Political Economic Theory - Answers - how the economy produces outcomes
It examines the relationship between politics and economics — how governments affect the
economy, and how economic conditions affect political behavior and decisions.
Cultural Arguments = - Answers Consensus
Economy Arguments = - Answers Products of Conflict
Endowment - Answers economic resource that is under our control
ex. physical labor, money, human capital
Rational Decision Making - Answers the procedure by which a decision is made, not its content
-does not mean good, logical, or reasonable
Factor endowment - Answers the resources or assets that a country or individual possesses,
which can be used to produce goods or services.
State - Answers a political-legal unit with sovereignty over a particular territory and the
population that resides in that territory
Imperial Revolution - Answers burst of institutional innovation; one of earliest states
1. first state
2. taxation
3. permanent bureaucracy
4. standardized system weights and measures
5. creation imperial culture
Sargon the Conqueror - Answers 2340 B.C. leader of the Akkadians who overran the Sumerian
city-state and set up the first empire
Principal Agent Relations - Answers relationship between the person who gives instructions
(usually a government administrator) and the person who implements them
Stratification - Answers inequality across classes
Autonomous Power of the State - Answers it's one thing to claim power; its another to exercise
it
External Assistance - Answers provides protocols and arrangements in requesting for