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political economy (A1)<br />The term used for economics in the eighteenth and nineteenth centuries and revived in recent years to reflect a policy-oriented view of the subject. Liberal political economy was founded by Adam SMITH and was concerned then with the art of managing public finances and the advising of statesmen on revenue maximization. scHUMPETER, in his History of Economic Analysis, defined it as 'an exposition of a comprehensive set of economic policies that its author advocates on the strength of certain unifying normative principles, such as the principles of economic liberalism [or] Socialism'. ROBBINS asserted that political economy is concerned with policy prescriptions. Today, this applied view of economics rejects the world of PERFEcr coMPETITION, criticizes the uncertainties of free enterprise and makes use of PUBLIC CHOICE theory.<br /><em>See also:</em> Post-Keynesians <br /><em>Reference</em><br />Lange, 0. (1963 and 1971) Political Economy, 2 vols, New York and Oxford: Pergamon.
<strong>MIME</strong> – Multi-purpose Internet Mail Extensions, a standard messaging protocol used to exchange text in languages with different character sets and multi-media email among many different computer systems that use internet mail.
<strong>Monetary adjustments</strong> – Term used within MODEL Direct for change transactions impacting a disbursement such as increasing or decreasing the certified loan amount, reducing or canceling a disbursement, etc.
NATIONAL PLAN attempted to introduce this type of planning for nine months m 1965-6.
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