Political economy

{{Short description|Study of the development of social production}}

{{For multi|the study of political economy on an international level|International political economy|the study of political science through economic analysis|Public choice{{!}}Public choice theory|the effects of politics on the economy|Economic policy}}

File:Rousseau - Discours sur l'oeconomie politique, 1758 - 5884558.tif, Discours sur l'oeconomie politique, 1758]]

Political or comparative economy is a branch of political science and economics studying economic systems (e.g. markets and national economies) and their governance by political systems (e.g. law, institutions, and government).{{Citation |last1=Hacker |first1=Jacob S. |title=The American Political Economy: A Framework and Agenda for Research |date=2021 |url=https://www.cambridge.org/core/books/american-political-economy/american-political-economy-a-framework-and-agenda-for-research/FA0E70DF16B2133B7FE3ADA6BF699A90 |work=The American Political Economy: Politics, Markets, and Power |pages=4–5 |editor-last=Hertel-Fernandez |editor-first=Alexander |publisher=Cambridge University Press |isbn=978-1-316-51636-2 |last2=Hertel-Fernandez |first2=Alexander |last3=Pierson |first3=Paul |last4=Thelen |first4=Kathleen |editor2-last=Hacker |editor2-first=Jacob S. |editor3-last=Thelen |editor3-first=Kathleen |editor4-last=Pierson |editor4-first=Paul |access-date=2022-06-18 |archive-date=2022-05-03 |archive-url=https://web.archive.org/web/20220503113836/https://www.cambridge.org/core/books/american-political-economy/american-political-economy-a-framework-and-agenda-for-research/FA0E70DF16B2133B7FE3ADA6BF699A90 |url-status=live }}{{Cite book |last1=Bladen |first1=Vincent |title=An Introduction to Political Economy |year=2016 |publisher=University of Toronto Press |isbn=978-1442632103 |oclc=1013947543 |author-link1=Vincent Bladen}}{{Cite book |last=Mill, John Stuart, 1806–1873. |title=Principles of political economy : with some of their applications to social philosophy |date=2009 |publisher=Bibliolife |isbn=978-1116761184 |oclc=663099414}}{{Cite web |title=political economy {{!}} Britannica |url=https://www.britannica.com/topic/political-economy |access-date=2022-05-15 |website=www.britannica.com |language=en |archive-date=2019-12-14 |archive-url=https://web.archive.org/web/20191214194856/https://www.britannica.com/topic/political-economy |url-status=live }} Widely-studied phenomena within the discipline are systems such as labour and international markets, as well as phenomena such as growth, distribution, inequality, and trade, and how these are shaped by institutions, laws, and government policy. Originating in the 18th century, it is the precursor to the modern discipline of economics.{{Cite web |title=economics {{!}} Definition, History, Examples, Types, & Facts {{!}} Britannica |url=https://www.britannica.com/topic/economics |access-date=2022-05-15 |website=www.britannica.com |language=en |archive-date=2015-06-15 |archive-url=https://web.archive.org/web/20150615062550/https://www.britannica.com/topic/economics |url-status=live }}{{Cite web |last1=Weingast |first1=Barry R. |last2=Wittman |first2=Donald A. |date=2011-07-07 |title=Overview Of Political Economy |url=https://www.oxfordhandbooks.com/view/10.1093/oxfordhb/9780199604456.001.0001/oxfordhb-9780199604456-e-038 |access-date=2022-05-15 |website=The Oxford Handbook of Political Science |language=en |doi=10.1093/oxfordhb/9780199604456.013.0038 |archive-date=2022-05-15 |archive-url=https://web.archive.org/web/20220515165024/https://www.oxfordhandbooks.com/view/10.1093/oxfordhb/9780199604456.001.0001/oxfordhb-9780199604456-e-038 |url-status=live }} Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and modern economics.

Political economy originated within 16th century western moral philosophy, with theoretical works exploring the administration of states' wealth; political signifying the Greek word polity and economy signifying the Greek word {{wikt-lang|grc|οἰκονομία}}; household management. The earliest works of political economy are usually attributed to the British scholars Adam Smith, Thomas Malthus, and David Ricardo, although they were preceded by the work of the French physiocrats, such as François Quesnay, Richard Cantillon and Anne-Robert-Jacques Turgot.Steiner (2003), pp. 61–62

In the late 19th century, the term economics gradually began to replace the term political economy with the rise of mathematical modeling coinciding with the publication of the influential textbook Principles of Economics by Alfred Marshall in 1890. Earlier, William Stanley Jevons, a proponent of mathematical methods applied to the subject, advocated economics for brevity and with the hope of the term becoming "the recognised name of a science".Jevons, W. Stanley. The Theory of Political Economy, 1879, 2nd ed. [https://books.google.com/books?id=aYcBAAAAQAAJ&pg=PR14=ONEPAGE p. xiv.] {{Webarchive|url=https://web.archive.org/web/20230412085429/https://books.google.com/books?id=aYcBAAAAQAAJ&pg=PR14=onepage |date=2023-04-12 }}Groenwegen, Peter. (1987 [2008]). "'political economy' and 'economics'", The New Palgrave: A Dictionary of Economics, v. 3, pp. 905–906. [Pp. 904–07.] Citation measurement metrics from Google Ngram Viewer indicate that use of the term economics began to overshadow political economy around roughly 1910, becoming the preferred term for the discipline by 1920.Mark Robbins (2016) "Why we need political economy," Policy Options, [http://policyoptions.irpp.org/magazines/january-2017/why-we-need-political-economy/] {{Webarchive|url=https://web.archive.org/web/20190402082231/http://policyoptions.irpp.org/magazines/january-2017/why-we-need-political-economy/|date=2019-04-02}} Today, the term economics usually refers to the narrow study of the economy absent other political and social considerations while the term political economy represents a distinct and competing approach.

Etymology

Originally, political economy meant the study of the conditions under which production or consumption within limited parameters was organized in nation-states. In that way, political economy expanded the emphasis on economics, which comes from the Greek oikos (meaning "home") and nomos (meaning "law" or "order"). Political economy was thus meant to express the laws of production of wealth at the state level, quite like economics concerns putting home to order. The phrase économie politique (translated in English to "political economy") first appeared in France in 1615 with the well-known book by Antoine de Montchrétien, Traité de l'economie politique. Other contemporary scholars attribute the roots of this study to the 13th Century Tunisian Arab Historian and Sociologist, Ibn Khaldun, for his work on making the distinction between "profit" and "sustenance", in modern political economy terms, surplus and that required for the reproduction of classes respectively. He also calls for the creation of a science to explain society and goes on to outline these ideas in his major work, the Muqaddimah. In Al-Muqaddimah Khaldun states, "Civilization and its well-being, as well as business prosperity, depend on productivity and people's efforts in all directions in their own interest and profit" – seen as a modern precursor to Classical Economic thought.

