Economies - and the government institutions that support them - reflect a moral and political choice, a choice we can make and remake. Since the dawn of industrialization and democratization in the late eighteenth century, there has been a succession of political economic frameworks, reflecting changes in technology, knowledge, trade, global connections, political power, and the expansion of citizenship. The challenges of today reveal the need for a new moral political economy that recognizes the politics in political economy. It also (...) requires the redesign of our social, economic, and governing institutions based on assumptions about humans as social beings rather than narrow self-serving individualists. This Element makes some progress toward building a new moral political economy by offering both a theory of change and some principles for institutional design. (shrink)

The birth of political thought has long been associated with the development of either the polis as a new form of political organization in Greece, or of democracy as a new form of government in Athens. This article suggests that this view ought to be expanded. Between the late 6th and 4th centuries bc, the Greek polis of Athens established large, participatory democratic institutions. But the transformation that the polis underwent did not merely affect political structures: in this period, Athens (...) transitioned from an undeveloped, limited access, ‘natural state’ toward a developed open access society – a society characterized by impersonal, perpetual, and inclusive political, economic, legal and, social institutions. Those who witnessed this transformation first-hand attempted to grapple, often critically, with its implications. We show that Thucydides, Plato, and other Greek political thinkers devoted a considerable part of their work to analyzing the polis’ tendency toward not only political, but also economic, social, and legal inclusion. Without understanding this larger picture, we cannot adequately explain the development of Greek political thought. (shrink)