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The market is always downstream from politics. Karl Marx famously used the term political economy to reference both political and economic forces, because neith
by nopenopenopeno 4y ago
The market is always downstream from politics. Karl Marx famously used the term political economy to reference both political and economic forces, because neither is coherent without the other.
- trasz 4y ago
- CrazyStat 4y agoThe term political economy far predates Marx. I've not heard of Marx famously using it, but I don't doubt he did use it since it was an established field of inquiry at the time--the predecessor to the modern field of economics.
- nopenopenopeno 4y ago“In the 21st century, Karl Marx is probably the most famous critic of political economy, with his three volume magnum opus Capital: A Critique of Political Economy as one of his most famous books.” https://wikipedia.org/wiki/Critique_of_political_economy https://wikipedia.org/wiki/Critique_of_political_economy
- CrazyStat 4y agoI'm not sure what this is supposed to show. Marx being famous for his critiques of political economy is not the same as Marx famously using the term political economy in a certain way. Political economy as an area of inquiry took off in the late 18th century--in no small part due to Adam Smith--and was already very well established before Marx was born [1]. Absent evidence to the contrary it seems questionable to assert that Marx's use of the term was anything other than the common use of the time. [1] https://books.google.com/ngrams/graph?content=political+economy&year_start=1600&year_end=2019&corpus=26&smoothing=3 https://books.google.com/ngrams/graph?content=political+econ...