Definition of political economy Political economy
po•lit•i•cal e•con•o•my
We found 3 definitions of political economy from 3 different sources.
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What does political economy mean?
WordNet
Noun |
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| political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management | ||
| economics, economic science | ||
| social science the branch of science that studies society and the relationships of individual within a society | ||
| economic theory (economics) a theory of commercial activities (such as the production and consumption of goods) | ||
| econometrics the application of mathematics and statistics to the study of economic and financial data | ||
| finance the commercial activity of providing funds and capital | ||
| macroeconomics the branch of economics that studies the overall working of a national economy | ||
| microeconomics the branch of economics that studies the economy of consumers or households or individual firms | ||
| supply-side economics the school of economic theory that stresses the costs of production as a means of stimulating the economy; advocates policies that raise capital and labor output by increasing the incentive to produce | ||
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Wiktionary 
Wikipedia 
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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. 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 looked at the accelerating development of technology, whose role in economic and social relationships grew ever more important.
In late 19th century, the term "political economy" was generally replaced by the term economics, which was used by those seeking to place the study of economy on a mathematical basis, rather than studying the relationships within production and consumption.
Disciplines which relate to political economy.
Because political economy is not a unified discipline, there are a variety of studies that use the term which have overlapping subject matter, but radically different viewpoints.
Sociology is the study of the effects of involvement in society on individuals as members groups, and how this changes their ability to function. Many sociologists begin from a framework of production determining relationship drawn from Karl Marx.
Anthropology often studies political economy by studying the relationship between the world capitalist system and local cultures.
Psychology is frequently the fulcrum around which
