Political Theory and Thoughts Content
Relation between Political science and Economics
They are Closely related. All economic activities are carried on within the state and all political activities are related to state and government.
Political movements can be influenced by economic causes and economic upheavals can be prevailed by political instability.
As main subject, political science is the state, concerning subject of economics are tariff laws, labor legislation, national planning and government ownership, etc., which are under the state laws.
Economic achievement can be possible by good administration and political performance in a political system.
The burning question of present day politics is government control of industries, the relations of the state to industries, its attitude towards labor and capital and etc.
All economic questions are intertwined in the political issue.
Difference between political science and economics
- Economics is concerned with things while political science concerns with people, one deals with prices and other with values and virtues.
- Political science is normative science while economics is descriptive science.