Meaning: The quote "The confounding Political Economy with the Sciences and Arts to which it is subservient, has been one of the principal obstacles to its improvement" by Nassau Senior, an economist, raises an important issue regarding the understanding and development of political economy. In this quote, Senior highlights the confusion and conflation of political economy with the sciences and arts that it serves, suggesting that this confusion has hindered the improvement of political economy as a distinct field of study.

Political economy is a social science that explores the production, distribution, and consumption of goods and services, as well as the functioning of markets and policies that affect these activities. It is closely related to fields such as economics, sociology, and political science. However, Senior's quote suggests that political economy has often been misunderstood and muddled with the disciplines it informs, leading to challenges in its advancement.

The confusion Senior refers to may stem from the interdisciplinary nature of political economy. While it draws on principles from various sciences and arts, such as mathematics, history, and ethics, it also has its own distinct theories and methodologies. The failure to recognize and respect the unique contributions of political economy as a separate field may have impeded its progress.

One consequence of this confusion is the potential lack of focus on the specific tools and frameworks that are essential to the study of political economy. By conflating it with other disciplines, there may have been a tendency to overlook the development of political economy's own specialized methods for analyzing economic and political phenomena. As a result, the field may not have reached its full potential in terms of generating insights and solutions to complex societal challenges.

Furthermore, the conflation of political economy with other sciences and arts may have led to a lack of appreciation for its distinct policy implications. Political economy is concerned with understanding how political and economic forces interact and influence decision-making at individual, societal, and governmental levels. By failing to recognize its unique contributions, the development of effective policies and governance structures may have been hindered.

Senior's quote also suggests that the confusion surrounding political economy may have impeded its improvement. Without a clear understanding of its boundaries and objectives, the field may have struggled to define its research agendas and educational curricula. This lack of clarity could have hindered the advancement of political economy as an academic discipline and a practical tool for addressing real-world challenges.

In conclusion, Nassau Senior's quote emphasizes the need to disentangle political economy from the sciences and arts it serves in order to facilitate its improvement. By recognizing and respecting the distinct contributions of political economy, it can be better positioned to advance as a field of study and to provide valuable insights for addressing complex economic and political issues. Clarifying the boundaries and objectives of political economy is essential for realizing its full potential and maximizing its impact on society.