Political Control and How it Affects Economic Growth

Politics significantly impacts the structures and

operations of the economic arena. The country's politics may
influence various economic factors, including inflation,
unemployment, income redistribution, and the degree of
centralized financial management. In this respect, political
control mainly pertains to how the head of state handles foreign
alliances, imports, exports, as well as other components that
may contribute to economic growth.

For instance, as much as we regard capitalism as

advantageous in enhancing people's standard of living as
globalization takes hold; it will be the leading cause of a
country's rising debt and revenue constraints once there's
subpar leadership. Sri Lankan people have endured regular power
outages and shortages of necessities, including food, gasoline,
and medicine. We may imagine that inadequate management or poor
political control results in failure to pay interest on debts,
undermining the country's reputation among investors and making
borrowing financing on global networks more challenging. On the
other hand, Singapore is a small nation with one of the most
dynamic economies in the world. Singapore's limited domestic
market and dearth of natural resources were never considered
obstacles to the country's ability to weather the ensuing
economic collapse effectively.

Political control also emphasizes how the country's

politics deliberate how to deal with citizens' various behavior
or individuality. The benefits of an economic boom include
robust growth and more commercial prospects. This might create a
powerful and increasing venture capital company, putting the
government under pressure to streamline bureaucracy. In
conclusion, solid political control promotes social evolution,
which in fact, supports economic growth.