Money performs its economic functions best when its value remains stable over time. This Article explores how that desideratum was achieved, or not achieved, under five identifiable monetary regimes in economic history. Transitions from one regime to another resulted from the demands of economic growth, which some regimes met better than others. The modern fiat money regime is optimal in most economic respects. Whatever amount of money needed to accommodate growth can be supplied at minimal costs. But political control (...) over money creation can be used to increase the short-term control over economic resources of those in power and their constituents. When such debasements of money have occurred, the political economy of every regime interfered with achieving optimal long-term economic outcomes by unleashing inflation. How might the modern fiat money regime avoid that result? (shrink)

Foucault’s analysis of the relation of power and the economy in the lectures given at the Collège de France between 1975 and 1979 opens up modern societies for a radically different interrogation of the relations of force inscribed in historically heterogeneous forms of wealth creation and distribution, but more specifically within the period of liberal capitalism. Its vast scope clears the ground for genealogies of power, political economy and race that demonstrate their intertwinement, yet he underplays several elements which (...) have been central for the institution of the political economy of liberal capitalism, particularly regarding colonial expansion and subjugation, the prior existence of trade and other networks operating on a world scale, and politico-economic and technical developments, such as banking and finance, that acted as conditions of possibility. By redressing the balance, this article outlines a different genealogy of the emergence of biopolitics and the mechanisms supporting global capitalism, making visible the constitutive role of colonialism. It suggests elements for a more fundamental critique of inequality, one that relays the Foucaldian themes of economy, territory, security, population and race according to a longer periodization that reveals most economies to have been zero-sum games of ‘winners’ and ‘losers’. Transcending this situation requires a radically different, transcolonial and transindividual understanding of the essentially collaborative and co-implicate character of the production of all life. The implications mean the rejection of ontologies that support not only neoliberalism but other forms of dispossession and pauperization, often allied to the hierarchization of difference, opening the way for a different history of the present and for imagining new economies and socialities. (shrink)

Safronov’s Nietzsche’s Political Economy is a pioneering appraisal of Nietzsche’s critique of industrial culture and its unfolding crisis. The author contends that Nietzsche remains unique in conceptualizing the upheavals of modern political economy in terms of the crisis of its governing values. Nietzsche scrutinises the norms which, not only preside over the unfathomable build-up in debt, the proliferation of meaningless, impersonal slavery and the rise of increasingly repressive social control systems, but inevitably set these precarious tendencies of modern (...) political economy on a collision course liable to culminate in an unprecedented human and environmental catastrophe. Safronov explores the core themes of Nietzsche’s political economy—debt, slavery, and the division of labour—with reference to the influential views of Adam Smith and Karl Marx, as well as against the backdrop of the Long Depression (1873–1896), the first truly international crisis of industrial capitalism, during which most of Nietzsche’s work was completed. -/- In Nietzsche’s assessment, modern political economy is predicated on the valuations that diminish humankind’s prospects and harm the planet’s future by consistently enfeebling the present, as long as there is profit to be made from it. Nietzsche’s critical insight, which challenges the most fundamental tenet of modern economics and finance, is that in order to build a stronger and intrinsically more valuable future in lieu of simply speculating on it, as though the liberal Promised Land could descend upon us like the manna from heaven at the wave of an invisible hand [of the market], it is necessary to walk from the future we dare to envisage resolutely back to the present we inhabit to determine what demands achieving such a vision would impose upon us, instead of embellishing the ‘here and now’ by cynically discounting the future to the [net] value of the present while disparaging, disowning and rewriting the past to unburden ourselves of its troubling legacy, as we continue to frivolously squander its capital to the alluring tunes of the ‘sirens who in the marketplace sing to us of the future’. The enabling mechanism for changing our valuing perspectives, Nietzsche tells us, lies dormant in us and it must be unlocked before it is too late. (shrink)

