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♥Comparative Government & Politics Unit-5 Comparative methods and Approaches

♥Comparative Government & Politics Unit-5 Comparative methods and Approaches

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UNIT 5 THE POLITICAL ECONOMY APPROACH Structure Objectives Introduction: Evolution o f the Concept Development as Modernisation Development as Underdevelopment and Dependency World System Analysis Articulation o f Modes o f Production Approach Class Analysis and Political Regimes State Centred Approach Globalisation and Neo-Liberal Approacli Let U s Sum Up Key Words Some Useful Books Answers to Check Your Progress Exercises 5.0 OBJECTIVES Comparative politics seeks to study relationsliips among countries. It seeks also to find explanations for specific social and political phenomenon in these relationships. The political economy approach to the study o f comparative politics is one way o f looking at this relationship. It proposes that there exists a relationship between politics and economics and that this relationship works and makes itself manifest in several ways. I t is tlie understanding o f this relationsliip . and the manner in whicli it unfolds, which subscribes to this approach maintain, provides the clue to the study o f relationships between and explanations o f social and political phenomena. After reading tliis unit, you will be able to: understand various attributes o f political econorny as a concept; learn how the concept lias become relevant for the study o f comparative politics; and know historically, putting into context the various ways in wllicll the political economy approacll has fornled the basis o f studying relatio~lsllips between countries and social and political phenomena over tlie past years. 5.1 INTRODUCTION: EVOLUTION OF THE CONCEPT Political economy refers to a specific way o f understallding social and political . phenomena whereby, econo~nics and politics are not seen as separate domains. It is premised (a) on a relationsliip between the two and (b) the assumption that tliis relationsliip unfolds in multifarious ways. These assu~nptions constitute important explanatory and analytical frameworks witllin which social and political phenomena can be studied. Having said this, it is important to point out that whereas the concept of political economy points at a relationsliip, there is no single meaning which can be attributed-to tlie concept. Tlie specific meaning the concept assumes depends on the theoreticallideological tradition. e.g., liberal or Marxist, within wllicll it is placed, and depending on this positioning, the specific manner in which economics and politics tllenlselves are understood. I~iterestingly, the appearance o f econo~nics and politics as separate domains is itself a modern phenomenon. From the time o f Aristotle till the middle ages, the concept o f economics as a self regulatinglseparate sphere was unknown. The
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C o ~ a r a t i v e Methods and word 'econo~ny' dates back to Aristotle and signified in Greek 'the art of Approaches household management'. It is derived from the Greek oikos meaning a house, and nomos ~neaning law. As the political evolution in Greece followed the sequence:
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