What effect have recent developments in political economy shown
A)They have rendered much of the traditional field of political science obsolete.
B)They have rendered much of the traditional field of economics obsolete.
C)They have reaffirmed the good qualities of majority voting.
D)They have pointed to the fact that government is a less-than-perfect institution.

Question

Quizplus · Accepted Answer

Recent developments in political economy have highlighted the limitations of government institutions and their tendency towards inefficiency, corruption, and rent-seeking. As such, the field has emphasized the need for careful consideration of incentives and institutional design in order to mitigate these shortcomings. However, it has not made the traditional fields of political science or economics obsolete, but rather it has enriched these fields by incorporating insights from each to provide a more comprehensive understanding of the complex interactions between politics and economics.

What Effect Have Recent Developments in Political Economy Shown