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Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. It developed in the 18th century as the study of the economies of states (also known as polities, hence the word "political" in "political economy"). In contradistinction to the theory of the Physiocrats, in which land was seen as the source of all wealth, some political economists proposed the labour theory of value (first introduced by John Locke, developed by Adam Smith and later Karl Marx), according to which labour is the real source of value. Many political economists also attracted attention to the accelerating development of technology, whose role in economic and social relationships grew ever more important.
In the late 19th century, the term "political economy" was generally superseded by the term economics, which was used by those seeking to place the study of economy on a mathematical and axiomatic basis, rather than studying the structural relationships within production and consumption. (See marginalism, Alfred Marshall)
In the present, political economy refers to a variety of different, but related, approaches to studying economic and political behavior, which range from combining economics with other fields, to using different fundamental assumptions which challenge those of orthodox economics:
More on [ Political economy ]
Political Science :: Social Sciences
@kjlintner JEI - Association of Evolutionary Economics = call for papers = The Necessity for the Guidance of Political Economy
tracycoyle (tracycoyle) Thu, 07 Jan 2010 00:46:27 -0000
@kjlintner JEI - Association of Evolutionary Economics = call for papers = The Necessity for the Guidance of Political Economy
New York University Stern School of Business (NYU Stern)- London School of Economics and Political Science (LSE) -
UKEDA (UKEDA) Wed, 06 Jan 2010 15:55:38 -0000
New York University Stern School of Business (NYU Stern)- London School of Economics and Political Science (LSE) -
RT @AustrianEcon News Update: Value-Free Economics and Political Advocacy http://bit.ly/8XZ2dv #economy #usa #dollar #mises #tlot #tcot #1
LiberateLiberty (btchurch) Wed, 06 Jan 2010 12:46:56 -0000
RT @AustrianEcon News Update: Value-Free Economics and Political Advocacy http://bit.ly/8XZ2dv #economy #usa #dollar #mises #tlot #tcot #1
@fheusser suerte! A tener presente dos lineas mas alla de neo-clasico o neo-institucional. Political embeddedness & behavioural economics!
sgaticam (Sebastian Gatica) Wed, 06 Jan 2010 11:49:04 -0000
@fheusser suerte! A tener presente dos lineas mas alla de neo-clasico o neo-institucional. Political embeddedness & behavioural economics!
@toadman628 & finally, where do u get off blaming a shift 2 Socialism (a political dominance of economics) on Capitalists? Only politicians
Vanburenjrmr (Martin Van Buren) Wed, 06 Jan 2010 03:42:04 -0000
@toadman628 & finally, where do u get off blaming a shift 2 Socialism (a political dominance of economics) on Capitalists? Only politicians
Political economics is election economics... #Newsnight.
charonQC (Charonqc) Tue, 05 Jan 2010 22:55:13 -0000
Political economics is election economics... #Newsnight.
A Glossary of Political Economy Terms - Hypertext dictionary of extensive definitions of around 200 political economic terms, by Dr. Paul M. Johnson of Auburn University.
Caspian Sea Region - An analysis of what happens when oil, religion, ethnicity, and politics are all intermingled together in the same region.
Meta Description: [ The Caspian Sea region is maybe one of the most striking example of geopolitical turmoil in the world. It's where history and geography fiercely collide! ]
Confessions of a Geoist - Describes the evolution of neoclassical economic thinking into geoist, geoclassical thought. Describes the potential contribution of new public economic decision techniques (demand revealing processes) to this body of thought.
Debunking Economics - Book web site provides more detail on some issues, as well as the maths behind some of the critiques.
Economics From Washington - Helps institutional money managers improve their performance by understanding how decisions made by economics policymakers impact markets.
Facetation: Political Economy, Media, and Classification - A collection of papers and blog ramblings about the nexus of political economy, media, and classification. Some other topics include boundary objects, Hayek, Shannon, information theory, libraries, and kipple.
Meta Description: [ A collection of papers and blog ramblings about the nexus of political economy, media, and classification. Some other topics include boundary objects, Hayek, Shannon, information theory, libraries, and kipple. ]
IPED program, Fordham University - Offers an MA with specializations in International Development, Comparative International Politics, International Business Finance, and International Development Economics. Offers certificates in Emerging Markets Analysis, and in International Business Finance.
McKeever Institute of Economic Policy Analysis - Analysis of sovereign national economic policies based on 33 policies deemed critical to environmentally sound economic growth.
Meta Description: [ Students from many countries studying in California write about their home nation's jobs, social justice, growth and freedom. ]
NAFTA: Are We Better Off For It? - This document looks at trade theory to better understand the results of NAFTA
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Political Economy of Rural Underdevelopment - Novartis Foundation for Sustainable Development (NFSD) article: issues problems to consider when starting an NGO in rural areas of the developing world...
When will the Bubble Burst? - Article in Socialism Today analysing the state of the world economy. The recent growth spurt has been propelled by a highly unstable cycle of consumer spending and business investment-fuelled by a crazy stock exchange bubble. Sharpening trends within the US economy and the still spreading world slump mean that the days of the US boom are numbered
Meta Description: [ Socialism Today is the monthly journal of the Socialist Party. ]
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