Political Economy: What's in a Name?

Abstract

The expression "political economy" is becoming increasingly fashionable in English-speaking countries (on the continent of Europe it has always been in use). It is being set up mostly as a standard of revolt against so-called "orthodox" economics. But the meaning being given to the expression is far from clear. Surely it cannot merely be a question of opposing the term "economics" to the term "political economy." What follows is an attempt—admittedly sketchy—to raise some of the issues involved.

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