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)

Le problème du conflit dans les relations interétatiques a donné lieu à un débat important en Economie Politique Internationale. L’école néolibérale, s’appuyant sur la théorie des gains absolus, a pris position pour la prééminence de la coopération entre les Etats, alors que les théoriciens néoréalistes, se fondant sur le concept de gain relatif, ont prédit une tendance au conflit. Une analyse critique de ces théories à partir des concepts fondamentaux de l’école autrichienne permet de montrer que les théories néolibérales et (...) néoréalistes sont trop optimistes quant à la qualité de leur prédiction. Cet article conteste en particulier le fort degré de généralité que les théories des deux écoles prétendent atteindre. Il faut donc soit redéfinir la notion de généralité, soit admettre une large indétermination dans la tendance des relations interétatiques, soit prendre un autre chemin théorique pour résoudre la problématique.Conflict in the inter-state relations gave rise to an important discussion in International Political Economy. The so-called neo-liberal school, leaning on the theory of absolute earnings, supported the thesis of cooperation between the States, while neo-realists’ theory is based on the concept of relative earnings and push forward the trend of conflict. A critical examination of these theories using the fundamental concepts of the Austrian School is able to show that the neo- liberal and the neo-realist theories are too much optimistic with regard to their predictive nature. The latter do not achieve the generality they pretend to have. The trend of the interstates relations should be admitedly indeterminate unless an alternative theoretical way is taken to solve the issue. (shrink)

It is erudite, broad-ranging, respectful of the actors involved, sympathetic, and nuanced. This is the first book of its kind."--Ronen Palan, University of Birmingham "I thoroughly enjoyed reading this book.

This book offers an intelligent and thought-provoking analysis of the genealogy of Western capitalist 'development'. Jennifer Beard departs from the common position that development and underdevelopment are conceptual outcomes of the Imperialist Era and positions the genealogy of development within early Christian writings in which the western theological concepts of sin, salvation, and redemption are expounded. In doing so, she links the early Christian writings of theologians such as Augustine and , Anselm and Abelard to the processes of modern identity (...) formation of which the West, the First World, the Rule of Law and the individual subject and his or her freedoms are but a part. The concept of development is thus identified within western culture as a symptom of loss within the desire for completion; as the logic behind the economic restructuring of nations as underdeveloped is revealed as that ruthless imaginary by which First World nations maintain their ideal of themselves. Drawing upon anthropology, economics, historiography, philosophy of science, theology, feminism, cultural studies and development studies, this book contains the best of interdisciplinary work in international law. (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)

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)

PurposeThis paper scrutinizes the impact of socioeconomic, political, legal and religious factors on the internal ethical values of human rights organizations worldwide. The authors aim to examine the Code of Ethics for 279 HROs in 67 countries and the social and legal settings in which they operate.Design/methodology/approachUsing the framework of protect, respect and remedy, the authors look for keywords that represent the human rights lexicon in these three areas. In the protection of human rights, the authors select the terms: (...) peace, transparency, freedom and security. For the respect of humans, the authors use the terms: dignity, equality, respect and rights. Sources of remedies come from justice and ethics. The analysis seeks to determine what political economy settings drive the ethical value choices of the organizations. Those choices are proxied by those keywords they mention in their Code of Ethics.FindingsThe analysis show that the scope of ethical values mentioned are higher when the HRO is in a country with more domestic violence, lower income inequality, French civil or Islamic legal origin and higher trust in politicians. In regard to the determinants of the ten keywords individually, the authors conclude that the status of the socioeconomic, political, religious and legal settings impact with local HROs mention each of the keywords: peace, justice, transparency, dignity, equality, ethics, respect, freedom, security and rights.Research limitations/implicationsThe analysis is based on HROs that have a webpage in English and list the employee Code of Conduct.Originality/valueThis study is the first to examine the Code of Ethics for HROs. The authors demonstrate that country-specific characteristics help to drive their internal ethical values. (shrink)

