Political economyPolitical economy is a branch of political science and economics studying economic systems (e.g. markets and national economies) and their governance by political systems (e.g. law, institutions, and government). Widely studied phenomena within the discipline are systems such as labour markets and financial markets, as well as phenomena such as growth, distribution, inequality, and trade, and how these are shaped by institutions, laws, and government policy. Originating in the 16th century, it is the precursor to the modern discipline of economics.
International political economyInternational political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. A key focus in IPE is on the distributive consequences of global economic exchange. It has been described as the study of "the political battle between the winners and losers of global economic exchange." A central assumption of IPE theory is that international economic phenomena do not exist in any meaningful sense separate from the actors who regulate and control them.
Critique of political economyCritique of political economy or simply the first critique of economy is a form of social critique that rejects the conventional ways of distributing resources. The critique also rejects what its advocates believe are unrealistic axioms, faulty historical assumptions, and taking conventional economic mechanisms as a given or as transhistorical (true for all human societies for all time). The critique asserts the conventional economy is merely one of many types of historically specific ways to distribute resources, which emerged along with modernity (post-Renaissance Western society).
Critical theoryA critical theory is any approach to social philosophy that focuses on society and culture to attempt to reveal, critique, and challenge power structures. With roots in sociology and literary criticism, it argues that social problems stem more from social structures and cultural assumptions than from individuals. It argues that ideology is the principal obstacle to human liberation. Critical theory finds applications in various fields of study, including psychoanalysis, sociology, history, communication theory, philosophy and feminist theory.
Income taxAn income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate.
