Political Economy

Political economy refers to that body of economic thought whose rise between the 17th and mid-19th centuries coincided with the rise of capitalism and the modern nation-state and the rise of modern science; political economy was composed of “economy in general” and “the art of government.” Economy in general was understood as the art of household management; political economy was understood as the same art applied to the polis, or political entity. Before the 17th century, economics was ...

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