"Political economy is a branch of political science and economics studying economic systems and their governance by political systems."
The analysis of the relationship between politics and the economy, including how economic structures shape political processes and vice versa.
"Widely studied phenomena within the discipline are systems such as labour markets and financial markets, as well as phenomena such as growth, distribution, inequality, and trade."
"These economic systems are shaped by institutions, laws, and government policy."
"Political economy originated in the 16th century."
"The earliest works of political economy are usually attributed to the British scholars Adam Smith, Thomas Malthus, and David Ricardo."
"The work of the French physiocrats, such as François Quesnay and Anne-Robert-Jacques Turgot, preceded the British scholars."
"The term 'economics' gradually began to replace the term 'political economy' in the late 19th century."
"This shift was driven by the increasing consensus of classical liberalism as natural-law, and persisted despite evidence to the contrary during the First World War."
"The term 'economics' usually refers to the narrow study of the economy absent other political and social considerations."
"The term 'political economy' represents a distinct and competing approach that takes into account political and social considerations alongside economic factors."
"Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and modern economics."
"Phenomena such as growth, distribution, inequality, and trade" are areas of interest.
"Economic systems are governed by political systems, including law, institutions, and government."
"The British scholars Adam Smith, Thomas Malthus, and David Ricardo played influential roles."
"Political" signifies the Greek word for "polity" and "economy" signifies the Greek word for "household management."
"The rise of mathematical modeling coinciding with the publication of an influential textbook by Alfred Marshall in 1890 contributed to the dominance of 'economics.'"
"William Stanley Jevons advocated economics for brevity and with the hope of the term becoming 'the recognised name of a science.'"
"The term 'economics' refers to the narrow study of the economy, absent other political and social considerations."
"Political economy represents a distinct and competing approach that considers political and social factors alongside economic factors."
"Citation measurement metrics from Google Ngram Viewer indicate that use of the term 'economics' began to overshadow 'political economy' around roughly 1910, becoming the preferred term for the discipline by 1920."