Economics and Political Science

Abstract

On a superficial level, economics is simpler than political science. This is partly because it uses a powerful hypothesis about economic activity—that human beings economize or, more precisely, seek to minimize costs for a given output or to maximize output for a given cost or input. It is also partly because inputs and outputs can be measured in a single numéraire or scale: money. Costs, values, prices, both for single goods and for aggregates such as income and wealth, can be expressed and ranked in precise, quantitative terms. A house is worth more than a book; the income per capita of an American is 60 times that of the average Indian.