Drawing on current debates at the frontiers of economics, psychology, and political philosophy, this book explores the challenges that arise for liberal democracies from a confrontation between modern technologies and the bounds of human rationality. With the ongoing transition of democracy's underlying information economy into the digital space, threats of disinformation and runaway political polarization have been gaining prominence. Employing the economic approach informed by behavioral sciences' findings, the book's chief concern is how these challenges can be addressed (...) while preserving a commitment to democratic values and maximizing the epistemic benefits of democratic decision-making. The book has two key strands: it provides a systematic argument for building a behaviorally informed theory of democracy; and explores how scientific knowledge on quirks and bounds of human rationality can inform the design of resilient democratic institutions. Drawing these together, the book explores the centrality of the rationality assumption in the methodological debates surrounding behavioral sciences as exemplified by the dispute between neoclassical and behavioral economics; the role of rationality in democratic social choice; behaviorally informed paternalism as a response to the challenge of irrationality; and non-paternalistic avenues to increase the resilience of the democratic institutions towards political irrationality This book is invaluable reading for anyone interested in behavioral economics and sciences, political philosophy and the future of democracy. (shrink)

This article seeks to investigate the integration between political economy and religion offered in the forum Religion of Twenty (R20). The idea of R20 forum by Nahdlatul Ulama (NU) is one of the ideas to unite perceptions between countries and religions. It is based on the phenomenon of the global economy which has begun to be disrupted by conflicts and wars in several countries. Various wars by the superpowers have had implications for disrupting economic stability. Thus, the role of (...) religion in terms of world peace also contributes to the success of global economic stability. In further analysis, this article refers to Ibn Khaldun, Al-Ghazali, Adam Smith, David Ricardo, and John Stuart Mill’s political economy to answer how is the relationship between religion and world peace in economic development? And what role does the R20 forum play in integrating political economy and religion for global economic development? The findings in this article indicate that the sources of political economy in R20 are a means of integrating its patterns in line with the values and essence of religious teachings. (shrink)

This chapter contains sections titled: Introduction Recent History and Politics The West: Politics, Economy and Technology Nationalism, Modernization and Westernization Conclusion.

La tradition éthique en économie politique a été régénérée par l’Ecole de Salamanque, mais nous ne sommes pas habitués à associer le libéralisme aux scholastiques qui avaient élaboré une théorie du juste prix de validité universelle. Le marché a perdu sa dimension morale avec le rationalisme et, non dans une moindre mesure, à travers le biais religieux de la théorie de la valeur travail. Quand elle fut redécouverte en tant qu’origine véritable de la valeur, l’utilité ne recouvrit pas sa portée (...) morale, en raison du traitement mathématique qu’on lui réserva. Le rationalisme a supprimé toute conception d’évolution sociale en même temps qu’il a favorisé l’intervention. Cependant, dans cette ère de corruption, un retour à l’acception de sens commun des prix requiert, selon l’auteur, le franchissement d’une étape supplémentaire, celui de maintenir l’ancrage éthique du juste prix ou du prix du marché.The ethical tradition in political economy was regenerated by the School of Salamanca, but we are not used to associating liberalism with these Scholastics who built a theory of the just price with universal validity. The market lost its moral dimension with rationalism, not least through the religious bias of the labor theory of value. When rediscovered as the correct source of value, utility did not regain its former moral significance because of mathematical treatment. Rationalism has suppressed any concept of social evolution while promoting intervention, but, in the age of corruption, a return to the common sense of prices, the author argues, requires the further step of upholding the ethical standards of the just price or market price. (shrink)

The transition economy of Vietnam enjoyed remarkable achievements in the first 20 years of economic renovation (Doi Moi) from 1986 to 2006. Notably, the economy grew at an average annual rate of 7.5% in 1991-2000 period. Vietnam’s Amended Constitution 1992 recognized the role of private sector in the economy. U.S.-Vietnam Trade Bilateral Agreement (US-BTA) was signed in 2001. The country's stock market made debut trading in 2000. Vietnam became a member of Association of Southeast Asian Nations (ASEAN) in 1995, then (...) proceeded to full membership of the World Trade Organization in 2007, following which registered foreign direct investment (FDI) reached an all-time high of US$71.7 billion in 2008. Together with the impressive economic achievements, Vietnam also saw its diplomatic and political status constantly improved in the international arena. The country has established diplomatic relations with more than 170 countries in the world, strategic partnerships with 12 important economies, both developed and emerging, namely China, Japan, Russia, India, England, France, North Korea, Italy, Germany, Indonesia, Malaysia and Thailand. The country also successfully hosted important events including the Asia Pacific Economic Cooperation (APEC) in 2006. (shrink)