A friend, correspondent and intellectual successor to David Ricardo, John Ramsay McCulloch forged his reputation in the emerging field of political economy by publishing deeply researched articles in Scottish periodicals and the Encyclopaedia Britannica. From 1828 he spent nearly a decade as professor of political economy at the newly founded University of London, thereafter becoming comptroller of the Stationery Office. Perhaps the first professional economist, McCulloch had become internationally renowned by the middle of the century, recognised (...) for sharing his ideas through lucid lecturing and writing. The present reference work, first published in 1845, reflects McCulloch's extraordinarily wide reading across subjects relating to his field of expertise. Featuring sections on foundling hospitals and slavery, as well as money and prices, the bibliography is annotated throughout with McCulloch's frank assessments. Several other works written or edited by McCulloch are also reissued in the Cambridge Library Collection. (shrink)

In this paper, I aim to discuss New Political Economy as a label for the economic analysis of politics, in the English language. The term 'political economy' itself, although it has ceased to be the preferred term by which economists refer to their discipline, it is still being used by a variety of scholars, especially for interdisciplinary research with political science, international relations and other social sciences. Marxist- inspired social scientists also have a claim (...) on the term 'political economy'. The term gained relevance again with economists, in the 1950s, thanks to various critiques of orthodox economics, especially to the theory of economic policy and to economic planning. They ignored issues of political economy, such as the self- interest of politicians. The public choice movement revived these issues by applying rational choice theory to politics and preferred the label “public choice” to designate its movement. Scholars and traditions not affiliated with the public choice movement prefer the label '(new) political economy' to refer to their own economic analysis of politics. The search for a proper label is still ongoing, but they show how they can differentiate their objectives and affiliations. (shrink)

Contemporary political economy debates tend to assume that an increase in productivity automatically leads to an equal increase in workers’ wages. This assumption shapes the way that many scholars think about economic globalization, as well as domestic policy reforms. This assumption is particularly widespread in the field of international political economy, where it is implicitly incorporated through the use of neoclassical economic models. Rather than explore the distributional struggle between capital and labor, these models use (...) the assumption of full employment to predict that policies that increases worker productivity automatically leads to an equal increase in workers’ wages. In contrast, this article argues that the degree to which wages increase along with productivity depends on the domestic institutions that protect workers’ rights to act collectively. This article tests the relationship between worker productivity and wages by analyzing data from twenty-eight manufacturing industries, in 117 countries, from 1986 to 2002. The results demonstrate that the degree to which an increase in worker productivity leads to an increase in wages depends on a country’s level of protection for labor rights. (shrink)

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)

Based around a wide-ranging selection of real-life examples, this text focuses on how to make and explain "best choice" judgements in international business situations.

This paper is based on the Isaac and Tamara Deutscher Memorial-Prize Lecture given at SOAS in London, on 27 November 2009. It claims that Marxism remains built around a critique of political economy but lacks a parallel critique of international relations. IR naturalises the organisation of inter-state relations along lines comparable to the naturalisation of the capitalist economy by economics. The paper argues that the disciplinary organisation of Western academia is part of the class-discipline in society (...) at large. It was triggered by the abstraction of economics from the field of the broader social sciences. IR, in turn, was codified in the slipstream of Woodrow Wilson’s response to the Russian Revolution that followed on from the US-intervention in World-War I. The discipline was built around a founding myth of global liberalism and national self-determination. It served, among other things, to disqualify the claims of the theory of imperialism on disciplinary grounds, and its initial connections with Western hegemony, capital, and the national-security state remain in place today. Distinguishing modes of foreign relations, and specifying the occupation of space, protection, and exchange for tribal and empire/nomad foreign relations, as well as sovereign equality and global governance, on the other hand make it possible to understand the rise and continuing hegemony of the West in its own right, rather than as a superstructure of the transnationalisation of capital. (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)

