Political Economy
Detail from the mosaic floor of the Byzantine church in Masada.

Definitions of Political Economy:

  • “Political Economy is more concerned (than mainstream economics) with the relationships of the economic system and its institutions to the rest of society and social development. It is sensitive to the influence of non-economic factors (such as political and social institutions, morality, and ideology) in determining economic events. It thus has a much broader focus than mainstream economics.” (Riddell, Shackelford, and Stamos, Economics: A Tool for Critically Understanding Society, 5th Edition, 1998)
  • It is the study of how the process of political and electoral decision can affect economic results, and vice-versa.
  • It is an approach to social inquiry that emphasizes interaction with the political structure and its movements, and their consequences for economic activity.
  • It is an approach that makes political and economic analysis work together, in interpretation of new dtievelopments.

Mosaico Political Economy

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