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. Historical development Political economy is a very old subject of intellectual inquiry but a relatively young academic discipline. The analysis of political economy in terms of the nature of state and market relations , both in practical terms and as moral philosophy, has been traced to Greek philosophers such as Plato and Aristotle as well as to the Scholastics and those who propounded a philosophy based on natural law. A critical development in the intellectual inquiry of political economy was the prominence in the 16th to thel 8th century of the mercantilist school, which called for a strong role or the state in economic regulation.
"The Nature of Political Economy”
The relationship between economics and politics - Economics Help
Please join StudyMode to read the full document. Political economy is most commonly used to refer to interdisciplinary studies that draw on economics , law, and political science in order to explain how political institutions, the political environment, and the economics mix with each other. Political system Italy represents a parliamentary republic with strong Parliament, strict separation of branches of power, titular President and the Government which is very dependent on the parliamentary support. All the above mentioned in fact allows us to consider Italy to be a classical parliamentary republic with all its benefits and disadvantages. Now let's try to describe every key element of political system of Italy. The Italian Parliament is elected once per 5 years and consists of two chambers: the Senate and the Chamber of Deputies having and seats correspondingly. The elections system changed several times, it has different mathematic formulas for each chamber and is quite complicated.
Political Economy Research Paper
Please join StudyMode to read the full document. Nature of political economy The word economy , drawn from two Greek words, house and law, which together signify the management or arrangement of the material part of household or domestic affairs, means in its most common sense the avoidance of waste. We economize money or time or strength or material when we so arrange as to accomplish a result with the smallest expenditure.
In: Business and Management. National Differences in Political Economy By: Roberta Gandy National University November 30, There are many differences between business in the United States and other countries with the way the political, economic and legal systems are setup. Cultural practices have an influence with the growth of business to include the size of the population, education and the skills learned and practiced for business. Cost, risks, and benefits will help international businesses decide if they want to do business in other countries.