POL 202 - Comparative Politics

Political economy is the study of the relationship between the market and powerful actors, such as a country’s government. The market is defined as the exchange of goods and services within a given territory. This almost always involves the forces of supply and demand and the allocation of resources through private economic decision-making. The interaction between the state and the market through political, economic, and societal
institutions can frame deliverable outcomes, such as public goods. This can occur not only
within a country, but between them as well. Public goods are defined as goods and services
provided by the state that are available for everyone in society.