History's Significance in the Disciplines of Politics and Economy

This essay examines the crucial role of history in the disciplines of political science and economics. It emphasizes how historical events and contexts significantly influence the understanding of contemporary political and economic systems. The essay explores the interconnectedness of history with the evolution of political institutions, economic systems, and the ideologies that shape them. It highlights how historical analysis provides the necessary background for understanding the present and making informed decisions about the future. The essay references the works of Galbraith, Hancock, and Rosselli to support its arguments, illustrating the long-standing relationship between history, politics, and economics. The paper underscores that a comprehensive understanding of these disciplines requires a deep appreciation of their historical roots and the continuous impact of past events.

Running head: POLITICS AND ECONOMY
POLITICS AND ECONOMY
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Running head: POLITICS AND ECONOMY
The respective essay is a discussion about the role played by history in the social science
discipline of Politics and Economy. The subject history has a vast connotation and significances
in various social science interdisciplinary subjects. The respective paper is an analysis of the task
of history and its significance on the two interdisciplinary subjects, which are Political Science
and Economics.
History can be defined as the study of the events that have happened in the ancient,
medieval, modern and contemporary past. History looks at every event in turns, introspecting
and analyzing its causes and effects, and as it acknowledges the pattern, the similarities and
differences between different histories, the starting point of history is always the passage of time.
However, there is definitely a link between history and the subject of economics. Every single
piece of economics is a crystallized form of history (Rosselli, 2013). A deeper and much
sophisticated form of knowledge can be gained with the help of the two inter-disciplinary
subjects. Throughout the passage of time, the history studies the events, systems and approaches
of each time period where economics is also linked. It is through historical data and facts that the
economists get the knowledge of the economic systems in the ancient and medieval civilization
because if we do not understand the past, we would not understand the present situation and
analyze it in correct way (Galbraith, 2017). There has been a long-standing connection between
economics and history. Most major historical events have an economic basis to them. On the
other hand, there is also an intense relationship between the subject political science and history
as well. “History is past politics and politics is present History”, as said by Freeman, political
science can be correlated to history (Hancock, 2016). All political institutions —State,
Government, Legislature, Executive, Judiciary and others— have a history of evolution behind

Running head: POLITICS AND ECONOMY
them. Each of the institutions have certain past system and approach which again, is a product of
history, therefore, political science and all the aspects of political science discipline is considered
to be a product of history. Without studying their history Political Science cannot really study
their contemporary nature, position and relations among these. Hence, Political Science always
takes the help of History for studying political institutions i.e. the history of their evolution from
their emergence and gradual evolution into their contemporary forms, powers, functions, mutual
relations and relative positions. The actions taken by the governments, statesmen, literary
figures, political parties and political leaders in the past, their events and happenings, their tasks
which they have finished or might have kept unfinished, all such factors are components of
history. Therefore, it can be said that politics create history and history also paves way to
different political actions, thoughts and ideologies in a greater approach and context (Hancock,
2016).
The respective essay is a discussion about the role played by history in the social science
discipline of Politics and Economy. The subject history has a vast connotation and significances
in various social science interdisciplinary subjects. The respective paper is an analysis of the task
of history and its significance on the two interdisciplinary subjects, which are Political Science
and Economics.

Running head: POLITICS AND ECONOMY
References:
Galbraith, J. K. (2017). Economics in perspective: A critical history. Princeton University Press.
Hancock, A. M. (2016). Intersectionality: An intellectual history. Oxford University Press.
Rosselli, A. (2013). Economic history and history of economics: In praise of an old relationship.
The European Journal of the History of Economic Thought, 20(6), 865-881.