Leading on from this, the French physiocrats were the first major exponents of political economy,{{Cite journal|last=Bertholet|first=Auguste|date=2020-05-27|title=The intellectual origins of Mirabeau|journal=History of European Ideas|volume=47|pages=91–96|doi=10.1080/01916599.2020.1763745|s2cid=219747599|issn=0191-6599}} although the intellectual responses{{Cite book |last1=Bertholet |first1=Auguste |url=https://www.sgeaj.ch/wp-content/uploads/2024/12/bertholet-kapossy-la-physiocratie-et-la-suisse-2023.pdf |title=La Physiocratie et la Suisse |last2=Kapossy |first2=Béla |publisher=Slatkine |year=2023 |isbn=9782051029391 |location=Geneva |language=fr}} of Adam Smith, John Stuart Mill, David Ricardo, Henry George and Karl Marx to the physiocrats generally receive much greater attention.{{Cite web|url=https://www.athabascau.ca/humanities-and-social-sciences/resources/ba-poec-what-is-political-economy.html|website=Political Economy, Athabasca University|language=en-CA|access-date=2022-02-06|title=What is Political Economy?|archive-date=2022-02-07|archive-url=https://web.archive.org/web/20220207020919/https://www.athabascau.ca/humanities-and-social-sciences/resources/ba-poec-what-is-political-economy.html|url-status=live}} The world's first professorship in political economy was established in 1754 at the University of Naples Federico II in southern Italy. The Neapolitan philosopher Antonio Genovesi was the first tenured professor. In 1763, Joseph von Sonnenfels was appointed a Political Economy chair at the University of Vienna, Austria. Thomas Malthus, in 1805, became England's first professor of political economy, at the East India Company College, Haileybury, Hertfordshire. At present, political economy refers to different yet related approaches to studying economic and related behaviours, ranging from the combination of economics with other fields to the use of different, fundamental assumptions challenging earlier economic assumptions.

Current approaches

File:Keohane small.jpg, international relations theorist]]

Political economy most commonly refers to interdisciplinary studies drawing upon economics, sociology and political science in explaining how political institutions, the political environment, and the economic system—capitalist, socialist, communist, or mixed—influence each other.Weingast, Barry R., and Donald Wittman, ed., 2008. The Oxford Handbook of Political Economy. Oxford UP. [http://www.oup.com/us/catalog/general/subject/?view=usa&view=usa&ci=9780199548477&cp=24297 Description] {{webarchive|url=https://web.archive.org/web/20130125191416/http://www.oup.com/us/catalog/general/subject/?view=usa |date=2013-01-25 }} and [https://books.google.com/books?id=WgHcf8Y0r9UC&pg=PR7=GBS_ATB preview.] {{Webarchive|url=https://web.archive.org/web/20230430080740/https://books.google.com/books?id=WgHcf8Y0r9UC&pg=PR7=gbs_atb |date=2023-04-30 }} The Journal of Economic Literature classification codes associate political economy with three sub-areas: (1) the role of government and/or class and power relationships in resource allocation for each type of economic system;At JEL: P as in [http://www.aeaweb.org/jel/guide/jel.php JEL Classification Codes Guide] {{Webarchive|url=https://web.archive.org/web/20131118064704/http://www.aeaweb.org/jel/guide/jel.php |date=2013-11-18 }}, drilled to at each economic-system link.
For example:
   • Brandt, Loren, and Thomas G. Rawski (2008). "Chinese economic reforms," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_C000600&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130528171420/http://www.dictionaryofeconomics.com/article?id=pde2008_C000600&edition=current&q= |date=2013-05-28 }}
   • Helsley, Robert W. (2008). "urban political economy," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_U000067&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522043934/http://www.dictionaryofeconomics.com/article?id=pde2008_U000067&edition=current&q= |date=2013-05-22 }} (2) international political economy, which studies the economic impacts of international relations;At JEL: F5 as drilled to in [http://www.aeaweb.org/jel/guide/jel.php JEL Classification Codes Guide] {{Webarchive|url=https://web.archive.org/web/20131118064704/http://www.aeaweb.org/jel/guide/jel.php |date=2013-11-18 }}.
For example:
   • Gilpin, Robert (2001), Global Political Economy: Understanding the International Economic Order, Princeton. [http://press.princeton.edu/titles/7093.html Description] {{Webarchive|url=https://web.archive.org/web/20130122110319/http://press.princeton.edu/titles/7093.html |date=2013-01-22 }} and ch. 1, " The New Global Economic Order" [http://press.princeton.edu/chapters/s7093.pdf link.] {{Webarchive|url=https://web.archive.org/web/20130309172355/http://press.princeton.edu/chapters/s7093.pdf |date=2013-03-09 }}
   • Mitra, Devashish (2008). "trade policy, political economy of," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_T000213&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522043404/http://www.dictionaryofeconomics.com/article?id=pde2008_T000213&edition=current&q= |date=2013-05-22 }} and (3) economic models of political or exploitative class processes.At JEL: D72 and [https://www.aeaweb.org/econlit/jelCodes.php?view=jel#D JEL: D74] {{Webarchive|url=https://web.archive.org/web/20171105085154/https://www.aeaweb.org/econlit/jelCodes.php?view=jel#D |date=2017-11-05 }} with context for its usage in [http://www.aeaweb.org/jel/guide/jel.php JEL Classification Codes Guide] {{Webarchive|url=https://web.archive.org/web/20131118064704/http://www.aeaweb.org/jel/guide/jel.php |date=2013-11-18 }}, drilled to at JEL: D7. Within the field of political science, there is generally a distinction between international political economy (studied by international relations scholars) and comparative political economy (studied by comparative politics scholars).

