Meaning of “political economy” in the English Dictionary

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"political economy" in Business English

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political economynoun [ U ]

uk us

ECONOMICS, POLITICS used, especially in the past, to refer to the study of the economy of a particular country or countries and how it is connected with the political system:

Adam Smith is often regarded as the founder of political economy.

(Definition of “political economy” from the Cambridge Business English Dictionary © Cambridge University Press)