Many worry that global warming may produce dire consequences not just for humankind, but for many other living organisms on the planetEarth. This has raised concerns about the desirability of the political and economic policies that brought us to this point in history, a period of markedly higher levels of consumptionConsumption that produce higher levels of CO2. That, in turn, has raised new concerns about the ideologies and theoretical paradigms upon which such political and economic policies are based. (...) Many now call for a rejection of free marketFree Market economies to make room for more centrally planned economic systems. Even the idea of Homo EconomicusHomo Economicus – the primary actor in the modern free marketFree Market economy – is under fire in favor of a new conceptualization of the primary actor: Homo CuratorHomo Curator. This essay explains why these changes are both unnecessary and dangerous. I argue they are unnecessary by showing: (1) Homo Economicus and excessive consumptionConsumption are not the root of the problem, and (2) how the theory of market failure already gives us proven means to address problems like global warming. I argue that abandoning Homo Economicus and the free marketFree Market economy is dangerous because it will inevitably lead to a world that is far less likely to support individual and collective human flourishing; one that poorer, less free, and less respectful of the sanctity of the individual. (shrink)

Recent decades have witnessed both a renewed energy in feminist activism and widespread attacks taking back hard-won rights. Despite powerful feminist movements, the Covid-19 pandemic has significantly undermined the progress women have struggled for decades to achieve; how can this be? What explains this paradox of a strong feminist movement coexisting with stubborn patriarchal arrangements? How can we stop the next global catastrophe initiating a similar backlash? This book suggests that the shortcomings of social theory prevent feminist strategies from initiating (...) transformative changes and achieving permanent gains. It investigates the impact of theoretical shortcomings upon feminist strategies by engaging with two clusters of work: ungendered accounts of capitalist development and theories on gendered oppression and inequality. Decentring feminist theorising grounded in histories and developments of the global North, the book provides an original theory of the patriarchal system by analysing changes within its forms and degrees as well as investigating the relationship between the gender, class and race-ethnicity based inequalities. Turkey offers a case that challenges assumptions and calls for rethinking major feminist categories and theories thereby shedding light on the dynamics of social change in the global South. The timely intervention of this book is, therefore, crucial for feminist strategies going forward. The book emerges at the intersections between Gender, International Development, Political Economy, and Sociology and its main readership will be found in, but not limited to these disciplinary fields. The material covered in this book will be of great interest to students and researchers in these areas as well as policy makers and feminist activists. (shrink)

This study examines the theory of media systems and the models offered by Hallin and Mancini (2004) by focusing on critical junctures in which changes occur. Based on critical political economy and historical institutionalism, we analyzed the Israeli media system transition in the 1980s and early 1990s, seeking to understand the nature of this change and its theoretical implications. Our findings show a combination of government, market, and public forces in a unique situation where political, economic, and social (...) circumstances change. Accordingly, we conclude that a distinction between politics and economy, as the media system theory and, specifically, the liberal model suggests, is invalid under neoliberalism. We argue that research attention should be paid to critical junctions, and that a closer analysis of government and market interrelations can enrich theories of media systems. (shrink)

This paper argues that Milonakis and Fine, in their bookFrom Political Economy to Economics, offer an account of history that systematically omits discussion of how economics has been shaped by the political and social context in which it developed. This contrasts with work by intellectual historians who have argued that such factors were crucial to understanding the history of economic ideas. It is ironic given that Milonakis and Fine are criticising economists for excluding the political and the (...) social from economics. (shrink)

A Political Economy of Power is a comprehensive and contextualized account of ordoliberalism in English. It eliminates a long-standing deficit in the historiography of economics. The book has five...

