Political Economy

Literary/ Cultural Context Essay

Stewart Crehan (University of Zambia)

The Literary Encyclopedia. WORLD HISTORY AND IDEAS: A CROSS-CULTURAL VOLUME.

Domains

Political Economy

Dates

Date of occurrence 1740-1860

Places

United Kingdom (Location)

Political economy is the theory of wealth and of how wealth is created and shared out in society. Its key concepts are production, distribution, exchange, and consumption. The word “economy”, originally spelt “oeconomy”, derives from oikos, a household, and nomos, law. The oikonomos in ancient Greece is one who manages and sets the laws of the household. In Homer's Odyssey Odysseus's real identity is inseparable from his status as ruler of his oikos in Ithaca, with its house, land, slaves, cattle and stored produce. The term économie politique, first coined by the philosophes of the French …

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4632 words

Citation: Crehan, Stewart. "Political Economy". The Literary Encyclopedia. First published 05 October 2004 [https://staging.litencyc.com/php/stopics.php?rec=true&UID=1482, accessed 23 November 2024.]

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Political Economy

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