Description:

THE SYSTEMS OF GOVERNMENTAL POLITICAL ECONOMY II
Even a bad sovereign feels more compassion for his people than can ever be expected from the farmers of his revenue.
He knows that the permanent grandeur of his family depends upon the prosperity of his people, and he will never knowingly ruin that prosperity for the sake of any momentary interest of his own.
It is otherwise with the farmers of his revenue, whose grandeur may frequently be the effect of the ruin, and not of the prosperity of his people.
Political economists are concerned with the allocation of scarce resources in a world of infinite wants and needs.
In order to allocate these resources, politics are used within a state to provide for the people.
Political economy is the study of the relationships between individuals and society, and more specifically, the relationships between citizens and states.
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