The term, political economy, grew out of the earlier turn, economy, which meant
the management of an estate. In the 17th century, Montechretian wrote the first
book using the term political economy. He meant managing not just a single
estate, but the whole state. It was not so much that it was political, as Paul
suggests the modern usage implies.
[EMAIL PROTECTED] wrote:
> Michael wrote:
>
> > Usually today people use the term when they are writing are the margins of
> > neo-classical economics (that includes Buchanan).
> >
>
> I have always liked Branko Horvats definition of political economy
> as "a fusion of economic and political theory into one single social
> theory."
>
> In Canada, as Rod indicates, it has taken a very special meaning
> as indicated in this quote from Wally Clement and Glen Williams,
> edicated collection _The New Canadian Political Economy_.
>
> "while political economy is based on a tradition that investigates
> the relationship between economy and politics as they affect the
> social and cultural life of societies, within political economy there
> have been divergent tendencies. Broadly, the liberal political
> economy tradition has placed determinate weight on the political
> system and markets, while the Marxist tradition grants primacy to
> the economic system and classes. Such facile statements,
> however, underplay the complexity of positions within each
> tradition. Political economy at its strongest has focused on
> processes whereby social change is located in the historical
> interaction of the economic, political, cultural, and ideological
> conflict." [1989: 6-7]
>
> Paul Phillips,
> Economics,
> University of Manitoba
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