A friend, correspondent and intellectual successor to David Ricardo, John Ramsay McCulloch forged his reputation in the emerging field of political economy by publishing deeply researched articles in Scottish periodicals and the Encyclopaedia Britannica. From 1828 he spent nearly a decade as professor of political economy at the newly founded University of London, thereafter becoming comptroller of the Stationery Office. Perhaps the first professional economist, McCulloch had become internationally renowned by the middle of the century, recognised (...) for sharing his ideas through lucid lecturing and writing. First published in 1825, this textbook was an expanded version of an article originally written in 1822 for the Encyclopaedia Britannica. Reissued here is the 1830 enlarged second edition. In Britain and America the work reached many students, and was translated into multiple European languages. Several other works written or edited by McCulloch are also reissued in the Cambridge Library Collection. (shrink)

This Article is made up of two parts. The first part reflects on the dominant functionalist approach to comparative consumer bankruptcy and suggests that this might be supplemented by a political economy analysis that addresses the role of national and international interest groups, including professionals, and ideology in understanding different national responses to overindebtedness in North America and Europe. The second part examines current reforms to consumer bankruptcy and responses to overindebtedness in the UK through this (...) class='Hi'>political economy lens and concludes that competition among professional groups, the role and interests of the Insolvency Service, and the ideology of the Third Way in consumer policy will influence the ultimate structure adopted for addressing consumer insolvency. A study of the English experience suggests that there is also an element of national path dependency to consumer insolvency reform that may resist pressures towards convergence of approaches between countries in addressing issues of consumer insolvency. (shrink)

I discuss how the scientificity characterizing Adam Smith’s political economy has to exteriorize social conflict in order to sustain its objectivation of social interaction in terms of regulative laws. I claim that this exteriorization constitutes an internal point of subversion, not only because it resists economic objectivation, but first and foremost because it forces Smith to employ political strategies that both contradict and guarantee the scientificity of his theory. I show how the place of conflict in modern (...) economy, according to Smith, can actually be determined in three different ways: as a concrete place when it comes to the confrontations between workers and capitalists; as a theoretical place in the sense of being an arbitrary disturbance of the spontaneous organization of the market; and as a place that, as being the intersection between economic naturalization and social contingency, problematizes the scientificity of Smith’s political economy. In this sense, I develop three cases where Smith invokes an argumentative circularity that reveals the paradoxical politics of his economic scientificity, beyond its official laissez-faire politics: State coercion, monetary power and capitalist competition. (shrink)

This paper explores the potential for an international political theory of care as an alternative to liberalism in the context of contemporary global politics. It argues that relationality and interdependence, and the responsibilities for and practices of care that arise therewith, are fundamental aspects of moral life and sites of political contestation that have been systematically denied and obfuscated under liberalism. A political theory of care brings into view the responsibilities and practices of care that sustain (...) not just ‘bare life’ but all social life, from nuclear and extended families to local, national and transnational communities. It disrupts and challenges the individualism of liberalism, and the associated valorization of ‘freedom’, ‘autonomy’, and ‘toleration’. Instead, it emphasizes an ontology of relationality and interdependence that accepts the existence of vulnerability without reifying particular individuals, groups or states as ‘victims’ or ‘guardians’. Furthermore, by demonstrating the gendered and raced nature of caring in the contemporary world—from the household to the transnational level—an international political theory of care challenges our received assumptions about ‘dependence’ in world politics, and opens up space to interrogate politically not only gender but race and other aspects of inequality in the global political economy. (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 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 understood as mirroring 'real' causes. Smith's Newtonian (as opposed (...) to Cartesian) methodology makes room for progress in social theorizing as it allows for a decentralization of the various fields of Moral Science, contributing to the shaping of political economy. On the other hand, the Cartesian legacy in Smith's Newtonian methodology makes the relationship problematic between phenomena and principles. (shrink)

