"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
The Commodity Fetish of Modern Economic Theory
"According to Rubin, ?Political economy deals with human working activity, not from the standpoint of its technical methods and instruments of labor, but from the standpoint of its social form. It deals with production relations, which are established among people in the process of production.? In terms of this definition, political economy is not the study of prices or of scarce resources; it is a study of social relations, a study of culture. Political economy asks why the productive forces of society develop within a particular social form, why the machine process unfolds within the context of business enterprise, why industrialization takes the form of capitalist development. Political economy asks how the working activity of people is regulated in a specific, historical form of economy."
- Login to post comments