This article addressed historical aspects of the political economy involving sustained forest ecology in Sierra Leone as a whole, with emphasis on the Freetown Peninsula and its surrounding communities. Attention is paid to cultural, social and economic aspects involving forest livelihoods of residents on the Freetown Peninsula and far afield. The term 'Political Economy' is used in this situation to denote the relationship between the economics of people's livelihoods and public policy (in relation to the management of legislative (...) procedures) in ensuring that resources in the forest environment is sustainably managed to cater for the livelihood needs of people in Sierra Leone, while at the same time maintaining a balance in protecting the forest ecosystems. The paper has provided a critical review of the political economy of forest ecology in the country on the basis of scholarly discourses, and its applicability in adapting to the fragile political administrative management Sierra Leone have (and is continuing to) experienced. (shrink)

The sexual division of labor and the social and economic value of women’s work in the home has been a problem that scholars have struggled with at least since the advent of the “second wave” women’s movement, but it has never entered into the primary discourses of political science. This paper argues that John Stuart Mill’s Political Economy provides innovative and useful arguments that address this thorny problem. Productive labor is essential to Mill’s conception of property, and property (...) was vital to women’s independence in Mill’s view. Yet since Mill thought most women would choose the “career” of wife and mother rather than working for wages, then granting that work productive status would provide a radical and inventive foundation for women’s equality. Mill, however, is ambiguous about the productive status of domestic labor, and is thereby representative of a crucial failure in political economic thought, as well as in egalitarian liberal thought on gender. But because Mill at the same time develops a conception of production that goes well beyond the narrow limits offered by other prominent political economists, he offers contemporary political scientists and theorists a way to rethink the relationship of reproductive to productive labor, the requirements for gender equality, and the accepted categories of political economy. (shrink)

This short essay presents the case for a renewed research agenda in STS focused on the political economy of technoscience. This research agenda is based on the claim that STS needs to take account of contemporary economic and financial processes and how they shape and are shaped by technoscience. This necessitates understanding how these processes might impact on science, technology and innovation, rather than turning an STS gaze on the economy.

This paper takes what has been termed the “epidemic of obesity” as the point of departure to examine the way in which political economic factors intersect with diet and nutrition to determine adverse health outcomes. The paper proposes several concepts to better understand the dynamics of the “foodscape” – institutional sites for the merchandising and consumption of food. These include the concepts of “spatial colonization” and “pseudo foods.” With a focus on critical dimensions of the contemporary “foodscape,” principally supermarket (...) merchandising practices, as well as trends in other food vending operations, the paper explores incentives that motivate capital to “spatially colonize” the foodscape with aggressively promoted high fat/high sugar “pseudo foods.” The paper reports on extensive research on trade industry publications as well as data collected through onsite investigations of supermarket practices of the three largest Canadian retail supermarket operations. In addition, current merchandising practices of convenience chain store operations and some non-traditional food vending sites are examined. In concluding, it is argued that the rapidly evolving interdisciplinary debate around the obesity crisis would benefit considerably from the insights to be gained from political economic analysis of retail food industry practices and trends. (shrink)

A Political Economy of Power is a comprehensive and contextualized account of ordoliberalism in English. It eliminates a long-standing deficit in the historiography of economics. The book has five...

Online technologies enable vast amounts of data to outlive their producers online, thereby giving rise to a new, digital form of afterlife presence. Although researchers have begun investigating the nature of such presence, academic literature has until now failed to acknowledge the role of commercial interests in shaping it. The goal of this paper is to analyse what those interests are and what ethical consequences they may have. This goal is pursued in three steps. First, we introduce the concept of (...) the Digital Afterlife Industry, and define it as an object of study. Second, we identify the politico-economic interests of the DAI. For this purpose, we develop an analytical approach based on an informational interpretation of Marxian economics. Third, we explain the practical manifestations of the interests using four real life cases. The findings expose the incentives of the DAI to alter what is referred to as the “informational bodies” of the dead, which in turn is to be seen as a violation of the principle of human dignity. To prevent such consequences, we argue that the ethical conventions that guide trade with remains of organic bodies may serve as a good model for future regulation of DAI. (shrink)

It has been more than sixty years since R. D. Collison Black published his Economic Thought and the Irish Question, a book which ever since has been widely regarded as a classic in the history of e...