Mark Pennington’s Robust Political Economy is a systematic exposition of a framework for analyzing institutional performance. The Robust Political Economy framework evaluates institutions according to their ability to solve knowledge and incentive problems. On grounds of robustness, Pennington combines insights from Austrian market-process theory and public-choice theory to defend classical liberalism from several compelling critiques. These include theories of market failure in economics; communitarian, deliberative-democratic, and liberal-egalitarian theories of justice; and concerns with social capital, domestic and (...) international poverty, and ecology. (shrink)

Issues of the ‘global commons’ have secured a prominent place in environmental discourse. The temperature-regulating functions of the global atmosphere and radiation control functions of stratospheric ozone offer clear examples of true public goods. Other environmental assets, such as biodiversity and forests, are treated as if they are public goods, but in reality are complex mixtures of private goods, local public goods and global public goods. The approach to the provision and protection of these goods has tended to focus on (...) the development of international agreements, such as those at the Rio de Janeiro ‘Earth Summit’ in 1992. But do these agreements contain the relevant incentives to conserve the global commons? Much depends on one's view of human nature. The Scottish economic tradition suggests that unless incentives focus on ‘self love’, as postulated by Hume and Smith, improvements will, at best, be marginal. A richer array of policy measures is obtained by analysing the potential for ‘global bargains’, trades that improve the environment whilst making each party better off. The souls of Hume and Smith surely approve recent developments in practical global bargains. (shrink)

The article provides an analysis of Georg Ludwig Schmid's ‘Reflexions sur l’Agriculture’, which was published as the first essay in the first issue of the publications of the Oeconomical Society of Berne, founded in 1759. Schmid connected the agricultural improvement movement of the time to the logic of international power competition that caused the 7 Years’ War and wished to preserve political economy as agronomy for the cause of peace and virtuous economic progress. In his essay on (...) commerce and luxury, he devised a patriotic political economy based on the notion of a marche naturelle, or a natural progress of opulence, which enabled statesmen and political economists to separate the productive from the pathological features of economic development, healthy and necessary growth from luxury. Adam Smith deployed a similar model in the Wealth of Nations but argued that Europe's retrograde development was so fundamental and comprehensive that it made it impossible to use this kind of natural progress model on its own as a meaningful guide for comprehensive economic and political reform. (shrink)

Written between 1857 and 1858, the Grundrisse is the first draft of Marx’s critique of political economy and, thus, also the initial preparatory work on Capital. Despite its editorial vicissitudes and late publication, Grundrisse contains numerous reflections on matters that Marx did not develop elsewhere in his oeuvre and is therefore extremely important for an overall interpretation of his thought. In this collection, various international experts in the field, analysing the Grundrisse on the 150th anniversary of its (...) composition, present a Marx in many ways radically different from the one who figures in the dominant currents of twentieth-century Marxism. The book demonstrates the relevance of the Grundrisse to an understanding of Capital and of Marx’s theoretical project as a whole, which, as is well known, remained uncompleted. It also highlights the continuing explanatory power of Marxian categories for contemporary society and its present contradictions. With contributions from such scholars as Eric Hobsbawm and Terrell Carver, and covering subject areas such as political economy, philosophy and Marxism, this book is likely to become required reading for serious scholars of Marx across the world. (shrink)

This article develops an interdisciplinary theoretical method for assessing the environmental values articulated and practised by dispersive or ‘mobile’ film production practices, aiming toward applicable strategies to make media practices more environmentally conscientious and sustainable. Providing a social and environmental study of the local relational values, political economy and ecosystem ramifications of runaway productions and film incentive programmes, this study draws on contemporary international green production practices as entryways into environmentally positive film industry change. Offering an overview (...) of the potential use of a relational values approach to media production cultures, the essay uses two opposing models (the Michigan film incentive and the underwater cinematography culture of South Florida) in order to assess the political dynamics, social consequences and environmental threats of Hollywood's mobile practices – as well as their potential as sites, beyond Hollywood, to converge environmental values with local media culture. (shrink)