Public choice theory is a microfoundations theory closely intertwined with political economy. Both approaches model voters, politicians and bureaucrats as behaving in mainly self-interested ways, in contrast to a view, ascribed to earlier mainstream economists, of government officials trying to maximize individual utilities from some kind of social welfare function.• Tullock, Gordon ([1987] 2008). "public choice," The New Palgrave Dictionary of Economics. [http://www.dictionaryofeconomics.com/article?id=pde2008_P000240&q=rational%20choice&topicid=&result_number=10 Abstract] {{Webarchive|url=https://web.archive.org/web/20180107182712/http://www.dictionaryofeconomics.com/article?id=pde2008_P000240&q=rational%20choice&topicid=&result_number=10 |date=2018-01-07 }}.
   • Arrow, Kenneth J. (1963). Social Choice and Individual Values, 2nd ed., [http://cowles.econ.yale.edu/P/cm/m12-2/m12-2-08.pdf ch. VIII] {{Webarchive|url=https://web.archive.org/web/20130701174737/http://cowles.econ.yale.edu/P/cm/m12-2/m12-2-08.pdf |date=2013-07-01 }}, sect. 2, The Social Decision Process, pp. 106–08. As such, economists and political scientists often associate political economy with approaches using rational-choice assumptions,Lohmann, Susanne (2008). "rational choice and political science," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_R000253&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522051808/http://www.dictionaryofeconomics.com/article?id=pde2008_R000253&edition=current&q= |date=2013-05-22 }} especially in game theory• Shubik, Martin (1981). "Game Theory Models and Methods in Political Economy," in K. Arrow and M. Intriligator, ed., Handbook of Mathematical Economics, Elsevier, v. 1, pp. [http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B7P5Y-4FDF0FN-C&_user=10&_coverDate=01/01/1981&_rdoc=11&_fmt=high&_orig=browse&_origin=browse&_zone=rslt_list_item&_srch=doc-info(%23toc%2324615%231981%23999989999%23565707%23FLP%23display%23Volume)&_cdi=24615&_sort=d&_docanchor=&_ct=14&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=cb34198ec88c9ab8fa59af6d5634e9cf&searchtype=a 285]{{dead link|date=March 2019|bot=medic}}{{cbignore|bot=medic}}-330.
   • _____ (1984). A Game-Theoretic Approach to Political Economy. MIT Press. [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=5086 Description] {{webarchive|url=https://web.archive.org/web/20110629151809/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=5086 |date=2011-06-29 }} and review [https://www.jstor.org/pss/4225764 extract].
   • _____ (1999). Political Economy, Oligopoly and Experimental Games: The Selected Essays of Martin Shubik, v. 1, Edward Elgar. [http://www.e-elgar.co.uk/bookentry_mainUS.lasso?id=834 Description] {{Webarchive|url=https://web.archive.org/web/20120524055749/http://www.e-elgar.co.uk/bookentry_mainUS.lasso?id=834 |date=2012-05-24 }} and contents of [https://books.google.com/books?id=DZ_97SqmzagC&pg=PR5 Part I] {{Webarchive|url=https://web.archive.org/web/20230430080737/https://books.google.com/books?id=DZ_97SqmzagC&pg=PR5 |date=2023-04-30 }}, Political Economy.
   • Peter C. Ordeshook (1990). "The Emerging Discipline of Political Economy," ch. 1 in Perspectives on Positive Political Economy, Cambridge, pp. [https://books.google.com/books?id=wKJu6g5ovhcC&dq=%22The+emerging+discipline+of+political+economy%22+%22game+theory%22&pg=PA9 9–30.] {{Webarchive|url=https://web.archive.org/web/20230412083007/https://books.google.com/books?id=wKJu6g5ovhcC&dq=%22The+emerging+discipline+of+political+economy%22+%22game+theory%22&pg=PA9 |date=2023-04-12 }}
   • _____ (1986). Game Theory and Political Theory, Cambridge.

