Economic power

Economic power is a vital strategic asset that can be primarily defined as the ability to control the behaviours of other people through intentional and politically inspired control of economic wealth. Most economic powers are vested in governments. Economists and bankers have argued that policies set by the populist parties and authorities only benefit the interest of the ruling class rather than ordinary citizens. Political power structures are usually manipulated by politicians who adopt popular ways to ensure that they stay in power hence compromising people’s powered economy.  Peoples driven economic power cannot be achieved if the political class will deter globalization. For instance, today, trade unions membership has declined in most of the countries since the ruling class has suppressed their voters to the extent of not forming union powers. However, due to low margin economic activities, disregard to labour rights by the political ruling class, which is proof that trade unions and workers cooperatives face a verge of extinction.