Introduction to Political philosophy and Economics.
Hi! I decided to study political philosophy and economics for myself to have a better understanding of how society and political issues works. So this post is an introducing to political philosophy and economics. I will be writting a lot of information about both subjets from now. Welcome and enjoy it.
Economics is concerned with studying and influencing the economy. Politics is the theory and practice of influencing people through the exercise of power, e.g. governments, elections and political parties.
In theory, economics could be non-political. In practice there is a strong relationships between economics and politics because the performance of the economy is one of the key political battlegrounds.
Political ideology influencing economic thought
Many economic issues are seen through the eyes of political beliefs. Economists may have a preference for promoting greater equality in society and be more willing to encourage government intervention to pursue that end. Some economists may be scrupulously neutral and not have any political leanings. However, for a politician, they can use those economists and economic research which backs their political view.
Or also called political theory is the study of topics such as politics, liberty, justice, property, rights, law and the enforcement of a legal code by authority, what they are, why (or even if) they are needed, what, if anything, makes a gouvernment legitimate, what rights and freedoms it should protect and why, what form it should take and why, what the law is, and what duties citizens owe to a legitimate government, if any, and when it may be legitimately overthrown, if ever.
“Political philosophy” often refers to a general view or specific ethic, political belief or attitud, about politics, synonymous to the term “political ideology”.
Political philosophy is considered by some to be a sub-dicipline of political science; however, the name generally attributed to this form of political enquire is political theory, as dicipline which has a closer methodology to the theorical fields in the social sciences (like economic theory) than to philosophical argumentation (like that of moral philosophy or aesthetics).
Political science is a social science which deals with systems of governance, and the analysis of political activities, political thoughts and political behaviour. It deals extensively with the theory and practice of politics which is commonly thought of as determining of the distribution of power and resources.
comprises numerous subfields, including comparative politics, political economy, international relations, political theory, public administration, public policy and political methodology. Furthermore, political science is related to, and draws upon, the fields of economics, law, sociology, history, philosophy, geography, psychology, and anthropology.
Economics is not primarily about money or finance. It is not primarily about business. It is not mathematics. It is both a subjet area and a way of viewing the world.
Economics is the study of how humans make decisions in the face of scarcity. these can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life. Scarcity means that human wants for goods, services and resources exeed what is available.
Economics is “a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services”.
Economics focuses on the behaviour and interactions of economic agents and how economies work.
Why study Philosophy, Politics and Economics.
The study of philosophy is considered important because equips students with meta-tools such as the ability to reason rigorously and logically, and facilitates ethical reflection. The study of politics is considered necessary because it acquaints students with the institutions that govern society and help solve collective action problems. Finally, studying economics is seen as vital in the modern world because political decisions often concern economic matters, and government decisions are often influenced by economic events.
Principles of Macroeconomics (openstax college)