By Burnett Munthali
Political protests have impacts on economic policies. We find that political protests significantly increase costs for firms.
Using flexible cost function based on factor analysis we see that the factor-neutral effect of strikes is positive and statistically significant, showing evidence of a reduction in firm productivity due to hartals.
Political unrest affects the economy. Economic growth and political stability are deeply interconnected.
On the one hand, the uncertainty associated with an unstable political environment may reduce investment and the speed of economic development.
On the other hand, poor economic performance may lead to government collapse and political unrest.
The economic and political effects of riots can be as complex as their origins. Property destruction and harm to individuals are often immediately measurable.
During the 1992 Los Angeles riots, 2,383 people were injured, more than 12,000 were arrested, 63 people were killed and over 700 businesses burned.
The July 2021 political riots had many negative impacts on the South African economy. The July unrest, which cost the lives of more than 340 people, interrupted a four quarter economic growth streak, with GDP contracting 1.5% in the third quarter, Statistics South Africa announced recently. The violence and looting stands on record as the most expensive riot, costing some R50-billion in output.
Has there ever been a successful peaceful protest? Perhaps one of the most famous examples of peaceful activism in U.S. history, the March on Washington for Jobs and Freedom took place on August 26, 1963.
A 2021 study of 30,000 protests over 18 months found that armed protests increased in 2021, and they were said to be six times more prone to a violent outcome than non-armed ones. This is problematic because studies show that peaceful protests are more effective at achieving protesters’ goals.
Nonviolent protests have many advantages. These pros include accessibility.
Nonviolent protests can be attended by more people than other kinds of protests. More people are likely to feel safe and comfortable attending the protest, and individual protesters are less likely to require any specific kind of training or information.
Perhaps one of the most famous examples of peaceful activism in U.S. history, the March on Washington for Jobs and Freedom took place on August 26, 1963. Peaceful protests made a difference history.
The following are some examples of the biggest protests in history.
Indian farmers protest (2020-2021). George Floyd and Black Lives Matter (2020). Women’s March (2017). Anti-Iraq War protests (2003). Tiananmen Square (1989). The Baltic Way (1989). People’s Protest (1986). Earth Day (1970).
Disclaimer: The views expressed in the article are those of the author not necessarily of The Maravi Post or Editor
