History Behind the Political Economy

The aim of this blog is to understand how politics and a nation’s economy affect one another.  The term economist’s use for this is political economy. The meaning of political economy has varied over the years. Originally, political economy meant the study of how the conditions in a country affect production and consumption in the parameters organized by the government.  

The term political economy or économie politique first appeared in France in 1615 in a book by Antoine de Montchrétien. Following the book, many prominent theorists began to write about how politics and the economy influenced one another, such as Adam Smith , Karl Marx and Thomas Malthus. In the United States, political economy was first taught at the College of William and Mary where Adam Smith’s book “The Wealth of Nations” was a required textbook.

Citations: 

"Adam Smith-Wealth of Nations vs Karl Marx-Communist Manifesto - The Cold War."Adam Smith-Wealth of Nations vs Karl Marx-Communist Manifesto - The Cold War. N.p., n.d. Web. 15 Dec. 2013.

"Political Economy." Investopedia. N.p., n.d. Web. 15 Dec. 2013.

Links: 

https://sites.google.com/site/caitelizabethm/fiverr-gigs

http://www.investopedia.com/terms/p/political-economy.asp