[http://www.cambridge.org/gb/knowledge/isbn/item1132862/?site_locale=en_GB Description] {{Webarchive|url=https://web.archive.org/web/20130309165458/http://www.cambridge.org/gb/knowledge/isbn/item1132862/?site_locale=en_GB |date=2013-03-09 }} and [https://books.google.com/books?id=ZgbXUoEzxokC&pg=PR5= preview.] and in examining phenomena beyond economics' standard remit, such as government failure and complex decision making in which context the term "positive political economy" is common.Alt, James E.; Shepsle, Kenneth (eds.) (1990), Perspectives on Positive Political Economy (Cambridge [UK]; New York: Cambridge University Press). Description and content [http://www.cambridge.org/gb/knowledge/isbn/item1139893/?site_locale=en_GB links] {{Webarchive|url=https://web.archive.org/web/20130309165536/http://www.cambridge.org/gb/knowledge/isbn/item1139893/?site_locale=en_GB|date=2013-03-09}} and [https://books.google.com/books?id=wKJu6g5ovhcC&pg=PA1=FALSE preview.] {{Webarchive|url=https://web.archive.org/web/20230412083004/https://books.google.com/books?id=wKJu6g5ovhcC&pg=PA1=false|date=2023-04-12}} Other "traditional" topics include analysis of such public policy issues as economic regulation,Rose, N. L. (2001). "Regulation, Political Economy of," International Encyclopedia of the Social & Behavioral Sciences, pp. 12967–12970. [https://archive.today/20130202153809/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B7MRM-4MT09VJ-2YX&_rdoc=11&_hierId=151000135&_refWorkId=21&_explode=151000131,151000135&_fmt=high&_orig=na&_docanchor=&_idxType=SC&view=c&_ct=14&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=275222d8e93eb1135b7ae20e38b67a8b Abstract.] monopoly, rent-seeking, market protection,Krueger, Anne O. (1974). "The Political Economy of the Rent-Seeking Society," American Economic Review, 64(3), [https://www.jstor.org/pss/1808883 p. 291]–303. institutional corruption• Bose, Niloy. "corruption and economic growth," The New Palgrave Dictionary of Economics Online, 2nd Edition, 2010. [http://www.dictionaryofeconomics.com/article?id=pde2010_C000616&edition=current&q=%20corruption&topicid=&result_number=1 Abstract.] {{Webarchive|url=https://web.archive.org/web/20101229134928/http://www.dictionaryofeconomics.com/article?id=pde2010_C000616&edition=current&q=%20corruption&topicid=&result_number=1 |date=2010-12-29 }}
   • Rose-Ackerman, Susan (2008). "bribery," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_B000199&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522060248/http://www.dictionaryofeconomics.com/article?id=pde2008_B000199&edition=current&q= |date=2013-05-22 }} and distributional politics.• Becker, Gary S. (1983). "A Theory of Competition among Pressure Groups for Political Influence," Quarterly Journal of Economics, 98(3), pp. [http://www2.bren.ucsb.edu/~glibecap/BeckerQJE1983.pdf 371–400.] {{Webarchive|url=https://web.archive.org/web/20110511104632/http://www2.bren.ucsb.edu/~glibecap/BeckerQJE1983.pdf |date=2011-05-11 }}
   • Weingast, Barry R., Kenneth A. Shepsle, and Christopher Johnsen (1981). "The Political Economy of Benefits and Costs: A Neoclassical Approach to Distributive Politics," Journal of Political Economy, 89(4), pp. [http://www.walkerd.people.cofc.edu/400/Sobel/2A-5.%20Weingast%20-%20Political%20Economy%20of%20Benefits%20and%20Costs.pdf 642–664.] {{Webarchive|url=https://web.archive.org/web/20130510191730/http://www.walkerd.people.cofc.edu/400/Sobel/2A-5.%20Weingast%20-%20Political%20Economy%20of%20Benefits%20and%20Costs.pdf |date=2013-05-10 }}
   • Breyer, Friedrich (1994). "The Political Economy of Intergenerational Redistribution," European Journal of Political Economy, 10(1), pp. 61–84. [https://archive.today/20130201203532/http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6V97-46383PF-7&_user=10&_coverDate=05/31/1994&_rdoc=1&_fmt=high&_orig=search&_origin=search&_sort=d&_docanchor=&view=c&_rerunOrigin=scholar.google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=dfc37a3bb7197657fa1320111de1763a&searchtype=a Abstract.]
   • Williamson, Oliver E. (1995). "The Politics and Economics of Redistribution and Inefficiency," Greek Economic Review, December, 17, pp. 115–136, reprinted in Williamson (1996), The Mechanisms of Governance, Oxford University Press, [https://books.google.com/books?id=meERBVysP6YC&pg=PR11 ch. 8] {{Webarchive|url=https://web.archive.org/web/20230412083001/https://books.google.com/books?id=meERBVysP6YC&pg=PR11 |date=2023-04-12 }}, pp. 195–218.
   • Krusell, Per, and José-Víctor Ríos-Rull (1999). "On the Size of U.S. Government: Political Economy in the Neoclassical Growth Model," American Economic Review, 89(5), pp. [https://www.jstor.org/pss/117052 1156]–1181.
   • Galasso, Vincenzo, and Paola Profeta (2002). "The Political Economy of Social Security: A Survey," European Journal of Political Economy, 18(1), pp. [http://www.nek.lu.se/NEKaha/Public%20finance/Galasso%20and%20Profeta.pdf 1–29.]{{dead link|date=March 2018 |bot=InternetArchiveBot |fix-attempted=yes }} Empirical analysis includes the influence of elections on the choice of economic policy, determinants and forecasting models of electoral outcomes, the political business cycles,• Drazen, Allan (2008). "Political business cycles," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_P000112&edition=current&q=Political%20business%20cycle&topicid=&result_number=4 Abstract.] {{Webarchive|url=https://web.archive.org/web/20101229135043/http://www.dictionaryofeconomics.com/article?id=pde2008_P000112&edition=current&q=Political%20business%20cycle&topicid=&result_number=4 |date=2010-12-29 }}
   • Nordhaus, William D. (1989). "Alternative Approaches to the Political Business Cycle," Brookings Papers on Economic Activity, (2), pp. [https://www.jstor.org/pss/2534461 1] {{Webarchive|url=https://web.archive.org/web/20200401075035/https://www.jstor.org/pss/2534461 |date=2020-04-01 }}–68. central-bank independence and the politics of excessive deficits.• Buchanan, James M. (2008). "public debt," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_P000241&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522043427/http://www.dictionaryofeconomics.com/article?id=pde2008_P000241&edition=current&q= |date=2013-05-22 }}
   • Alesina, Alberto, and Roberto Perotti (1995). "The Political Economy of Budget Deficits," IMF Staff Papers, 42(1), pp. [https://www.jstor.org/pss/3867338 1]–31. An interesting example would be the publication in 1954 of the first manual of Political Economy in the Soviet Union, edited by Lev Gatovsky, which mixed the classic theoretical approach of the time with the soviet political discourse.{{Cite book |url=https://www.marxists.org/subject/economy/authors/pe/index.htm |title=Political Economy: A Textbook issued by the Economics Institute of the Academy of Sciences of the U.S.S.R |collaboration=K.V. Ostrovityanov; D.T. Shepilov; L.A. Leontyev; I.D. Laptev; I.I. Kuzminov; L.M. Gatovsky; P.F. Yudin; A.I. Pashkov; V. N. Starovsky |date=1954 |publisher=Economics Institute of the Academy of Sciences of the U.S.S.R |edition=1st |location=Moscow |publication-place=Marxists Internet Archive |publication-date=2014 |language=ru |trans-title=Political Economy: A Textbook issued by the Economics Institute of the Academy of Sciences of the U.S.S.R}}

File:Professor Susan Strange, c1980.jpg, international relations scholar]]

