure, goods and capital move across borders, but these economic trans-border flows do not necessarily challenge how states recognize each other's borders or how states defend their borders. Indeed, it would seem that the ways in which international economic interactions have been organized and regulated, both on the state and international levels, has largely divorced economic sovereignty from the realm of territoriality.One must not take this point too far however, as there are many important indirect interactions between economic and territorial sovereignty. For example, international economic flows can be an important source of revenue for the state. For example, tariff collection from imports, foreign exchange from exports, and an increasing domestic tax base from production for foreign markets, to name a few. Some of these revenues can then be geared toward military expenditures to bolster defense. Conversely, uncontrolled military and high technology exports can be a threat to national security. A state that does not regulate its military exports could easily find itself confronted with an enemy fighting with its own equipment....

Find Another Essay On Economic effects on soveriegnt

What Eere the Effects of the Central Bankers on the Recent Economic Crisis?

1546 words - 7 pages were available to almost everyone without questioning their creditability. This was a huge mistake because many could not repay this debt and started defaulting on their loans. By 2007, more than 25 subprime lenders filed for bankruptcy. In The Alchemists: Inside the Secret World of Central Bankers, Neil Irwin reasserts that the housing bubble is a main cause in the eventual economic downturn. And because the United States’ economy has the most

Social and Economic Effects of the Plague on Medieval Islam Societies

1379 words - 6 pages particularly devastating effects on the military. The expedient spread of the epidemic through militaries affected the outcome of a number of minor conflicts throughout the Islamic world. The epidemic even devastated the resilient Mamluk army of Egypt so sufficiently that the weakening of its military capabilities was a substantial factor in its defeat and eventual downfall to the Ottoman Empire. The massive depopulation of both urban and rural areas as

Senior Project on Hurricane Katrina The Economic Effects Of Hurricane Katrina and How It Could Have Been Prevented

2444 words - 10 pages The economic effects of hurricane Katrina have cost the government lots of money. It was one of the costliest disasters in U.S. history. Hurricane Katrina was one of the sixth strongest hurricanes ever recorded. Katrina formed in late August during the 2005 Atlantic hurricane season and caused devastation along the north-central Gulf Coast of the United States. The storms sudden increase caused severe and life-threatening damage along the Gulf

Dallas's Ban on Smoking: brief discussion about the recent ban on smoking in Dallas area restaurants and businesses in early 2003. Discussion of health and economic effects.

726 words - 3 pages Dallas's Ban on SmokingRecently, Dallas city council voted to ban smoking in area restaurants and businesses. For months, the citizens of Dallas bickered back and forth about the effects of smoking regulations on area economics. These consequences, however, did not stand a chance against the main issue of public health. Health issues of the city's large population are a growing concern for Dallas's mayor and city council. The city government has

Economic effects on the Home Building Industry

1862 words - 7 pages markets may cause energy prices to increase and unemployment rates to increase. Monetary policies were put into effect to moderate economic growth and to stabilize energy price pressures (Rayne, 2008). Monetary policies are attempting to reduce inflation rates and have a direct and indirect effect on the economy. Considering current demand for home construction is low and home values have lowered while housing prices have increased. Policy makers

About the economic effects that september 11th, had on the US economy, and whether or not sanctions would be a good idea for the US to use against Afghanistan

1415 words - 6 pages Afghanistan. But did any of America's citizens ever stop to think what September 11 and the war on terror would do to their economy? Do the negative aspects of the US imposing sanctions on terrorist harboring countries overcome the positive aspects?Before a discussion on the effects of sanctions on America's economy can be entertained, we must first fully understand what a sanction is, and the history of themA Sanction is defined as a deliberate

Economic Factors' Effects on the Pilgrimage of Grace

1921 words - 8 pages , historians have and will continue to argue endlessly about the true causes of the Pilgrimage; on balance, a collection of factors contributed rather than an overriding cause. As a result, it is fair to say that the rising incorporated a mixture of political, religious, social and economic issues. Therefore, economic factors were only partly to blame for the Pilgrimage of Grace. Firstly, politics was partly to blame for the Pilgrimage of

Drug Legalization - Social and Economic Issues The social and economic effects drug legalization would have on Society.

2312 words - 9 pages DRUG LEGALIZATION - SOCIAL & ECONOMIC ISSUESThe debate over whether it is in society's best interest to legalize certain controlled substances has been the subject of much debate over the years. While groups on both sides of the debate seem to have absolute answers to the issue, there are both positive as well as negative factors that must be addressed. The ultimate answer to this question will be decided on the basis of which position

Absolutism in France versus Constitutional Monarchy in England. The political, economic, religous and social effects on England and France.

2223 words - 9 pages experience such growth. In contrast, it experienced great decline because the country did not evolve and continued with absolutism even a century after England had proven that type of governing was not effective.There are several aspects of each country that are interesting to compare. The foremost of these aspects being the political, economic, religious and social situations. Despite numerous similarities in some of these categories, the extreme

“Exploration on Effects of Racial Disparities Upon African American Identity and Economic/Social Standing In Mid-19th Century America

1088 words - 4 pages realities of social and economic discrimination through the exploitation of African American labor in the factory. Perhaps Ellison speaks an unspoken truth surrounding the dynamic of American society and its promise of freedom, liberty, and equality. Works Cited 1. Ellison, Ralph. Invisible Man. New York: Random House, 1952. P. 200 2. Ellison, Ralph. Invisible Man. New York: Random House, 1952. P. 214 3. SparkNotes Editors. “SparkNote on

exponential population growth as a potential downfall of the economy

571 words - 3 pages The aim of this research paper is to analyse the impact of population growth on long run economic growth. Several intersecting factors can help account for the effects of population growth on economy. Our world’s population has increased dramatically over past centuries due to fertility dynamics and immigration. Many economic models fail to explain this relationship as there are too many variable that must be taken into account, and without

Similar Essays

Effects Of Corruption On Economic Growth

517 words - 2 pages Effects of Corruption on Economic GrowthCorruption has been around for a very long time and will be around in the future unless governments can figure out effective ways to combat it. This is not going to be easy. Corruption in any form is treated as an incurable disease cause of many social and economic evils in the society and it damages the moral and ethical fibers of the civilization .Indisputably, it is correct that corruption breeds many

The Effects Of Economic Trends On Society

1443 words - 6 pages used responsibly to provide for ones needs instead of wants. In recent years the respect of money has fallen and financial responsibility has been ignored. People have begun to lose sight of what they need and instead focus on satisfying their unnecessary desires. Money has become easier to obtain as economic conditions have improved. Now people act as if they can attain happiness through possessions. Individuals obsessively strive to accumulate

Effects Of The 2005 Budget On Economic Activity, Price Stability, Economic Growth, Full Employment And Inflation.

943 words - 4 pages everyone because the lives of our citizen's matter, the decisions the Government may affect their mortgages, their businesses, and whether they can find a job.He said the Budget was brought down at a time when more Australians are in work than ever before. Our unemployment rate has fallen to a low unmatched for 28 years.The budget will have a number of effects on a number of different areas of the economy including the economic outlook, tax cuts

The Economic Effects Of The Slave Trade On Africa, Britain, And America

1487 words - 6 pages also produced over half of all the United States export earnings. Slavery almost single handedly was the main reason for economic growth. While the south was focused on cotton the north was focused on other sorts of industries. Slavery’s economic benefits persisted until the day it ended and was one of the main reasons America was able to grow and develop into the nation it is today. Unlike Britain and America the African nations who