Basic Guidelines For English Spellings
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1Political Economy
The doctrine or theory that increasing productivity is the primary goal of socio-economic activity.
2Art
Also with capital initial. The identification of the value of artistic creation with utility and a focus on the mechanisms of production; the artistic movement (an offshoot of constructivism) associated with this.
Early 20th century; earliest use found in Journal of Political Economy. From productive + -ism.