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Political Economy Research Articles | Open Access Journals
Journal of Global Economics

Journal of Global Economics

ISSN: 2375-4389

Open Access

Political Economy Research Articles

Political economists study is how economic theories such as capitalism, socialism and communism work in the real world. At its root, any economic theory is a methodology that is adopted as a means of directing the distribution of a finite amount of resources in a way that is beneficial for the greatest number of individuals. In a wider sense political economy was once of the common term used for the field we now call economics. Adam Smith and John Stuart Mill and Jean-Jacques Rousseau all used the term to describe their theories. The briefer term economy was substituted in the early 20th century with the development of more rigorous statistical methods for analyzing economic factor. The term political economy is still widely used to describe any government policy that has to be an economic impact.

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Citations: 2175

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