Political Science and Economics
Economics is a social science or a branch of study that concerns itself with the problem of allocating scarce resources so as to attain the optimum satisfaction of society’s unlimited wants. By employing the economics approach , a student of political science gains an insight into the economic conditions of the state. He learns how the government shapes and determines economic policies on the use of the state. Political and economic conditions, act and react on one another. As a matter of fact, the solution of many of the economic problems must come through political agencies and the major problems of every state are economic character. World War II was characterized as a war of democracy against dictatorship. However, the causes of the war were really economic. The rise of Nazi-ism was also due to the economic crippling of Germany by victorious power after World War 1. The Greek writers considered both the sciences one and called Economics as Political Economy. Economics was called Political Economy by the Greeks and was defined by them as the art of providing revenue for the state." In modern times, the political scientists and economists have become almost one and are bent upon doing good to human society. "The new outlook of the welfare State". Says Professor B. K. Gokhale, “brings together political thinkers, administrators and economists, who plan in collaboration with the larger interests of the State. The welfare of the people in a state would not be raised if economic principles are divorced from political principles and if economic activities are not regulated by the State." In addition to this production and distribution are greatly influenced by the scheme of the government. Economic problems are solved by the State with which Political Science deals in detail. The economic order is closely connected with the political order. Political order cannot run without the assistance of economic order and the smooth running of economic order is not possible without the assistance of political order. The intimate affinity between political order and economic order comes into light when we study labor legislations, tariff laws, trade, currency and exchange problems. "The production and distribution of wealth", says Dr. Garner, "are to some extent determined by the existing forms of government." "All economic activities are carried within the State on conditions laid down by the State in laws and prevailing theories of state or government functions profoundly affect the economic life of a country.” Political movements are profoundly influenced by economic causes." says Professor Gilchrist, "economic life is conditioned by political institutions and ideas."
Influence of Economics on Political Science:
Though the twentieth century economists regard Economics as a separate social science quite distinct from Political Science, it does not mean that there is no intimacy between both the sciences. As a matter of fact, in twentieth century the dawn of the welfare stale has made the inter-dependence of Political Science and Economics more clear than any other concept. The problems of the modern state are mainly economic problems. If we study ancient history, we shall come to know that the economic conditions had influenced the political affairs. In ancient times when man was passing through Hunting and Pastoral Age, the question of organizing the state or forming the government did not arise because man used to wander from one place to another. When he entered the age of civilized and cultured life, he started tilling the land and started living in a particular part of the land. By and by the state and the government came into being. But at that time only those people who possessed land ruled supreme. During the time of Industrial Revolution in Europe, industrialists and capitalists ruled supreme. Now-a-days we can see the influence of a capitalists in the capitalistic countries. The...
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