Economics has become a monolithic science, variously described as formalistic and autistic with neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new major work of critical recollection. The authors show how economics was once rich, diverse, multidimensional and pluralistic, and unravel the processes that lead to orthodoxy’s current predicament. The book details how political economy became economics through the desocialisation and the dehistoricisation of the dismal science, accompanied by the separation of economics from the (...) other social sciences, especially economic history and sociology. It is argued that recent attempts from within economics to address the social and the historical have failed to acknowledge long standing debates amongst economists, historians and other social scientists. This has resulted in an impoverished historical and social content within mainstream economics. The book ranges over the shifting role of the historical and the social in economic theory, the shifting boundaries between the economic and the non-economic, all within a methodological context. Schools of thought and individuals, that have been neglected or marginalised, are treated in full, including classical political economy and Marx, the German and British historical schools, American institutionalism, Weber and Schumpeter and their programme of Socialökonomik, and the Austrian school. At the same time, developments within the mainstream tradition from marginalism through Marshall and Keynes to general equilibrium theory are also scrutinised, and the clashes between the various camps from the famous Methodenstreit to the fierce debates of the 1930s and beyond brought to the fore. The prime rationale underpinning this account drawn from the past is to put the case for political economy back on the agenda. This is done by treating economics as a social science once again, rather than as a positive science, as has been the inclination since the time of Jevons and Walras. It involves transcending the boundaries of the social sciences, but in a particular way that is in exactly the opposite direction now being taken by "economics imperialism". Drawing on the rich traditions of the past, the reintroduction and full incorporation of the social and the historical into the main corpus of political economy will be possible in the future. (shrink)

The Political Economy of European Social Democracy Content Type Journal Article Category Review Pages 529-531 DOI 10.1558/jcr.v11i4.529 Authors Peter Nielsen, Roskilde University, Universitetsvej 1, P.O. Box 260, 4000 Roskilde, Denmark Journal Journal of Critical Realism Online ISSN 1572-5138 Print ISSN 1476-7430 Journal Volume Volume 11 Journal Issue Volume 11, Number 4 / 2012.

The Political Economy of Terrorism presents a widely accessible political economy approach to the study of terrorism. It applies economic methodology – theoretical and empirical – combined with political analysis and realities to the study of domestic and transnational terrorism. In so doing, the book provides both a qualitative and quantitative investigation of terrorism in a balanced up-to-date presentation that informs students, policy makers, researchers and the general reader of the current state of knowledge. Included are historical (...) aspects, a discussion of watershed events, the rise of modern-day terrorism, examination of current trends, the dilemma of liberal democracies, evaluation of counterterrorism, analysis of hostage incidents and much more. The new edition expands coverage of every chapter, adds a new chapter on terrorist network structures and organization, accounts for changes in the Department of Homeland Security and the USA Patriot Act and insurance against terrorism. Rational-actor models of terrorist and government behavior and game-theoretic analysis are presented for readers with no prior theoretical training. Where relevant, the authors display graphs using data from International Terrorism: Attributes of Terrorist Events, the Global Terrorism Database, and other public-access data sets. (shrink)

This book develops a new conception of political economy at the interface of economic and political theory. Political economy is constituted by the interdependence between the economy and the polity that rest on the complex relations of society in which both are embedded. Effective policymaking depends on reflecting this embedding.

While there had been much radical thought before John Stuart Mill, Joseph Persky argues it was Mill, as he moved to the left, who provided the radical wing of liberalism with its first serious analytical foundation, a political economy of progress that still echoes today. A rereading of Mill's mature work suggests his theoretical understanding of accumulation led him to see laissez-faire capitalism as a transitional system. Deeply committed to the egalitarian precepts of the Enlightenment, Mill advocated gradualism and (...) rejected revolutionary expropriation on utilitarian grounds: gradualism, not expropriation, promised meaningful long-term gains for the working classes. He endorsed laissez-faire capitalism because his theory of accumulation saw that system approaching a stationary state characterized by a great reduction in inequality and an expansion of cooperative production. These tendencies, in combination with an aggressive reform agenda made possible by the extension of the franchise, promised to provide a material base for social progress and individual development.The Political Economy of Progress goes on to claim that Mill's radical political economy anticipated more than a little of Marx's analysis of capitalism and laid a foundation for the work of Fabians and other gradualist radicals in the 20th century. More recently, modern philosophic radicals, such as Rawls, have deep links to this Millean political economy. These links are still worthy of development. In particular, a politically meaningful acceptance of Rawls's radical liberalism waits on a movement capable of re-engineering the workplace in a manner consistent with Mill's endorsement of worker management. (shrink)

