Tag: Simple

Political economy – Simple English Wikipedia, the free encyclopedia

Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government.

It developed in the 17th century as the study of the economies of states which placed the theory of property in the theory of government.[1]
Some political economists proposed the labour theory of value (first introduced by John Locke, developed by Adam Smith and later Karl Marx), according to which labour is the real source of value. Many political economists also looked at the accelerating development of technology, whose role in economic and social relationships grew ever more important.

In late 19th century, the term “political economy” was generally replaced by the term economics, which was used by those seeking to place the study of economy on a mathematical basis, rather than studying the relationships within production and consumption.

In the present, political economy

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Simple English Wikipedia, the free encyclopedia

A government is a group of people that have the power to rule in a territory, according to the law. This territory may be a country, a state or province within a country, or a region.

  • Governments make laws, rules, and regulations, collect taxes and print money.
  • Governments have systems of justice that list the acts or activities that are against the law and describe the punishments for breaking the law.
  • Governments have a police force to make sure people follow the laws.
  • Governments have diplomats who communicate with the governments of other countries by having meetings. Diplomats try to solve problems or disagreements between two countries, which can help countries to avoid war, make commercial agreements, and exchange cultural or social experiences and knowledge.
  • Governments have a military force such as an army that protects the country from terrorists and other major threats that attack or which can be
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