Evolution of Political-economic Thinking essay

Representing a complex phenomenon, political-economic way of thinking forms the object of study in several sciences such as philosophy, economics, sociology, and psychology. Only a comprehensive study can give a deeper understanding of it, to identify ways of its evolution.

Bowles, Franzini & Pagano (1999) added that radical changes in the economy require a change in consciousness and in economic thinking. The transition to a market economy, the creation of its infrastructure, the launch of its mechanisms, denationalization, privatization, which are ambiguous on the methods of implementation, inevitably are pushed against the lack of understanding, indifference, the old ideas about the economy, the mechanism of management; and it happens at all levels of management. In this situation, political-economic thinking is not only a consequence but also a key factor in changes in the economics and politics. Accordingly, the formation of such thinking is one of the most important problems to be solved in the course of economic reforms in any country.

Thus, the role of consciousness, thinking, in economic and political reality has a tendency to increase. At the same time, economic and political thinking for a long time, formed in the administrative-command system, bureaucratic, subjected to deformation. Therefore, dynamic changes in the economy will depend largely on the depth of the purposeful formation of modern economic thought, which is relevant to social market economy. All this has put forward a study of economic and political thinking in some of the most topical problems in economic theory and the social sciences.

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