International agencies have contributed significantly to the promotion of capital-intensive fisheries development programs in many Third World nations. Activities of both bilateral and multilateral development assistance agencies are examined and shown to have certain common features, notably production-oriented programs typified by the introduction of powerful new fishing technologies, and the promotion of fishery exports as a means of increasing foreign exchange earnings. The argument is advanced that these programs have been largely detrimental to the best interests of recipient nations because (...) they have ignored both resource limitations and the distributional consequences of such development.Fisheries development programs in the Third World are seen as being shaped by a convergence of institutional and class interests between national and international agencies. The perspective of political economy is used to examine these interests and explain their relation to policy outcomes. Evidence is presented to show that international agencies have contributed to dualistic patterns of industry growth which have skewed development benefits towards a narrow urban elite. Rural small-scale fishers have been increasingly marginalized as a result of their inability to compete over a limited and, in some cases, depleted resource.Fisheries development and resource management need to be seen as complementary aspects of a single process rather than as separate activities. Central to fisheries management is the question of resource allocation between competing users. Suggestions are offered by which international development agencies can play an important role in encouraging resource use patterns which are both biologically sustainable and socially just. (shrink)

Anita Chari revives the concept of reification from Marx and the Frankfurt School to spotlight the resistance to neoliberal capitalism now forming at the level of political economy and at the more sensate, experiential level of subjective transformation. Reading art by Oliver Ressler, Zanny Begg, Claire Fontaine, Jason Lazarus, and Mika Rottenberg, as well as the politics of Occupy Wall Street, Chari identifies practices through which artists and activists have challenged neoliberalism's social and political logics, exposing its inherent (...) tensions and contradictions. (shrink)

In this article, I show that Hegel’s philosophical articulation of the family is inextricably bound to his engagement with political economy by focusing on three central aspects of his theory of the family. Firstly, I analyze how Hegel construes the family as a historically distinct social dispositif and constitutive element of the modern order of property. I argue that Hegel’s construction of the family and its place in the modern order of property is not only gendered but also racialized. (...) Secondly, I focus on Hegel’s articulation of the nexus between the family and civil society and his critical diagnosis of the structural problems that result from it. Thirdly, I discuss Hegel’s concept of labor and the political-epistemic limitations of his problematization of civil society, which are bound to it. I draw attention to three aspects, namely the confinement of the concept of labor to civil society, Hegel’s rearticulation of the gendered matter/form distinction, and the relation between Hegel’s economic notion and speculative usage of “labor.” Finally, I consider briefly how a critical reading of Hegel’s articulation of the political economy of the family can provide productive insights for a multidimensional theory of the family today. (shrink)

This article explores the implications of the emerging new players in the global arena of telenovelas. Latin American telenovelas have had phenomenal success in the post-communist countries of Eastern Europe. There has been an effort to localize the genre of telenovelas in some of those countries. The Croatian case emerges as a specific example because of its recent trend in the domestic production of telenovelas. Studying the political-economic aspect of this imported genre by examining debates surrounding the domestically produced (...) Villa Maria could help us understand some of the logic of the global media flow. Given the commercial development of broadcasting and the subsequent rise of U.S.- and Latin American-produced fiction, this article is an analysis of the political-economic and globalization debates that emerged in the Croatian press around domestically produced telenovela Villa Maria. (shrink)

This book presents a positive account of Aristotle's theory of political economy, arguing that it contains elements that may help us better understand and resolve contemporary social and economic problems. The book considers how Aristotle's work has been utilized by scholars including Marx, Polanyi, Rawls, Nussbaum and Sen to develop solutions to the problem of injustice. It then goes on to present a new Social Welfare Function as an application of Aristotle's theory. In exploring how Aristotle's theories can be (...) applied to contemporary social welfare analysis, the book offers a study that will be of relevance to scholars of the history of economic thought, political theory and the philosophy of economics. (shrink)

