Political Science · Comparative Political Analysis
UGC NET January 2017 Political Science
'Economics is value free, but political economy originates in the context of the ideological debate of the eighteenth century' is a comment made by
AMarx
BKeynes
CSchumpeter ✓ Correct
DAmartya Sen
Correct answer: (C) Schumpeter — The remark that economics is value-free while political economy arose from eighteenth-century ideological debate is made by Schumpeter, so he is the answer.
Explanation
★The remark that economics is value-free while political economy arose from eighteenth-century ideological debate is made by Schumpeter, so he is the answer.
★Joseph Schumpeter was an Austrian-American economist and political scientist of the twentieth century.
★He is famous for the idea of creative destruction, where innovation constantly remakes the economy.
★His work Capitalism, Socialism and Democracy (1942) also gave an elitist, competitive theory of democracy.
★He briefly served as Finance Minister of Austria in 1919.
★Marx, Keynes and Amartya Sen are major thinkers but not the source of this particular remark.
★The comment marks Schumpeter's distinction between value-free economics and value-laden political economy.
Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.
Shared by Mcqkart · via Mcqkart.in