This Handbook provides an overview of established and cutting-edge contributions to political economic thought. Chapters by leading and emerging scholars showcase the diverse approaches and productive debates among researchers.
Separate sections of the book deal with political economy as an area of knowledge, its principal theoretical traditions, the dynamics and socio-ecological foundations of economic systems, and political economys interdisciplinary connections. Thirty-two chapters cover the full spectrum of contemporary political economy, including classical, Marxist, post-Keynesian, institutional, evolutionary, and feminist approaches, recent studies of capital as power, modern money theory, behavioural economics, social structures of accumulation, and race, gender and class. The volume concludes by reflecting on how these theories of political economy can contribute to making a better world.
Pluralist and interdisciplinary in its approach, this Handbook is a key resource for students and teachers of political economy and heterodox economics, as well as for other social scientists wanting to understand political economic processes.
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Mainstream economics, relative to heterodoxy and social science generally, is so extreme in methodology, theory and conceptualisations, it has spawned a variegated tsunami of alternative theories. This volume expertly and comprehensively engages this pluralism across schools, approaches and topics offering specialist insights alongside informative expositions imperative reading for the intellectually open. -- Ben Fine, School of Oriental and African Studies (SOAS), UK Narrowly defined mainstream economics has clearly failedafter the Second Great Depression and in the midst of the Pandemic Depression, in addition to obscene and still-growing levels of inequality, the climate crisis, racial capitalism, and much else. This Handbook of Alternative Theories of Political Economy is exactly what is needed to expand the way we think about and do economics. -- David F. Ruccio, University of Notre Dame, US This excellent collection is a must-read book for anyone interested in learning more about political economy. The volume has been effectively organized with an inclusive approach that is not only pluralist but also interdisciplinary. The upshot of which is the facilitation of a broad, yet rigorous, understanding of political economy. -- Susanne Soederberg, Queens University, Canada
Contents:PART I POLITICAL ECONOMY AS AN AREA OF KNOWLEDGE1 Introduction to the Handbook of Alternative Theories of Political Economy 2Frank Stilwell, David Primrose and Tim B. Thornton2 Capitalism, climate change and freedom 16Elke PirgmaierPART II IDENTIFYING FOUNDATIONAL APPROACHES TOPOLITICAL ECONOMY3 Classical political economy and its ongoing relevance 33Jamie Morgan4 The Marxist tradition in political economy 51Bill Dunn5 Institutional political economy 66Arturo Hermann6 Post Keynesian economics 83John E. King7 Feminist political economy 96Jennifer Cohen and Heidi Hartmann8 Sraffian political economy 110Nuno Ornelas MartinsPART III ANALYSING THE DYNAMICS OF ECONOMIC SYSTEMS9 Circular and cumulative causation 126Phillip Toner and Gavan Butler10 Evolutionary political economy 140Tae-Hee Jo11 Neo-Schumpeterian economics 156Rinaldo Evangelista12 The regulation approach 173Brett Heino13 Social structures of accumulation 188Terrence McDonough and David M. Kotz14 Capital as power 201Tim Di Muzio and Matt Dow15 Foundations of modern money theory 216L. Randall Wray16 The Austrian school of economics 231Peter J. Boettke, Rosolino Candela, Karras J. Lambert and Dillon TauzinPART IV EXPLORING THE SOCIO-ECOLOGICAL FOUNDATIONSOF ECONOMIC SYSTEMS17 Polanyian political economy 246Joy Paton18 Georgist political economy 260Franklin Obeng-Odoom19 Ecological economics 271Neil Perry20 Social economics 286John B. Davis21 A social property relations approach to class, gender, race 301Andreas Bieler and Adam David Morton22 The Systems of Provision approach 313Robin Chang23 The diverse economies approach 329Jenny Cameron and J.K. Gibson-GrahamPART V EXTENDING POLITICAL ECONOMY THROUGHINTERDISCIPLINARITY24 Spatial political economy 344Brett Christophers25 Cultural political economy 355Bob Jessop and Ngai-Ling Sum26 Postcolonial and poststructural political economy 371Penny Griffin27 Behavioural economics and neuroeconomics 390David PrimrosePART VI MAKING A DIFFERENCE28 Pluralism in political economy 412Tim B. Thornton29 Economics imperialism and a transdisciplinary perspective 428Mario Cedrini and Joselle Dagnes30 Approaches to, and measures of, progress 443Pratistha Joshi Rajkarnikar31 Advancing education in political economy 458Frank Stilwell and Tim B. Thornton32 Progressive economics and social change movements 476Jim StanfordIndex
Edited by Frank Stilwell, Professor Emeritus, Department of Political Economy, University of Sydney, David Primrose, Academic Fellow, Menzies Centre for Health Policy and Economics, University of Sydney, Australia and Tim B. Thornton, Senior Research Fellow, Economics in Context Initiative, Global Development Policy Centre, Boston University, US
