Political Economy Vs Political System

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Political Economy vs Political System
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Political Economy vs Political System
Although the political system and the political economy are related parts of
governance, they have different objectives and purviews. Political economy is primarily
concerned with how politics and economics interact, examining how institutions, laws, and
government policies affect economic activity and results (Hu et al., 2021). It explores
commerce, wealth distribution, taxation, and market dynamics.
On the other hand, the political system includes the broader government framework.
This includes the framework, procedures, and institutions that specify how a society is
governed (Green-Pedersen et al., 2020). This covers the government structure, the division of
powers, the electoral process, and the legal system.
Political system and political economy …
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