Ben Fine and Dimitris Milonakis have done political economy a great service by drawing attention to the insights lost in the twists, turns and reductions in the transition from political economy to economics. These two volumes constitute a solid foundation upon which a new generation can build a political economy for the future. This review presses some of their meta-theoretical arguments a little further than they actually do in an attempt to ‘toughen-up’ the new political economy (...) and make it more able to carry the fight to economics. (shrink)

The Morphogenetic Régulation approach (MR) contributes to the Morphogenetic Approach by explaining the material and ideational origins of change and stasis in agency, structure, and culture. In this paper, we focus on the expressive quality of ideas and systemic persistence in three research projects. The first demystifies inclusive governance and its adverse impacts. It shows how, contrary to institutions of governance, inclusiveness is not simply a norm but actually the explication of corporate agents’ ideas about rational choice institutionalism which leads (...) to adverse impacts on vulnerable groups and ecologies known as adverse inclusion. The second investigates the role of ideas as adequacy and self-explication in guiding Palestinian actors’ actions towards the deepening of neoliberalization in Palestine. The third explains the relevance of the systemic persistence problematique for understanding how three juxtaposed themes – Web2, Web3, and Artificial Intelligence (AI) – are shaping the political economy and infrastructure of the Internet. (shrink)

Evolutionary Social Theory and Political Economy traces the origins, extension, marginalization, and revival of evolutionary approaches to social theory from the Enlightenment through the beginning of the 21st century. It demonstrates how changes in understandings of social evolution corresponded to changes in definitions of Political Economy and how both reflected changes in the Philosophy of Science. The book is written for students and researchers alike in all the social sciences. Economists will benefit from understanding how ideas about evolution (...) in Economics corresponded to ideas about evolution in other social sciences and Social Scientists outside of Economics will benefit from understanding how Economics has related to their discipline. (shrink)

The rise in world prices of natural resources, coupled with the resource discoveries induced by high prices, is transforming Africa's opportunities. The economic future of Africa will be determined by whether this opportunity is seized or missed. The history of resource extraction in Africa is not encouraging. This paper reviews and develops the political economy of natural resources as a guide to how Africa might avoid a repetition of that history.

In an effort to improve comparability between socially responsible investment products and standardize investment terminology, Australian legislators recently required investment managers to report to retail investors the extent to which 'social considerations' are used in portfolio construction. Using a lens of political economy, this paper assesses whether the objectives of the legislation to standardize investment terminology, promote inter-product comparability and encourage the accountability of product claims have been met. The context of legislative development is examined in Australian Parliamentary debates. (...) Practised accountabilities are identified by examining a representative sample of the initial set of regulated disclosures issued. The quality of regulated information disclosures is assessed by the degree of correlation with legislators' objectives and the regulatory requirements. Initial disclosures were poor, providing little basis for comparability. In some instances, the quality of information had declined relative to the information supplied on a voluntary basis before the legislation took effect. The evidence supports a criticism of a regulatory laissez faire approach to self-reporting and an argument for more directed regulation of management processes. (shrink)

Science and technology policy is both faced by unprecedented challenges and itself undergoing seismic shifts. First, policy is increasingly demanding of science that it fixes a set of epochal and global crises. On the other hand, practices of scientific research are changing rapidly regarding geographical dispersion, the institutions and identities of those involved and its forms of knowledge production and circulation. Furthermore, these changes are accelerated by the current upheavals in public funding of research, higher education and technology development in (...) the wake of the economic crisis. The paper outlines an agenda for science & technology policy studies in terms of a research programme of a ‘cultural political economy of research and innovation’ (CPERI). First, the implications of the overlapping crises for science policy analysis are discussed. Secondly, three rough constellations of contemporary approaches to science policy are critically compared, namely: a techno-statist Keynesian governance; a neoliberal marketplace of ideas; and co-productionist enabling of democratic debate. CPERI is then introduced, showing how it builds on the strengths of co-production while also specifically targeting two major weaknesses that are of heightened importance in an age of multiple crises, namely neglect of political economy and the concept of power. (shrink)

