Political Economists are involved with the allocation of scarce assets in a world of infinite needs and wishes. The three fathers of classical analyses: Adam Smith who published the “Inquiry into the Nature and Causes of the Wealth of Nations”, David Ricardo who wrote “The Principles of Political Economic system and Taxation”, and eventually, Karl Marx whom authored “Capital”, claimed that self-interestedness of people might have maximized any society’s welfare as a complete (Evensky, 2012, p. 10).
With an interdisciplinary method, political economy is related to three subareas: economic fashions of political processes and the links of various factors to one another; worldwide political financial system and the impression of worldwide relations; and the function of the federal government in resource allocation for each kind of financial system.
He just lately co-edited The Political Economy of the Eurozone (Cambridge College Press, 2017). Savvina ChowdhuryÂ teaches feminist economics, economics, and political … Read More