A rather recent focus has been put on modeling economic policy and political institutions concerning interactions between agents and economic and political institutions,• Timothy, Besley (2007). Principled Agents?: The Political Economy of Good Government, Oxford. [http://www.oxfordscholarship.com/view/10.1093/acprof:oso/9780199283910.001.0001/acprof-9780199283910 Description.] {{Webarchive|url=https://web.archive.org/web/20130510233241/http://www.oxfordscholarship.com/view/10.1093/acprof:oso/9780199283910.001.0001/acprof-9780199283910 |date=2013-05-10 }}
   • _____ and Torsten Persson (2008). "political institutions, economic approaches to," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_E000252&edition=current&q= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522062228/http://www.dictionaryofeconomics.com/article?id=pde2008_E000252&edition=current&q= |date=2013-05-22 }}
   • North, Douglass C. (1986). "The New Institutional Economics," Journal of Institutional and Theoretical Economics, 142(1), pp. [https://www.jstor.org/discover/10.2307/40726723?uid=3739936&uid=2&uid=4&uid=3739256&sid=21101659658757 230]–237.
   • _____ (1990). Institutions, Institutional Change and Economic Performance, in the Political Economy of Institutions and Decisions series. Cambridge. [http://www.cambridge.org/gb/knowledge/isbn/item1139799/?site_locale=en_GB Description] {{Webarchive|url=https://web.archive.org/web/20130309165617/http://www.cambridge.org/gb/knowledge/isbn/item1139799/?site_locale=en_GB |date=2013-03-09 }} and [https://books.google.com/books?id=oFnWbTqgNPYC&pg=PR5=ONEPAGE preview.] {{Webarchive|url=https://web.archive.org/web/20230430080734/https://books.google.com/books?id=oFnWbTqgNPYC&pg=PR5=onepage |date=2023-04-30 }}
   • Ostrom, Elinor (1990). Governing the Commons: The Evolution of Institutions for Collective Action. Cambridge University Press. [http://www.cambridge.org/gb/knowledge/isbn/item1140521/?site_locale=en_GB Description] {{Webarchive|url=https://web.archive.org/web/20130309165650/http://www.cambridge.org/gb/knowledge/isbn/item1140521/?site_locale=en_GB |date=2013-03-09 }} and preview [https://books.google.com/books?id=4xg6oUobMz4C&pg=PR9 links.] {{Webarchive|url=https://web.archive.org/web/20230412083005/https://books.google.com/books?id=4xg6oUobMz4C&pg=PR9 |date=2023-04-12 }} {{ISBN|9780521405997}}.
   • _____ (2010). "Beyond Markets and States: Polycentric Governance of Complex Economic Systems," American Economic Review, 100(3), pp. [http://bnp.binghamton.edu/wp-content/uploads/2011/06/Ostrom-2010-Polycentric-Governance.pdf 641–672] {{webarchive|url=https://web.archive.org/web/20131105113916/http://bnp.binghamton.edu/wp-content/uploads/2011/06/Ostrom-2010-Polycentric-Governance.pdf |date=2013-11-05 }}. including the seeming discrepancy of economic policy and economist's recommendations through the lens of transaction costs.Dixit, Avinash (1996). The Making of Economic Policy: A Transaction Cost Politics Perspective. MIT Press. [http://mitpress.mit.edu/books/making-economic-policy Description] {{Webarchive|url=https://web.archive.org/web/20171117161154/https://mitpress.mit.edu/books/making-economic-policy |date=2017-11-17 }} and chapter-preview [https://books.google.com/books?id=zbpJGZkvcuUC&pg=PR5 links.] {{Webarchive|url=https://web.archive.org/web/20230430080736/https://books.google.com/books?id=zbpJGZkvcuUC&pg=PR5 |date=2023-04-30 }} Review-excerpt [https://link.springer.com/article/10.1023%2FA%3A1005222327820?LI=true link] {{Webarchive|url=https://web.archive.org/web/20181215123209/https://link.springer.com/article/10.1023%2FA%3A1005222327820?LI=true |date=2018-12-15 }}. From the mid-1990s, the field has expanded, in part aided by new cross-national data sets allowing tests of hypotheses on comparative economic systems and institutions.Beck, Thorsten et al. (2001). "New Tools in Comparative Political Economy: The Database of Political Institutions," World Bank Economic Review,15(1), pp. [https://www.jstor.org/discover/10.2307/3990075?uid=3739936&uid=2&uid=4&uid=3739256&sid=21101764581027 165]–176. Topics have included the breakup of nations,Bolton, Patrick, and Gérard Roland (1997). "The Breakup of Nations: A Political Economy Analysis," Quarterly Journal of Economics, 112(4), pp. [http://www0.gsb.columbia.edu/faculty/pbolton/PDFS/Breakup_Nations.pdf 1057–1090.] {{Webarchive|url=https://web.archive.org/web/20120401115448/http://www0.gsb.columbia.edu/faculty/pbolton/PDFS/Breakup_Nations.pdf |date=2012-04-01 }} the origins and rate of change of political institutions in relation to economic growth,Alesina, Alberto, and Roberto Perotti (1994). "The Political Economy of Growth: A Critical Survey of the Recent Literature," World Bank Economic Review, 8(3), pp. [http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1999/09/11/000178830_98101911401317/Rendered/PDF/multi_page.pdf 351–371.] {{Webarchive|url=https://web.archive.org/web/20111117143644/http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1999/09/11/000178830_98101911401317/Rendered/PDF/multi_page.pdf |date=2011-11-17 }} development,Keefer, Philip (2004). "What Does Political Economy Tell Us about Economic Development and Vice Versa?" Annual Review of Political Science, 7, pp. 247–272. [https://books.google.com/books?id=1X5KZ3Uhx7kC&pg=PR1 PDF.] {{Webarchive|url=https://web.archive.org/web/20230412085429/https://books.google.com/books?id=1X5KZ3Uhx7kC&pg=PR1 |date=2023-04-12 }} financial markets and regulation,Perotti, Enrico (2014). "The Political Economy of Finance", in

