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What is political economy.docx

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Political Science
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Joseph Roman

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March 14, 2013 1) What is political economy? 2) Figures in political economy - Smith, Keynes, H?, Friedman 3) Institutions, interests and ideas in political economy What is political economy? - Originally economics focused on the allocation of wealth - However now economics has moved away from that - Tends to treat all economies as if they were the same - Politics interfere in everything - The theory is always right, the actor is always wrong - Two ways to allocate resources o States o Markets - Focused on a few things o The question of power within the economy  Whenever power comes into any equation, interests are being observed  The allocation of resources will be unevenly distributed between social groups in the state  Look at the power of relationships between groups of peoples and individuals o Social mobility isn’t as high as we like to think in Canada  If you want to move from low to middle income brakets, you have a
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