International political economy identifies declining nominal interest rates, securitization, and financial liberalization as drivers of rising housing prices. Despite witnessing these common credit shocks, however, developed economies experienced divergent trends in housing inflation since the 1980s. We offer a comparative political economy explanation of variation in house prices, arguing that by restraining household incomes, wage-setting institutions can blunt financial liberalization’s inflationary impact on housing markets. Employing quantitative analysis and a comparative study of Ireland and the (...) Netherlands, we uncover two findings. First, countries where political coalitions in the export sector held veto powers over those in the nontraded sector in national wage setting realized lower housing inflation. Second, the impact of sectoral coalitions on housing prices in OECD countries is similar to that of financial variables. Our results suggest that the organization of labor politics continues to play an important role in mitigating the destabilizing effects of global finance on developed economies. (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)

This review-essay discusses the contributions to Ricardo Bellofiore’s bookRosa Luxemburg and the Critique of Political Economyin their respective historical and theoretical contexts. A key goal of the book is to establish Luxemburg’s work as a ‘macro-monetary class approach’, which means linking an economic outlook on effective demand and finance with a political focus on class-struggles in the domestic and international arenas. This approach marks a significant, and positive, departure from widespread interpretations that separate Luxemburg’s political theory (...) from her economic theory. Given the apparent limits of neoliberal globalisation it is also a very timely approach that can help us to understand the current conjuncture of economic and political crises. Bellofiore’s book offers a useful framework for such analysis but focuses much more on economic theory than on politics and the historical developments of global capitalism. To fully exploit the potential of Luxemburg’s political economy, complementary work on these latter two aspects has to be done. (shrink)

In the face of enduring crisis phenomena, quantitative evidence of the renewed salience of socio-economic agendas advanced by radical right populist parties calls for more qualitative research work and in-depth case studies. The present paper aims to contribute to filling this gap through a cultural political economy (CPE) investigation of the Italian League (Lega) party that foregrounds its socio-economic positioning by reconstructing the party’s ‘economic imaginary’. The suggested synergy between CPE and a critical discourse analysis of the League’s (...) practical argumentation in the 2013 and 2018 electoral manifestos points to a composite economic imaginary that prioritizes: 1) production (vs financialization); 2) support of internal demand; 3) lowering of fiscal pressure; 4) protectionism and 5) welfare. The analysis shows how, under Salvini’s leadership, the party’s practical argumentation in EU matters has become constitutive of its overall political strategy and so exacerbated the claims at the core of the respective economic imaginary. In this vein, the League’s Euroscepticism has also polarized the relationship between the party’s socio-economic and socio-cultural stance, thus urging to go beyond the focus on economic imaginaries and sketch out a CPE research agenda on the League’s more encompassing struggle for hegemony in the Italian political economy. (shrink)

Polarization in Western democracies and the collapse of centrally planned economies have led to calls for a redefinition of the state's core functions. This volume explores shifting conceptions of constitutional political economy anchoring the state from the viewpoints of theory, systems, and applications. It suggests why changes may be desirable and how these might be implemented. Part I addresses the writing of constitutions, the dynamic between constitutional order and civil society, the struggle between competitive and protectionist interests, the (...) conflict between protecting expectations and moral evolution, and the role of cultural explanations of constitutional development patterns. Part II explores the interplay between electoral systems and constitutional engineering, the internal costs of political coalitions, and campaigns in pluralistic elections. Part III investigates the quest for stable, dynamic federal states with particular attention to opportunities and pitfalls in Europe. With a foreword and contributions from Nobel Laureate James M. Buchanan. (shrink)

