Question

discuss one concept of economics that impacted the way we view politics?

Answer 1

It can be mentioned that the one concept of Economics that has changed the way we view politics is the international trade theories especially the theory of comparative advantage and this is because when you consider the case of oil, it can be mentioned that countries like Saudi Arabia have been producing loads of oil over the past decades and as far as geopolitics is concerned, you can understand why the United States has been heavily reliant onSaudi Arabia and that is the reason why it always backs Saudi Arabia in international issues where both countries are friends to each other. Apart from that you can also understand the reason why United States and China are competing in a political perspective to develop friendship with countries like equatorial Guinea so that they can invest heavily in the Reserves of oil in the country and take advantage of it