Synopses & Reviews
This reader combines in a single volume the key writings of classical and contemporary thinkers on political economy. The articles provide both a theoretical approach to understanding capitalism and a survey of the varieties of capitalism around the world today, examining the interaction between politics and markets both in theory and practice.
Drawing on history, economics, political science and sociology, it emphasizes the ways in which markets are embedded in and influenced by political and social institutions. Steven K. Vogel and Nazneen Haider Barma provide an informative overview of a number of the most significant controversies and contemporary debates in political economy through the selections of contending perspectives on a variety of issues, including:
- How can rich countries make their economies more competitive?
- How can poor countries achieve economic development?
- How can post-communist countries make a successful transition to markets?
- Will the information technology revolution render the national varieties of capitalism obsolete?
- Does globalization imply that the national varieties of capitalism will converge to one global capitalism?
A Political Economy Reader will be an essential resource for students of political economy and economic sociology.
Synopsis
The Political Economy Reader combines in a single volume core writings on political economy from four social science disciplines: economics, political science, sociology, and history. Arguing that markets should be viewed as institutions that are deeply embedded in politics and society, editors Barma and Vogel combine a theoretical approach to understanding capitalism with analyses of real-world market systems around the world today.
The Reader first lays the conceptual groundwork, covering transaction costs, property rights, corporate governance systems, power relationships, social networks and cultural norms, and then turns to real-world practices and reforms. Contemporary debates focus on deregulation in advanced industrial countries, privatization in transitional economies, and liberalization in developing countries. The volume concludes with selections on the information technology revolution and globalization.