"Capitalism and Society" Vol. 9, No. 1, Article 1 [https://ssrn.com/abstract=2427842] the importance of institutions,"Chang, H. J. (2002). Breaking the Mould – An Institutionalist Political Economy Alternative to the Neo-Liberal Theory of the Market and State", in "Cambridge Journal of Economics", 26(5), [http://www.unrisd.org/80256B3C005BCCF9/(httpAuxPages)/44552A491D461D0180256B5E003CAFCC/$file/chang.pdf] {{Webarchive|url=https://web.archive.org/web/20191031220340/http://www.unrisd.org/80256B3C005BCCF9/%28httpAuxPages%29/44552A491D461D0180256B5E003CAFCC/$file/chang.pdf|date=2019-10-31}} backwardness,Acemoglu, Daron, and James A. Robinson (2006). "Economic Backwardness in Political Perspective," American Political Science Review, 100(1), pp. [http://economics.mit.edu/files/4471 115–131] {{Webarchive|url=https://web.archive.org/web/20120527043328/http://economics.mit.edu/files/4471 |date=2012-05-27 }}. reform• Mukand, Sharun W. (2008). "policy reform, political economy of," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_P000363&edition= Abstract.] {{Webarchive|url=https://web.archive.org/web/20130522060100/http://www.dictionaryofeconomics.com/article?id=pde2008_P000363&edition= |date=2013-05-22 }}
   • Sturzenegger, Federico, and Mariano Tommasi (1998). The Polítical Economy of Reform, MIT Press. [http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=7698 Description] {{webarchive|url=https://web.archive.org/web/20121011071925/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=7698 |date=2012-10-11 }} and chapter-preview [https://books.google.com/books/mitpress?id=oxhsaTkxzRUC&printsec=find&pg=PR5=gbs_atb#v=onepage&q=&f=false links.] and transition economies,• Roland, Gérard (2002), "The Political Economy of Transition," Journal of Economic Perspectives, 16(1), pp. [http://pubs.aeaweb.org/doi/pdfplus/10.1257/0895330027102 29–50.] {{Webarchive|url=https://web.archive.org/web/20210501182627/https://pubs.aeaweb.org/doi/pdfplus/10.1257/0895330027102 |date=2021-05-01 }}
   • _____ (2000). Transition and Economics: Politics, Markets, and Firms, MIT Press. [http://mitpress.mit.edu/books/transition-and-economics Description] {{Webarchive|url=https://web.archive.org/web/20180416034908/https://mitpress.mit.edu/books/transition-and-economics |date=2018-04-16 }} and [https://books.google.com/books?id=1GCTRXEQ9SUC&pg=PA1 preview.] {{Webarchive|url=https://web.archive.org/web/20230412085430/https://books.google.com/books?id=1GCTRXEQ9SUC&pg=PA1 |date=2023-04-12 }}
   • Manor, James (1999). The Political Economy of Democratic Decentralization, The World Bank. {{ISBN|9780821344705}}. [http://elibrary.worldbank.org/content/book/9780821344705 Description.]{{Dead link|date=May 2025 |bot=InternetArchiveBot |fix-attempted=yes }} the role of culture, ethnicity and gender in explaining economic outcomes,Alesina, Alberto F. (2007:3) "Political Economy," NBER Reporter, [http://www.nber.org/reporter/2007number3/2007number3.pdf pp. 1–5] {{Webarchive|url=https://web.archive.org/web/20110611132147/http://www.nber.org/reporter/2007number3/2007number3.pdf |date=2011-06-11 }}. Abstract-linked-footnotes [http://www.nber.org/reporter/2007number3/ version.] macroeconomic policy,Drazen, Allan (2000). Political Economy in Macroeconomics, Princeton. [http://press.princeton.edu/titles/6819.html Description] {{Webarchive|url=https://web.archive.org/web/20101022150718/http://press.princeton.edu/titles/6819.html |date=2010-10-22 }} & ch. 1-preview [http://press.princeton.edu/chapters/s6819.html link.] {{Webarchive|url=https://web.archive.org/web/20101207135934/http://press.princeton.edu/chapters/s6819.html |date=2010-12-07 }}, and review [https://www.jstor.org/pss/2698665 extract.] the environment,• Dietz, Simon, Jonathan Michie, and Christine Oughton (2011). Political Economy of the Environment An Interdisciplinary Approach, Routledge. [http://www.routledge.com/books/details/9780415437530/ Description] {{Webarchive|url=https://web.archive.org/web/20130623022014/http://www.routledge.com/books/details/9780415437530/ |date=2013-06-23 }} and [http://www.ewidgetsonline.net/dxreader/Reader.aspx?token=0ca43e7ab5694e34864d5105653e3c73&rand=367513239&buyNowLink=&page=&chapter= preview.] {{Webarchive|url=https://web.archive.org/web/20130723083755/http://www.ewidgetsonline.net/dxreader/Reader.aspx?token=0ca43e7ab5694e34864d5105653e3c73&rand=367513239&buyNowLink=&page=&chapter= |date=2013-07-23 }}
   • Banzhaf, H. Spencer, ed. (2012). The Political Economy of Environmental Justice Stanford U.P. Description and contents [http://www.sup.org/book.cgi?id=20260 links.] {{Webarchive|url=https://web.archive.org/web/20130119130312/http://sup.org/book.cgi?id=20260 |date=2013-01-19 }}
   • Gleeson, Brendan, and Nicholas Low (1998). Justice, Society and Nature An Exploration of Political Ecology, Routledge. [http://www.psypress.com/books/details/9780415145176/ Description] {{Webarchive|url=https://web.archive.org/web/20130510060252/http://www.psypress.com/books/details/9780415145176/ |date=2013-05-10 }} and [https://books.google.com/books?id=kzd10izMg78C&pg=PA1 preview.] {{Webarchive|url=https://web.archive.org/web/20230412085428/https://books.google.com/books?id=kzd10izMg78C&pg=PA1 |date=2023-04-12 }}
   • John S. Dryzek, 2000. Rational Ecology: Environment and Political Economy, Blackburn Press. B&N [http://www.barnesandnoble.com/w/rational-ecology-john-s-dryzek/1004079160?ean=9781930665095 description.] {{Webarchive|url=https://web.archive.org/web/20130517070636/http://www.barnesandnoble.com/w/rational-ecology-john-s-dryzek/1004079160?ean=9781930665095 |date=2013-05-17 }}
   • Barry, John 2001. "Justice, Nature and Political Economy," Economy and Society, 30(3), pp. [https://www.academia.edu/172734/Justice_nature_and_political_economy 381–394.] {{Webarchive|url=https://web.archive.org/web/20171112000822/http://www.academia.edu/172734/Justice_nature_and_political_economy |date=2017-11-12 }}
   • Boyce, James K. (2002). The Political Economy of the Environment, Edward Elgar. [http://www.e-elgar.co.uk/bookentry_main.lasso?id=2080 Description.] {{Webarchive|url=https://web.archive.org/web/20130522214634/http://www.e-elgar.co.uk/bookentry_main.lasso?id=2080 |date=2013-05-22 }} fairness•

Zajac, Edward E. (1996). Political Economy of Fairness, MIT Press [http://mitpress.mit.edu/books/political-economy-fairness Description] {{Webarchive|url=https://web.archive.org/web/20140306140740/http://mitpress.mit.edu/books/political-economy-fairness |date=2014-03-06 }} and chapter-preview [https://books.google.com/books?id=DBoWY7r-F3sC&pg=PR7 links.]
   • Thurow, Lester C. (1980). The Zero-sum Society: Distribution and the Possibilities For Economic Change, Penguin. [https://books.google.com/books?id=V5uBbTOzYOAC&pg=PA233 Description] {{Webarchive|url=https://web.archive.org/web/20230430080731/https://books.google.com/books?id=V5uBbTOzYOAC&pg=PA233 |date=2023-04-30 }} and [https://books.google.com/books?id=V5uBbTOzYOAC&pg=PP4=ONEPAGE preview.] {{Webarchive|url=https://web.archive.org/web/20230412085428/https://books.google.com/books?id=V5uBbTOzYOAC&pg=PP4=onepage |date=2023-04-12 }} and the relation of constitutions to economic policy, theoretical• Persson, Torsten, and Guido Tabellini (2000). Political Economics: Explaining Economic Policy, MIT Press. Review [https://www.jstor.org/pss/2698665 extract], [https://web.archive.org/web/20060911000631/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=8754 description] and chapter-preview [https://books.google.com/books?id=q3h_M3QI7OYC&pg=PR7=GBS_ATB links.] {{Webarchive|url=https://web.archive.org/web/20230412085427/https://books.google.com/books?id=q3h_M3QI7OYC&pg=PR7=gbs_atb |date=2023-04-12 }}
   • Laffont, Jean-Jacques (2000). Incentives and Political Economy, Oxford. [http://www.oxfordscholarship.com/view/10.1093/0199248680.001.0001/acprof-9780199248681 Description.] {{Webarchive|url=https://web.archive.org/web/20130510210708/http://www.oxfordscholarship.com/view/10.1093/0199248680.001.0001/acprof-9780199248681 |date=2013-05-10 }}
   • Acemoglu, Daron (2003). "Why Not a Political Coase Theorem? Social Conflict, Commitment, and Politics," Journal of Comparative Economics, 31(4), pp. [http://econ-www.mit.edu/files/4461 620–652.] {{Webarchive|url=https://web.archive.org/web/20120304202617/http://econ-www.mit.edu/files/4461 |date=2012-03-04 }} and empirical.Persson, Torsten, and Guido Tabellini (2003). The Economic Effects Of Constitutions, Munich Lectures in Economics. MIT Press. [http://mitpress.mit.edu/books/economic-effects-constitutions Description] {{Webarchive|url=https://web.archive.org/web/20130115104111/http://mitpress.mit.edu/books/economic-effects-constitutions |date=2013-01-15 }} and [https://books.google.com/books?id=NjCw9eSvNPMC&pg=PR11 preview] {{Webarchive|url=https://web.archive.org/web/20230412083003/https://books.google.com/books?id=NjCw9eSvNPMC&pg=PR11 |date=2023-04-12 }}, and review [https://www.jstor.org/pss/2698665 extract.]

