This work is a survey of the principles and methods of political economy, the study of how societies allocate and distribute resources. The authors provide a historical overview of the field, as well as a detailed analysis of key concepts such as supply and demand, free trade, and the nature of value. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.