Political Economy

Political Economy

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What Is Political Economy?

According to Britannica Money: "political economy, branch of social science that studies the relationships between individuals and society and between markets and the state, using a diverse set of tools and methods drawn largely from economics, political science, and sociology. The term political economy is derived from the Greek polis, meaning “city” or “state,” and oikonomos, meaning “one who manages a household or estate.” Political economy thus can be understood as the study of how a country—the public’s household—is managed or governed, taking into account both political and economic factors." [source]

According to Merriam-Webster: it's "the theory or study of the role of public policy in influencing the economic and social welfare of a political unit. [source]