POLITICAL ECONOMY Meaning and
Definition
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Political economy is a multidisciplinary field of study that examines the interaction between politics and economics. It analyzes how political systems and economic activities influence and shape each other, and is concerned with understanding the distribution and the production of goods, services, and resources within societies.
In its broadest sense, political economy encompasses the study of the relationships between power, wealth, and the allocation of resources. It seeks to understand how political structures, institutions, and policies impact economic outcomes, and how economic factors, such as production, consumption, and distribution, shape political processes and outcomes. This field of study explores the intricate connections between the state and the economy, and investigates the influence of market forces and government intervention on economic growth, development, and social welfare.
Political economy delves into various facets including the study of economic systems, such as capitalism, socialism, or mixed economy, and how these systems interact with political institutions. It examines the role of different actors in the economy, including individuals, firms, and governments, and their impact on policies, regulations, and decision-making processes. Additionally, political economy analyzes the distribution of resources, income, and wealth, and investigates issues of inequality, poverty, and social justice.
Overall, political economy provides a comprehensive framework for studying the intricate dynamics between politics and economics, illuminating the interplay of power, institutions, and economic processes in shaping societies.
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The science which treats of all those matters which are most favourable to the prosperity and permanent good of a country and its people.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for POLITICAL ECONOMY
- oolitical economy
- lolitical economy
- -olitical economy
- 0olitical economy
- pilitical economy
- pklitical economy
- pllitical economy
- pplitical economy
- p0litical economy
- p9litical economy
- pokitical economy
- popitical economy
- pooitical economy
- polutical economy
- poljtical economy
- polktical economy
- polotical economy
- pol9tical economy
- pol8tical economy
Etymology of POLITICAL ECONOMY
The word "political economy" comes from the combination of two terms: "politics" and "economy".
The term "politics" originates from the Greek word "polis", meaning "city" or "city-state". It referred to the activities, governance, and organization of a city or state, including the distribution of power, decision-making processes, and public affairs.
The term "economy" comes from the Greek word "oikonomia", derived from "oikos" (house) and "nomos" (law or management). In ancient Greece, it referred to the management of a household or estate.
The combination of these two terms, "political economy", emerged in the 17th century. Originally, it denoted the study of the rules and policies governing the wealth and resources of a nation or state, focusing on how political factors influenced economic systems and outcomes.
Similar spelling words for POLITICAL ECONOMY
- political commissar,
- political unit,
- political system,
- political prisoner,
- political liberty,
- political boss,
- political dissident,
- political machine,
- political movement,
- political scientist,
- political arena,
- politically correct,
- political science,
- political detainee,
- political sympathies,
- political sphere,
- political leader,
- political relation,
- political campaign,
- political program,
- political donation,
- political theory,
- political party,
- political hack,
- political platform.
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