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Comparative Government & Politics: Political Economy

Lecture four discusses the relationship between freedom and equality in the economy. States play different roles in the economy depending on their economic systems. Topics include: markets and property, public goods, social expenditures, taxation, money, regulation, trade, political-economic systems, and economic indicators. Key Terms: capitalism • central bank • comparative advantage • deflation • economic liberalization • Gini index • gross domestic product • Human Development Index • hyperinflation • hyperinflation • inflation • laissez-faire • market • mercantilism • monopoly • nontariff barriers • parastatal • political economy • property • public goods • purchasing power parity • quota • regulation • social expenditures • tariff Learn Comparative Government and Politics is a project of Scott Duryea, Ph.D. (Associate Professor of Security and Global Studies at American Public University) to provide political science education to the masses.