Leadership-Member Exchange (LMX) Theory
Informal observation of leadership behavior suggests that leader’s action is not the same towards all subordinates. The importance of potential differences in this respect is brought into sharp focus by Graen’s leader-member exchange model, also known as the vertical dyad linkage theory. The theory views leadership as consisting of a number of dyadic relationships linking […]
Leadership in the Contemporary World
Introduction Leadership is both an art and a science. For actualizing effective and efficacious leadership, leaders must first articulate a vision, lay down a mission, communicate the vision and the mission to all the relevant stakeholders, implement the same, and ensure that feedback is sought and incorporated for the next iteration. Further, leadership is situational […]
Reinsurance and Foreign Exchange Risks
All insurance companies face foreign exchange risks to some extent. However, all insurance companies are not equally concerned about foreign risks. This is because, for most insurance companies, the risks as well as the premiums are collected in the same currency. Generally, the business of an insurance company tends to be managed locally. However, this […]
The Perils of Excessive Reliance on Technology for Decision makers and HR Professionals
The All Pervasive Technology and the Inevitability of Technology Driven Decision Making Technology is all around us. Wherever we look and whatever we search for, chances are that we cannot escape the overarching and overweening presence of tech in our careers and personal lives. Indeed, technology has become so pervasive that it is impossible for […]
Importance of Compassion in Leadership
It has been researched that many leaders refrain from showing compassion at their work place. There are multiple reasons due to which they do so, discussing some of these below: Showing compassion would mean agreement with the subordinates: Many people think that being compassionate would mean that they are agreeing with whatever have been done […]
Political science is that branch of the social sciences that studies the state, politics, and government. Political Science deals extensively with the analysis of political systems, the theoretical and practical applications to politics, and the examination of political behavior.
The Greek thinker, Aristotle, defined political science as the study of the state.
Many political scientists view themselves as being engaged in fleshing out the connections between political events and conditions, and by this understanding they hope to construct a system of general principles that posit the way the world of politics works.
Political science is not a standalone field and it intersects many other branches like sociology, economics, history, anthropology, public policy among others.
Political scientists are much sought after these days because of the changing landscape of politics across the world and since the society wants to understand how the political world works, they need someone to explain the nuances of the political economy.
Any casual perusal of the newspapers and the television channels reveals that political scientists are at the forefront of debates and discussions for their knowledge and expertise.
The scope of political science is vast and experts have divided the field of political science into five sub-disciplines that are:
It needs to be noted that these sub-disciplines cover the entire gamut of the modern political economy and provide the basis for the study and understanding of how the global political economy works.
The study of the matters concerning the allocation and distribution as well as the transfer of power is one of the main preoccupations of political scientists. The success or otherwise of the governance structures is gauged by political scientists who examine the multifaceted and multilayered factors at work that contribute to good or bad governance.
The scope of the political scientists has now been broadened to include the realm of the study of the democratic elections across the world.
In other words, with the explosion in the political systems all over the world, political scientists, and their scope of study has been considerably enhanced.
The importance of political science lies in the fact that all of us live within political systems and we are affected by the changes in the global political economy.
With the advent of globalization, there has been a concomitant rise in the interest taken by the people of the world in understanding the political systems of other countries. Hence, political scientists become valued and important as they provide the lens through which we can understand the global political economy.
There are many universities that provide graduate and higher-level degrees in political science and in recent years, because of the renewed interest in political science as a field of study, there are many takers for these courses.
This article sets the context for the subsequent discussion on the various aspects of political science and its relevance to the modern political economy.
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What is Compassionate Capitalism and Why We Need it in These Times of Planetary Crisis ?
February 12, 2025
