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Historians have employed political economy to explore the ways in the past that persons and groups with common economic interests have used politics to effect changes beneficial to their interests. [50] Political economy and law is a recent attempt within legal scholarship to engage explicitly with political economy literature.
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Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary for supplying the wants of the society, and to employ the inhabitants ...
Keynes utilizes this idea and also draws on Malthus' concept of government spending during times of economic crisis. [4] Keynes cites this chapter of Malthus' book as "a masterly exposition of the conditions which determine the optimum of saving in the actual economic system in which we live." [8] However, Keynes also critiques Thomas Malthus ...
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. [1] A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the distributive consequences of international economic activity.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The concept of a moral economy was first elaborated by English historian E.P. Thompson, [32] and was developed further in anthropological studies of other peasant economies. Thompson wrote of the moral economy of the poor in the context of widespread food riots in the English countryside in the late eighteenth century.
In addition, political ecology attempts to provide critiques and alternatives in the interplay of the environment and political, economic and social factors. Paul Robbins asserts that the discipline has a "normative understanding that there are very likely better, less coercive, less exploitative, and more sustainable ways of doing things".