Other important landmarks in the development of political economy include:

New political economy which may treat economic ideologies as the phenomenon to explain, per the traditions of Marxian political economy. Thus, Charles S. Maier suggests that a political economy approach "interrogates economic doctrines to disclose their sociological and political premises.... in sum, [it] regards economic ideas and behavior not as frameworks for analysis, but as beliefs and actions that must themselves be explained".Mayer, Charles S. (1987). In Search of Stability: Explorations in Historical Political Economy, Cambridge University Press, Cambridge, pp. 3–6. [http://www.cambridge.org/gb/knowledge/isbn/item1135479/?site_locale=en_GB Description] {{Webarchive|url=https://web.archive.org/web/20130309165722/http://www.cambridge.org/gb/knowledge/isbn/item1135479/?site_locale=en_GB |date=2013-03-09 }} and scrollable [https://books.google.com/books?id=nKOHoyAMnugC&dq=false&pg=PR7 preview.] {{Webarchive|url=https://web.archive.org/web/20230430080739/https://books.google.com/books?id=nKOHoyAMnugC&dq=false&pg=PR7 |date=2023-04-30 }} Cambridge. This approach informs Andrew Gamble's The Free Economy and the Strong State (Palgrave Macmillan, 1988), and Colin Hay's The Political Economy of New Labour (Manchester University Press, 1999). It also informs much work published in New Political Economy, an international journal founded by Sheffield University scholars in 1996.cf: Baker, David (2006). [http://davidlewisbaker.net/baker_political_economy_of_fascism "The political economy of fascism: Myth or reality, or myth and reality?"] {{webarchive|url=https://web.archive.org/web/20110623033918/http://davidlewisbaker.net/baker_political_economy_of_fascism |date=2011-06-23 }}, New Political Economy, 11(2), pp. 227–250.
International political economy (IPE) an interdisciplinary field comprising approaches to the actions of various actors. According to International Relations scholar Chris Brown, University of Warwick professor, Susan Strange, was "almost single-handedly responsible for creating international political economy as a field of study."{{Cite journal|last=Brown|first=Chris|date=July 1999|title=Susan Strange—a critical appreciation|journal=Review of International Studies|language=en|volume=25|issue=3|pages=531–535|doi=10.1017/S0260210599005318|doi-broken-date=1 November 2024 |issn=1469-9044|doi-access=free}} In the United States, these approaches are associated with the journal International Organization, which in the 1970s became the leading journal of IPE under the editorship of Robert Keohane, Peter J. Katzenstein and Stephen Krasner. They are also associated with the journal The Review of International Political Economy. There also is a more critical school of IPE, inspired by thinkers such as Antonio Gramsci and Karl Polanyi; two major figures are Matthew Watson and Robert W. Cox.Cohen, Benjamin J. "The transatlantic divide: Why are American and British IPE so different?", Review of International Political Economy, Vol. 14, No. 2, May 2007.
The use of a political economy approach by anthropologists, sociologists, and geographers used in reference to the regimes of politics or economic values that emerge primarily at the level of states or regional governance, but also within smaller social groups and social networks. Because these regimes influence and are influenced by the organization of both social and economic capital, the analysis of dimensions lacking a standard economic value (e.g. the political economy of language, of gender, or of religion) often draws on concepts used in Marxian critiques of capital. Such approaches expand on neo-Marxian scholarship related to development and underdevelopment postulated by André Gunder Frank and Immanuel Wallerstein.
Historians have employed political economy to explore the ways in the past that persons and groups with common economic interests have used politics to effect changes beneficial to their interests.McCoy, Drew R. "The Elusive Republic: Political Economy in Jeffersonian America", Chapel Hill, University of North Carolina.
Political economy and law is a recent attempt within legal scholarship to engage explicitly with political economy literature. In the 1920s and 1930s, legal realists (e.g. Robert Hale) and intellectuals (e.g. John Commons) engaged themes related to political economy. In the second half of the 20th century, lawyers associated with the Chicago School incorporated certain intellectual traditions from economics. However, since the crisis in 2007 legal scholars especially related to international law, have turned to more explicitly engage with the debates, methodology and various themes within political economy texts.{{Cite journal|url = http://www.law.harvard.edu/faculty/dkennedy/publications/PoliticalEconomy.pdf|title = Law and the Political Economy of the World|last = Kennedy|first = David|date = 2013|journal = Leiden Journal of International Law|volume = 26|pages = 7–48|doi = 10.1017/S0922156512000635|s2cid = 153363066|access-date = December 24, 2015|archive-date = March 4, 2016|archive-url = https://web.archive.org/web/20160304193957/http://www.law.harvard.edu/faculty/dkennedy/publications/PoliticalEconomy.pdf|url-status = live}}{{Cite book|title = Research Handbook on Political Economy and Law|last = Haskell|first = John D.|publisher = Edward Elgar|year = 2015|isbn = 978-1781005347}}
Thomas Piketty's approach and call to action which advocated for the re-introduction of political consideration and political science knowledge more generally into the discipline of economics as a way of improving the robustness of the discipline and remedying its shortcomings, which had become clear following the 2008 financial crisis.Capital in the Twenty-First Century, Harvard University Press, 2014, {{ISBN|978-0674430006}}
In 2010, the only Department of Political Economy in the United Kingdom formally established at King's College London. The rationale for this academic unit was that "the disciplines of Politics and Economics are inextricably linked", and that it was "not possible to properly understand political processes without exploring the economic context in which politics operates".{{Cite web | url=https://www.kcl.ac.uk/political-economy/about/index | title=About Political Economy | Department of Political Economy | King's College London | access-date=2019-03-04 | archive-date=2019-03-06 | archive-url=https://web.archive.org/web/20190306044311/https://www.kcl.ac.uk/political-economy/about/index | url-status=live }}
In 2012, the Sheffield Political Economy Research Institute (SPERI) was founded at The University of Sheffield by professors Tony Payne and Colin Hay. It was created as a means of combining political and economic analyses of capitalism which were viewed by the founders to be insufficient as independent disciplines in explaining the 2008 financial crisis.{{Cite web |date=2012-11-05 |title=Why Political Economy? |url=http://speri.dept.shef.ac.uk/2012/11/05/political-economy/ |access-date=2022-04-26 |website=SPERI |language=en-GB |archive-date=2022-08-16 |archive-url=https://web.archive.org/web/20220816215312/http://speri.dept.shef.ac.uk/2012/11/05/political-economy/ |url-status=live }}
In 2017, the Political Economy UK Group (abbreviated PolEconUK) was established as a research consortium in the field of political economy. It hosts an annual conference and counts among its member institutions Oxford, Cambridge, King's College London, Warwick University and the London School of Economics.{{Cite web | url=https://www.poleconuk.net/ | title=Home | website=The Political Economy UK Group | access-date=2019-03-04 | archive-date=2019-03-06 | archive-url=https://web.archive.org/web/20190306044246/https://www.poleconuk.net/ | url-status=live }}