This essay argues that while the so-called "Hume's Early Memoranda" has long been regarded as Hume's juvenile work composed before A Treatise of Human Nature, there is significant internal and external evidence to the contrary. M. A. Stewart's recent thesis made a new attempt to move the period of composition to the early 1740s. I seek in the following essay to date the composition even later, in the latter half of the 1740s. Re-examined in this new light, the memoranda credibly (...) emerges as a work of preparation for Hume's political economy to be published as Political Discourses in 1752. Historical and biographical details thus reconstructed around the process of Hume's composition of the memoranda reveal the hitherto-unrecognized complexity with which Hume's economic thought was gradually formed in close and profound connections with his moral, political and historical thinking. (shrink)

This article contains an abstract of Dr. Sanjay Patnaik’s dissertation as well as a commentary essay on the research process in the appendix. In his dissertation, Dr. Patnaik examines the importance of the non-market environment for firm strategy and performance within the context of newly introduced regulations for greenhouse gases in Europe. The dissertation abstract contains a description of each dissertation chapter, including research questions, methodologies, and results. The commentary essay describes the author’s perspective on conducting research as an emerging (...) scholar. (shrink)

This article critically examines the origins and evolution of China’s unique land institutions and situates land policy in the larger context of China’s reforms and pursuit of economic growth. It argues that the Chinese Communist Party has strengthened the institutions that permit land expropriation—namely, urban/rural dualism, decentralized land ownership, and hierarchical land management—in order to use land as a key instrument of macroeconomic regulation, helping the CCP respond to domestic and international economic trends and manage expansion and contraction. Key (...) episodes of macroeconomic policymaking are analyzed, with the use of local and central documents, to show how the CCP relied on the manipulation and distribution of the national land supply either to stimulate economic growth or to rein in an overheating economy. China’s land institutions, therefore, share “complementarities” with fiscal and financial institutions and benefit powerful political actors while imposing costs on marginal ones. (shrink)

Since its hard-won independence from Pakistan, Bangladesh has been ravaged by economic and environmental disasters. Only recently has the country begun to emerge as a fragile, but functioning, parliamentary democracy. The story of Bangladesh, told through the pages of this concise and readable book, is a truly remarkable one. By delving into its past, and through an analysis of the economic, political and social changes that have taken place over the last twenty years, the book explains how Bangladesh is (...) becoming of increasing interest to the international community as a portal into some of the key issues of our age. In this way the book offers an important corrective to the view of Bangladesh as a failed state. (shrink)

Though a recent phenomenon, land grabs have generated considerable debate that remains highly polarized. In this debate, one view presents land deals as a path to sustainable and transformative rural development through capital accumulation, infrastructural development, technology transfer, and job creation while the alternative view sees land grabs as a new wave of neo-colonization, exploitation, and domination. The underlying argument, at least theoretically, is that international land deals unlock the much needed capital to accelerate the achievement of sustainable and (...) transformative rural development in developing countries. It is against this backdrop that this paper examines the contribution of large scale land deals in Malawi to rural development by employing the political economy perspective using the Limphasa Sugar Corporation as a case study with particular focus on the nature and interest of the actors involved; the legal framework supporting large scale land deals; major individual and community benefits; and the extent to which these large land deals can indeed bring about sustainable and transformative rural development. The findings of this article demonstrate that large scale land deals present short term benefits to local communities such as capital for rural development; technology transfer and job creation in exchange for the priceless economic and social capital that local people depend upon; destruction of local social systems; deepening of local communities’ vulnerability to economic shocks; and the entrenchment of community dependence that may in the long run result in social and political unrest. (shrink)

People obtain value, or gain utility, from procedures rather than merely from outcomes. Academic researchers are slowly and selectively coming to terms with this fact, but it is neither sufficiently nor widely appreciated by actors in Hong Kong’s political arena, whether at the center or on the periphery. The territory is grappling with the issue of democratic reform—both its pace and scope—but the heated exchanges between the proponents and the opponents of representative government are confined to the outcome utility (...) of the various constitutional proposals. It is essential to incorporate the procedural element into this incomplete picture. (shrink)