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This book examines how a society that is trapped in stagnation might initiate and sustain economic and political development. In this context, progress requires the reform of existing arrangements, along with the complementary evolution of informal institutions. It involves enhancing state capacity, balancing broad avenues for political input, and limiting concentrated private and public power. This juggling act can only be accomplished by resolving collective-action problems (CAPs), which arise when individuals pursue interests that generate undesirable outcomes for society at large. Merging and extending key perspectives on CAPs, inequality, and development, this book constructs a flexible...
In Collective Action and Exchange: A Game-Theoretic Approach to Contemporary Political Economy, William D. Ferguson presents a comprehensive political economy text aimed at advanced undergraduates in economics and graduate students in the social sciences. The text utilizes collective action as a unifying concept, arguing that collective-action problems lie at the foundation of market success, market failure, economic development, and the motivations for policy. Ferguson draws on information economics, social preference theory, cognition theory, institutional economics, as well as political and policy theory to develop this approach. The text uses classical, evolutionary, and epistemic game theory, along with basic social network analysis, as modeling frameworks. These models effectively bind the ideas presented, generating a coherent theoretic approach to political economy that stresses sometimes overlooked implications.
Few concepts have captured the imagination of the conflict and development community in recent years as powerfully as the idea of a 'political settlement'. At its most ambitious, 'political settlements analysis' (PSA) promises to explain why conflicts occur and states collapse, the conditions for their successful rehabilitation, different developmental pathways from peace, and how to better fit development policy to country context. Yet not all is well in the world of PSA. Rival definitions of the term abound, there are disagreements about its scope and the way it should be used, a growing schism between conflict specialists and economists, basic concepts are ambiguous and little progress ha...
This volume offers an original perspective on the questions the great economists have asked and looks at their significance for todays world. Written in a provocative and accessible style, it examines how the diverse traditions of political economy have conceptualised economic issues, events and theory. Going beyond the orthodoxies of mainstream economics it shows the relevance of political economy to the debates on the economic meaning of our times. Reconstructing Political Economy is a timely and thought-provoking contribution to a political economy for our time. In this light it offers fresh insights into such issues as modern theories of growth, the historic relations between state and market and the significance of globalisation for modern societies.
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Following an introduction to the key ideas of Coats, this work focuses on two themes: the difference between British and American economics, both in content and in the practice of the profession; and the interrelationships between economic ideas, events (or conditions) and policy issues.
Situating the French Revolution in the context of early modern globalization for the first time, this book offers a new approach to understanding its international origins and worldwide effects. A distinguished group of contributors shows that the political culture of the Revolution emerged out of a long history of global commerce, imperial competition, and the movement of people and ideas in places as far flung as India, Egypt, Guiana, and the Caribbean. This international approach helps to explain how the Revolution fused immense idealism with territorial ambition and combined the drive for human rights with various forms of exclusion. The essays examine topics including the role of smuggl...
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
This Major Reference series brings together a wide range of key international articles in law and legal theory. Many of these essays are not readily accessible, and their presentation in these volumes will provide a vital new resource for both research and teaching. Each volume is edited by leading international authorities who explain the significance and context of articles in an informative and complete introduction.