Essay On French Political Economy

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Professor Jevons went on further to show the difference between Political Science and the other sciences.

This he believes is because the science treats wealth itself, how it treats wealth itself, what is the best way to consume it and how to take advantage of the other sciences to get it.

In the recent past, there have been increases in the research of the influence of politics on economics.

Such research though old, appears to be ageless as the findings are quite applicable to modern age as much as to the earlier era.

The term, as its name implied, originated because of the belief that the economy and politics could not be separated from each other.

As time went by, it was evident that the both sciences were separated; economics and politics both were sciences in their own rights.He lamented the fact that previous economists and some even at his time looked at wealth creation simply as the disposal of surplus goods by a country. Ricardo clearly pointed out in his work – The Principles of Political Economy and Taxation – the exact science that measured the amounts and concepts to arrive at those amounts, as compared to the inexact and highly unscientific “if not totally false” ways in which theorists attempted to show the advantages of trade.Mr Ricardo proposed that it is not the difference in the absolute cost of production that drives the interchange of goods between countries but the difference in comparative costs.He showed that Mr Ricardo demonstrated that a country which produced a commodity at a high cost would benefit by importing such a commodity from another country which produced the same item at a lower cost, while at the same time, the former country could export another commodity to the reciprocating country at a lower cost than the other country could product it.Mr Mill agreed that this was essentially the true nature of wealth creation for nations.Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays.Political Economy is a term that preceded that science that we fondly call Economics.POLITICAL ECONOMIST HISTORICAL VIEWS Before the new theorists voiced their opinions on the causes of national wealth, the general concencus held by the society was one that modern economist hold now to be totally erroneous.The view held of the influence of consumption, is one such view that heads the table.Politics and Economics are intrinsically and inextricably linked, and one connot be studied or talked about without studying or talking about the other.Political Economy according to Alonzo Potter teaches one how to increase production by teaching us to distinguish between true and false economy.


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