Why was Wollstonecraft's landmark feminist work, the Vindication of the Rights of Woman, categorised as a work of political economy when it was first published? Taking this question as a starting point, Mary Wollstonecraft and Political Economy gives a compelling new account of Wollstonecraft as critic of the material, moral, social, and psychological conditions of commercial modernity. Offering thorough analysis of Wollstonecraft's major writings - including her two Vindications, her novels, her history of the French Revolution, and her (...) travel writing - this is the only book-length study to situate Wollstonecraft in the context of the political economic thought of her time. It shows Wollstonecraft as an economic as much as a political radical, whose critique of the emerging economic orthodoxies of her time anticipates later Romantic thinkers. This title is part of the Flip it Open Programme and may also be available Open Access. Check our website Cambridge Core for details. (shrink)

This chapter contains sections titled: American Liberalism The Constitutional System Federal Patronage Looking Forward.

Orthodoxy maintains that Jean-Baptiste Say was a liberal political economist and the French disciple of Adam Smith. This article seeks to question such an interpretation through an examination of Say's early writings, and especially the first edition of his famous Traite d'economie politique (Paris, 1803). It is shown that Say was a passionate republican in the 1790s, but a republican of a particular kind. Through the influence of the radical Genevan exile Etienne Claviere, Say became convinced that only a (...) republican constitution would protect the gains of the Revolution. Furthermore, the foundation of a successful republic lay in the pursuit of specific virtuous manners, and in particular independence, equality, frugality and industriousness. Although in 1803 Say turned against supporters of republican constitutions he continued to demand the reformation of manners. His ultimate vision was a science of political economy which would foster republican manners, by instructing both legislators and the general populace. (shrink)

For many years International Political Economy (hereafter IPE) was something of a misfit in the study of international politics in particular and political science – indeed, in the social sciences in general. It was never at ease with the economist, for whom it was not ‘real economics’; it was far too ‘economistic’ for scholars of international relations; too ‘international’ for scholars of political science; and largely unnoticed by normative political philosophy. As a consequence, it tended to (...) sit at the periphery of most social science ‘disciplines’. For a range of reasons to be discussed in this com‐panion essay to political science, this situation has changed dramatically over the last two decades. IPE is now deemed more salient to the study of politics and international relations and even some branches of economics. Pertinently, the interactions between IPE and philosophy are becoming similarly important of late. (shrink)

To this day, there persists a widespread assumption that Adorno's references to Marx - and especially to Marx's critique of political economy - represent a relic from an early and short-lived stage of Adorno's theoretical development. On the basis of relevant and largely unpublished textual sources, this book refutes this thesis while showing that the centre of Adorno's critical theory of society is occupied by a critique not only of political economy, but of economy in general.

This article aims to show the importance of the vampire metaphor to Marx's work. In so doing, it challenges previous attempts to explain Marx's use of the metaphor with reference to literary style, nineteenth-century gothic or Enlightenment rationalism. Instead, the article accepts the widespread view linking the vampire to capital, but argues that Marx's specific use of this link can be properly understood only in the context of his critique of political economy and, in particular, the political economy (...) of the dead. (shrink)

The relationship between Adam Smith's official methodology and his own actual theoretical practice as a social scientist may be grasped only against the background of the Humean project of a Moral Newtonianism. The main features in Smith's methodology are: (i) the provisional character of explanatory principles; (ii) 'internal' criteria of truth; (iii) the acknowledgement of an imaginative aspect in principles, with the related problem of the relationship between internal truth and external truth, in terms of mirroring of 'real' causes. Smith's (...) Newtonian (as opposed to Cartesian) methodology makes room for progress in social theorizing in so far as it allows for a decentralization of the various fields of the Moral Science, contributing to the shaping of political economy. On the other hand, the Cartesian legacy in Smith's Newtonian methodology makes the relationship between phenomena and theoretical principles highly problematic. (shrink)

This article analyses the political economy of the image today, a historical conjuncture in which art contributes its meanings (even its critiques and negations) to a process of socialization through consumption. This analysis is pursued in light of the reception of an idea of the image drawn from a world before capitalism – or certainly on the edge of capitalism and modernity – as found in Novalis’s unfinished and posthumous novel Henry von Ofterdingen of 1802.