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RE: Is Economics Just Politics?

in #politics4 years ago

Did you know that Economics and Politics etymology senses are related? A definition of oïkonomia (economy) would be the organization of the house while one of Politikos (politics) would be the study of a city's organization, of social interactions, and the use of power to regulate it. Politics would be Economics but on a bigger scale!

If economics and political science turn out to be two sides of the same coin, why not just put them both in one department?

Obviously the two fields overlap. Politics define the rules adopted to make the economic wheel works a certain way. Economics are the rules that make the economic wheel works. The main difference here is that political science intent to make the economy works according to a vision, to beliefs and though, to people. There is this notion of power in action to organize the state, just like you organize your home. In a way, political economics is the study of the economical rules that make people live peacefully together.

I would say that economics are the maths, while politics are philosophy. You discover the rules and think about how to apply it according to your vision.
Now, I don't think Political Science and Economics should be put in the same departments since they are not dependant. You can do economics without thinking of political sciences. In the same way, you can study political sciences from a geopolitical perspective, or a psychological one.

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This is a great response! To me, though, there are two branches of economics: one that is full of maths, as you say; the other reliant on history and stories and... philosophy.

The mathematical economics is one that I always tend to reject, mostly because it seems like the maths are all based on some mythical "perfectly rational" human being, the likes of which, by the way, I've never met! So my approach is more that of the historical school of economics, the anti-Austrians if you will. But it's still economics!

I agree! Thinking that people are rational is more of a tale than anything else! But we can study data to understand how people act economically according to the situation!
That would give us ...
image.png

Not sure what this cartoon means, but... is it like the Spiderman meme?

It's the fusion from Dragon ball z!