Everyday Object’ paper (20%) – No later thanNov. 27 at 11:59pm, you will submit a short essay analyzing the politicaleconomy of an everyday object of your choosing. A main reference for thisproject...

Object: Clothing/Fashion
Political economy is a branch of social sciences that aims at the relationships between individuals, governments and public policies. It is also used to describe the policies set by governments affecting their nations’ economies. There are three types of political economy, namely, capitalism, socialism and communism. Resources are owned by the government in communism, By society in socialism, while by private individuals in capitalism.
Economics and politics go hand in hand. economics affect politicians, while politics affects economy and economics. Capitalism is considered to be the economy as a whole, whereas it is just a kind of economy amonas others. Some crucial facts about capitalism are as follows:
· Maximum people work for others for a wage or salary
· A tiny portion of the society owns most of the world’s wealth, and uses that wealth to create more wealth
· Companies compete against each other to maximize profits
Traditional economists mostly ignore these principal facts. Instead of “capitalism” the term “market economy” is used for the system. The fact that only a few people own immense wealth while most people own nothing, is considered coincidental and irrelevant. While capitalism majorly influences the world economy, it is curiously enough not commonly used. Alternatively, economists refer to it as “the economy” as if there is only one kind of it.
A capitalist economy is made out of two key features, which are as follows:
· Privately owned companies produce most of the goods and services and sell their productions in expectations of profit creation, which is called Production for Profit
· Most work is accomplished by hired people who do not own the company or their creation, and work for a money wage or salary, which is called Wage Labor
Further, let's talk about the clothing industry and the political economy of the same. In the Global South, during the latter half of the 20th century, mass entry of women into export-oriented factory employment was witnessed. Young women relocated to export processing zones in Sri Lanka to work in April production for a living. They were referred to as “Juki girls” in connotation of the Juki brand of sewing machine. This name also carried with itself nuances of iniquity. These women used to relocate from their rural homes to urban settings due to poverty, and get involved in modern ways of wage labour to earn a living, appearing to challenge the respectable gendered behaviors expected of them. Most propounders of this transformation called this change women empowerment. These women were looked at not just as someone who were financially independent but also as escapists challenging the boundaries of tradition and conventional domestic...