What is Social Protection?

Political economy

“The term political economy is subject to multiple understandings. Its origin can be found in the work of Adam Smith’s Wealth of Nations, of David Ricardo and Karl Marx. In this body of work, the term referred to the conditions of production organization in nation-states or what today is understood as ‘economics’. Today, the term is defined as analysis that studies the linkages between politics and economics, drawing on theories of economics, law as well as political and social sciences."

Source: World Bank. 2014. "Dimensions of Political Economy". In: World Bank. 2017. "Problem-Driven Political Economy Analysis: The World Bank's Experience". World Bank Group. <http://siteresources.worldbank.org/EXTSOCIALDEV/Resources/PEPR_Chapter2_Dimensions_of_Political_Economy.pdf>. Accessed 17 April 2020.