Political Economy

Definition: Political Economy

Political Economy

Noun

1. The branch of social science that deals with the production and distribution and consumption of goods and services and their management.

Domain	Definition
Literature	Political Economy This term was invented by Francois Quesnay, the French physician. (1694-1774.). Source: Brewer's Dictionary.
Source: compiled by the editor from various references; see credits.

The term political economy originally meant the study of the conditions that determined the relative wealth or poverty of polities (e.g. nation-states). The term was first widely used in the 18th Century by philosophers such as the physiocrats and Adam Smith.

In the 19th century liberal theorists argued that the state should not regulate the market; that politics and markets operated according to different principles; and that political economy should be replaced by two separate disciplines, Political science and Economics. Around 1870 neoclassical economists such as Alfred Marshall began using the term economics instead of "political economy."

Notable thinkers have opposed this liberal tradition: Karl Marx (who rejected the conceptual distinction between politics and economics) and John Maynard Keynes (who rejected the institutional separation of politics and economics); their followers often favor "political economy" as a way of bringing politics and economics back together. Use of the term underwent something of a revival during the 1960s when it was used increasingly by the libertarian economists of the Chicago School.

Today, the term political economy is used in various ways. It is most commonly used to refer to interdisciplinary studies that draw on economics, law, and political science in order to understand how political institutions and the political environment influence market behavior. Within political science, the term refers to liberal, realist, and Marxian theories concerning the relationship between economic and political power among states. This is also of concern to students of economic history and institutional economics; nevertheless, within economics the term is more closely associated with Game theory. "International political economy" is a branch of economics that is concerned with international trade and finance, and state policies that affect international trade such as monetary and fiscal policy. Others, especially anthropologists, sociologists, and geographers, use "political economy" to refer to neo-Marxian approaches to development and underdevelopment set forth by Andre Gundar Frank and Immanuel Wallerstein.

Synonyms: Political Economy

Synonyms: economic science (n), economics (n). (additional references)

Context	Synonyms within Context (source: adapted from Roget's Thesaurus).
Conduct	Management; husbandry; housekeeping, housewifery; stewardship; menage; regime; economy, economics; political economy; government; (direction).
Source: adapted from Roget's Thesaurus.

Crosswords: Political Economy

English words defined with "political economy": Catallactics, Chrematistics, Chrysology ♦ Physiocrat, Political arithmetic. (references)

Specialty definitions using "political economy": consumption goods ♦ first order goods. (references)

Domain	Title
Books	The political economy of crisis and underdevelopment in Africa: selected works of Claude Ake (reference) The Invention of Capitalism: Classical Political Economy and the Secret History of Primitive Accumulation (reference) The Aegean Sea After the Cold War: Security and Law of the Sea Issues (International Political Economy Series) (reference) Agrarian Reform and Public Enterprise in Mexico: The Political Economy of Yucatan's Henequen Industry (reference) The Politics of Basic Needs: Urban Aspects of Assaulting Poverty in Africa (Political Economy of World Poverty) (reference) (more book examples)

Periodicals	Constitutional Political Economy (reference) European Journal Of Political Economy (reference) International Papers In Political Economy (reference) Nordic Journal Of Political Economy (reference) Taiwan Journal Of Political Economy = Cheng Chih Ching Chi P (reference) (more periodical examples)
Source: compiled by the editor from various references; see credits.

Thumbnail	Description & Credit	Thumbnail	Description & Credit
	Studying political economy. Credit: Library of Congress.		Good political economy. Credit: Library of Congress.
Source: pictures compiled by the editor from various references; see picture credits.

Title	Author	Quote
Les Miserables	Hugo, Victor	Political economy sees in it a detritus, social philosophy sees in it a residuum.
Source: compiled by the editor from various references.

Subject	Topic	Quote
Political Economy	Japan	U.S. businesspeople working in Japan will find that many elements in Japan's political economy are similar to our own. (references)
Source: compiled by the editor from ICON Group International, Inc.; see credits.

Speaker	Term	Phrase(s)
John Quincy Adams	1825-1829	But among the maxims of political economy which the stewards of the public moneys should never suffer without urgent necessity to be transcended is that of keeping the expenditures of the year within the limits of its receipts.
Source: compiled by the editor from various references.

The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com.

Language		Translations for "political economy"; alternative meanings/domain in parentheses.
Albanian		ekonomi politike (economics). (various references)

Bulgarian		политическа икономия (economics). (various references)

Czech		národní hospodářství (national economy). (various references)

French		économie politique. (various references)

German		Volkswirtschaft (economics, economy, national economy, political economics). (various references)

Hungarian		politikai gazdaságtan, közgazdaságtan (economics, social economy). (various references)

Manx		farrys cheerey (agronomic, agronomiccal, agronomy). (various references)

Pig Latin		oliticalpay economyay

Romanian		economie politicã (plutonomy). (various references)

Russian		политэкономия. (various references)

Serbo-Croatian		politička ekonomija. (various references)

Spanish		economía política (economics). (various references)

Swedish		nationalekonomi (economics). (various references)

Turkish		iktisat bilimi (economics), iktisadi politika. (various references)
Source: compiled by the editor from various translation references.

Scrabble® Enable2K-Verified Anagrams
	Words within the letters "a-c-c-e-i-i-l-l-m-n-o-o-o-p-t-y"
	-4 letters: compellation, complacently, complication, economically.
	-5 letters: amylopectin, collimation, collocation, compilation, compliantly, ectopically, emotionally, meiotically, occipitally, toponymical.
Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro.

Expression	Frequency per Day
political economy	26
international political economy	7
Source: compiled by the editor from various references; see credits.

Political Economy

Definition: Political Economy