Economic power in the context of "Inalienable possessions"

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⭐ Core Definition: Economic power

Economic power refers to the ability of countries, businesses or individuals to make decisions on their own that benefit them. Scholars of international relations also refer to the economic power of a country as a factor influencing its power in international relations.

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Economic power in the context of National security

National security, or national defence (national defense in American English), is the security and defence of a sovereign state, including its citizens, economy, and institutions, which is regarded as a duty of government. Originally conceived as protection against military attack, national security is widely understood to include also non-military dimensions, such as the security from terrorism, minimization of crime, economic security, energy security, environmental security, food security, and cyber-security. Similarly, national security risks include, in addition to the actions of other states, action by violent non-state actors, by narcotic cartels, organized crime, by multinational corporations, and also the effects of natural disasters.

Governments rely on a range of measures, including political, economic, and military power, as well as diplomacy, to safeguard the security of a state. They may also act to build the conditions of security regionally and internationally by reducing transnational causes of insecurity, such as climate change, economic inequality, political exclusion, and nuclear proliferation.

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Economic power in the context of Direct action

Direct action is a form of activism in which participants use agency—for example economic power or political power—to achieve their goals. The aim of direct action is to either obstruct a certain practice such as a government's laws or actions or to solve perceived problems.

Direct action may include activities, that can be either violent or nonviolent, targeting people, groups, institutions, actions, or property that its participants deem objectionable. Violent direct action may include political violence, assault, arson, sabotage, and property destruction. Nonviolent direct action may include civil disobedience, sit-ins, strikes, and counter-economics.

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Economic power in the context of Big Oil

Big Oil is a name sometimes used to describe the world's five, six or seven largest publicly traded and investor-owned oil and gas companies, also known as supermajors.

The term, particularly in the United States, emphasizes their economic power and influence on politics. Big Oil is often associated with the fossil fuels lobby and also used to refer to the industry as a whole in a pejorative or derogatory manner.

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Economic power in the context of Economic activism

Economic activism involves using economic power for change. Both conservative and liberal groups use economic activism to boycott or outbid companies and organizations that do not agree with their particular political, religious, or social values. Conversely, it also means purchasing from those companies and organizations that do.

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Economic power in the context of Exploitation of labour

Exploitation is a concept defined as, in its broadest sense, one agent taking unfair advantage of another agent. When applying this to labour (or labor), it denotes an unjust social relationship based on an asymmetry of power or unequal exchange of value between workers and their employers. When speaking about exploitation, there is a direct affiliation with consumption in social theory and traditionally this would label exploitation as unfairly taking advantage of another person because of their vulnerable position, giving the exploiter the power.

Karl Marx's theory of exploitation has been described in the Stanford Encyclopedia of Philosophy as the most influential theory of exploitation. Marx described exploitation as the theft of economic power in all class-based societies, including capitalism, through the working class (or the proletariat, as Marx called them) being forced to sell their labour. The two main perspectives when analysing the exploitation of labour are that of Marx and that of Adam Smith, a classical economist. Smith did not see exploitation as an inherent systematic phenomenon in certain economic systems as Marx did, but rather something that stems from a random occurrence in the chaos of the market, such as a monopoly, that will even out by the tendency of the free market towards equilibrium.

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Economic power in the context of BRIC (economics term)

BRIC (Brazil, Russia, India and China) is the foreign investment strategies grouping of Brazil, Russia, India, and China. The term has been rendered as "the BRICs", "the BRIC countries", "the BRIC economies", and the "Big Four". It is a leading example of "acronym investing" where investments are targeted to a group of otherwise disparate markets which share a common feature. The term has been expanded by observers to include other countries such as South Africa (BRICS), Mexico (BRIMC), and South Korea (BRICK), among others.

The term was first coined by British economist Jim O'Neill and later championed by his employer Goldman Sachs in 2001. O'Neill identified the four countries as emerging markets and rising economic powers which were at a similar stage of newly advanced economic development. Goldman Sachs, of which O'Neill was the head of global economics research, would continue reporting and investing in their BRIC fund until 2015. In a 2023 retrospective article, O'Neill commented that after the term's initial proposal, it gained an outsized popularilty in the 2000s and 2010s to explain the economic conditions of the four countries. He also conceded that the reports published by Goldman Sachs, which presented an optimistic possibility of the BRIC economies in the year 2050, were most likely not going to come true as economic downturns in the 2010s and early 2020s severely altered the trajectory of each country's economies.

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Economic power in the context of The Twenty Years' Crisis

The Twenty Years' Crisis: 1919–1939: An Introduction to the Study of International Relations is a book on international relations written by E. H. Carr. The book was written in the 1930s shortly before the outbreak of World War II in Europe and the first edition was published in September 1939, shortly after the war's outbreak; a second edition was published in 1946. In the revised edition, Carr did not "re-write every passage which had been in someway modified by the subsequent course of events", but rather decided "to modify a few sentences" and undertake other small efforts to improve the clarity of the work.

In the book, Carr advances a realist theory of international politics, as well as a critique of what he refers to as the utopian vision of liberal idealists (which he associates with Woodrow Wilson). Carr's realism has often been characterized as classical realism. Carr argues that international politics is defined by power politics. He describes three types of power: military power, economic power, and power over opinion. He argues that political action is based on a coordination of morality and power.

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Economic power in the context of Arab Indonesians

Arab Indonesians (Indonesian: Orang Arab Indonesia; Arabic: عربٌ إندونيسيون), or colloquially known as Jama'ah, are Indonesians of mixed Arab, mainly Hadharem from Yemen, and Indonesian descent. The ethnic group generally also includes those of Arab descent from other Middle Eastern Arabic speaking nations. Restricted under Dutch East Indies law until 1919, the community elites later gained economic power through real estate investment and trading. Currently found mainly in Java, especially West Java and East Java, they are almost all Muslims.

The official number of Arab and part-Arab descent in Indonesia was recorded since 19th century. The census of 1870 recorded a total of 12,412 Arab Indonesians (7,495 living in Java and Madura and the rest in other islands). By 1900, the total number of Arabs citizens increased to 27,399, then 44,902 by 1920, and 71,335 by 1930.

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