Political Economy Lecture

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6 Terms

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Political Economy

The branch of political science that studies the relationships between individuals, societies, and markets.

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Inequality

The state of being unequal, especially in status, rights, and opportunities.

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Gini Coefficient

A measure of statistical dispersion intended to represent the income distribution of a nation's residents.

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Economic Liberalism

An economic philosophy advocating for minimal government intervention in the economy.

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Neoliberalism

A modified form of liberalism tending to favor free-market capitalism.

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Social Democracy

A political ideology that aims to combine the principles of democracy with a mixed economy