CMNS 240 Chapter Notes - Chapter 2-1: Conspicuous Consumption, Neoclassical Synthesis, Dynamite Entertainment

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Political economy is the science of wealth and deals with efforts made by man to supply wants and satisfy desires. Political economy meant the social custom, practice, and knowledge about how to manage, first the household, and later, the community. Political stands for the fundamental unit of political organization in the classical period. Political economy therefore originated in the management of the family and political households. Political economy was defined as a branch of statecraft in the dictionary of economic. Now regarded as a study in which moral judgments are made on particular issues. One can think about political economy as the study of the social relations, particularly the power relations, that mutually constitute the production, distribution and consumption of resources. The products of communication are the primary resources. Calls attention to fundamental forces and processes at work in the marketplace.

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