English Literature or Philosophy are better regarded than History in a general sense. However, since you are wanting to study Economics and Politics you would be better off with either Philosophy or History.
It then chalks up to the matter of which is more relevant,
Both of them will have chaff that is somewhat irrelevant to Econ/Politics but;
History will have plenty of, well, history - a good chronological backdrop is a Godsend for setting up the context of a discussion on politics.
Philosophy systematized politics and political systems, and really promotes clear and direct logical thought - which is great for any degree. The problem is you will encounter a lot of chaff about ethics which might not really be relevant. Philosophy is on-par with Eng. Lit. in terms of essay writing techniques.
English Lit. is very well respected, however a good knowledge of Chaucer or Marlowe does go a long way - it simply doesn't help as much as the other two.
That said If you pick the one you prefer, you will do best at it, and it will be of most use.
(NB: They combine Politics, Philosophy and Economics for a reason pick Philosophy it's better
)