Political Economy : A Branch Of Social Science

1187 WordsMay 12, 20165 Pages
Political economy is a branch of social science. The term of political economy has come from Greek word ‘polis’ means city or state and ‘oikonomos’ meaning one who manages a household or state. So we can tell political economy thus can be understood as the study of how a country or household is manage or governed taking into account both political and economic factors (David N Balaan) According to Adam Smith “Politic al economy is a branch of science of a statement or legislature concerned with providing a plentiful revenue or subsistence for the people, supplying the state or commonwealth with a revenue sufficient for public service” So we can tell that political economy is about 1) Regarding to the economy role of the state 2) Interaction between political and economical process. 3) Based on property and wealth, distribution of political power. My topic is the political economy behind good relationship between the USA and Saudi Arabia. So it means the good relationship and behind this what political and economical reason are working. Relationship between USA and Saudi Arabia: The relationship between USA and Saudi Arabia is problematic. The two countries are fully different from one another. One is ultraconservative Islamic absolute monarchy and another is secular democratic republic, but within them have special relationship. The relation began from 1933. The formal president George W Bush and present president Barak Obama have close and strong relationship with Saudi
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