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Vor 2 Tagen · Political economy thus understands the political and the economic as fundamentally co-constitutive. It directs attention to concrete actions and the conditions thereof for a variety of social protagonists (firms, social groups, states) and thus also to the rules, hierarchies, ideas, and interests that come to light in the organization of production, exchange, and consumption. The fact that ...
Vor einem Tag · Economists get excited about inflation, but voters think in terms of price levels—a higher price level can be considered unfair even as inflation falls. GDP is too abstract for voters, who do not care whether “growth” is -0.1% or +0.1%. Economic perceptions (honest perceptions, not sentiment surveys) drive politics.
Vor einem Tag · The term political economy initially referred to the study of the material conditions of economic production in the capitalist system. In Marxism, political economy is the study of the means of production, specifically of capital and how that manifests as economic activity.
Vor 2 Tagen · In Principles of Political Economy and Taxation, Ricardo more rigorously laid down the idea of the assumptions that were used to build his ideas of supply and demand.
Vor einem Tag · ECON 201: Principles of Macroeconomics (Balic) 8: Government and Fiscal Policy Expand/collapse global location ... 8.1: Government and the Economy; 8.2: The Use of Fiscal Policy to Stabilize the Economy ; 8.3: Issues in Fiscal Policy; T ...
Vor 4 Tagen · What I like about this video is that the principles of how the current economy works are conveyed, and you could still derive different prescriptions from it based on the politics you look at it with or the nuanced details you disagree on. E.g. the Austrian and Keynesian schools may disagree on whether the cycles should be allowed to go as they are or government intervention is necessary. At ...
Vor einem Tag · In later editions of Principles of Political Economy, Mill would argue that "as far as economic theory was concerned, there is nothing in principle in economic theory that precludes an economic order based on socialist policies". Mill also promoted substituting capitalist businesses with worker cooperatives, writing:
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