Related disciplines

Because political economy is not a unified discipline, there are studies using the term that overlap in subject matter, but have radically different perspectives:{{Cite encyclopedia|url=https://www.britannica.com/topic/political-economy|title=political economy|encyclopedia=Encyclopedia Britannica|access-date=2017-06-15|language=en}}

Politics studies power relations and their relationship to achieving desired ends.
Philosophy rigorously assesses and studies a set of beliefs and their applicability to reality.
Economics studies the distribution of resources so that the material wants of a society are satisfied; enhance societal well-being.
Sociology studies the effects of persons' involvement in society as members of groups and how that changes their ability to function. Many sociologists start from a perspective of production-determining relation from Karl Marx.{{Citation needed|date=September 2023}} Marx's theories on the subject of political economy are contained in his book {{Lang|de|Das Kapital}}.
Anthropology studies political economy by investigating regimes of political and economic value that condition tacit aspects of sociocultural practices (e.g. the pejorative use of pseudo-Spanish expressions in the U.S. entertainment media) by means of broader historical, political and sociological processes. Analyses of structural features of transnational processes focus on the interactions between the world capitalist system and local cultures.{{Citation needed|date=September 2023}}
Archaeology attempts to reconstruct past political economies by examining the material evidence for administrative strategies to control and mobilize resources.Hirth, Kenneth G. 1996. Political Economy and Archaeology: Perspectives on Exchange and Production. Journal of Archaeological Research, 4(3):203–239. This evidence may include architecture, animal remains, evidence for craft workshops, evidence for feasting and ritual, evidence for the import or export of prestige goods, or evidence for food storage.
Psychology is the fulcrum on which political economy exerts its force in studying decision making (not only in prices), but as the field of study whose assumptions model political economy.
Geography studies political economy within the wider geographical studies of human-environment interactions wherein economic actions of humans transform the natural environment. Apart from these, attempts have been made to develop a geographical political economy that prioritises commodity production and "spatialities" of capitalism.
History documents change, often using it to argue political economy; some historical works take political economy as the narrative's frame.
Ecology deals with political economy because human activity has the greatest effect upon the environment, its central concern being the environment's suitability for human activity. The ecological effects of economic activity spur research upon changing market economy incentives. Additionally and more recently, ecological theory has been used to examine economic systems as similar systems of interacting species (e.g., firms).{{cite journal|last1=May|first1=Robert M.|last2=Levin|first2=Simon A.|last3=Sugihara|first3=George|title=Ecology for bankers|journal=Nature|volume=451|date=February 21, 2008|issue=7181|pages=893–895|doi=10.1038/451893a|pmid=18288170|doi-access=free}}
Cultural studies examines social class, production, labor, race, gender and sex.
Communications examines the institutional aspects of media and telecommunication systems. As the area of study focusing on aspects of human communication, it pays particular attention to the relationships between owners, labor, consumers, advertisers, structures of production and the state and the power relationships embedded in these relationships.

Journals

Constitutional Political Economy
Economics & Politics. {{ISSN|0954-1985}}
European Journal of Political Economy.
Latin American Perspectives
International Journal of Political Economy
Journal of Australian Political Economy. {{ISSN|0156-5826}}
New Political Economy
Public Choice.
Studies in Political Economy

Notes

References

Baran, Paul A. (1957). The Political Economy of Growth. Monthly Review Press, New York. Review [http://heinonline.org/HOL/LandingPage?collection=journals&handle=hein.journals/guild19&div=12&id=&page= extrract.] {{Webarchive|url=https://web.archive.org/web/20150501031626/http://heinonline.org/HOL/LandingPage?collection=journals&handle=hein.journals/guild19&div=12&id=&page= |date=2015-05-01 }}
Commons, John R. (1934 [1986]). Institutional Economics: Its Place in Political Economy, Macmillan. [http://www.transactionpub.com/title/Institutional-Economics-978-0-88738-797-5.html Description] {{Webarchive|url=https://web.archive.org/web/20110510011622/http://www.transactionpub.com/title/Institutional-Economics-978-0-88738-797-5.html |date=2011-05-10 }} and [https://books.google.com/books?id=1wFHlGU70ZAC&pg=PR11 preview.] {{Webarchive|url=https://web.archive.org/web/20230412085427/https://books.google.com/books?id=1wFHlGU70ZAC&pg=PR11 |date=2023-04-12 }}
David, F., "Utopia and the Critique of Political Economy." Journal of Australian Political Economy, Australian Political Economy Movement, 1 Jan. 2017
Komls, John (2023). [https://books.google.com/books?id=eResEAAAQBAJ&q=John+Komlos,+Foundations Foundations of Real-World Economics; What Every Economics Student Needs To Know (3rd edition)] Routledge.
Leroux, Robert (2011), [https://books.google.com/books?id=KlpmswEACAAJ Political Economy and Liberalism in France : The Contributions of Frédéric Bastiat], London, Routledge.
Maggi, Giovanni, and Andrés Rodríguez-Clare (2007). "A Political-Economy Theory of Trade Agreements," American Economic Review, 97(4), pp. [https://www.jstor.org/pss/30034097 1374]–1406.
O'Hara, Phillip Anthony, ed. (1999). Encyclopedia of Political Economy, 2 v. Routledge. 2003 review [https://web.archive.org/web/20110513195120/http://findarticles.com/p/articles/mi_qa5437/is_4_37/ai_n29053295/ links.]
Pressman, Steven, Interactions in Political Economy: Malvern After Ten Years Routledge, 1996
Rausser, Gordon, Swinnen, Johan, and Zusman, Pinhas (2011). Political Power and Economic Policy. Cambridge University Press.
Winch, Donald (1996). Riches and Poverty : An Intellectual History of Political Economy in Britain, 1750–1834 Cambridge University Press.

External links

NBER (U.S.) "Political Economy" working-paper abstract [http://www.nber.org/papersbyprog/POL.html links.]
VoxEU.org (Europe) [http://www.voxeu.org/index.php?q=node/315 "Politics and economics"] article links.
[https://www.gutenberg.org/ebooks/author/50951 An Inquiry into the Principles of Political Oeconomy], by James Steuart (1712-1780), two volumes.
Harriet Martineau 1802-1876, a writer on political economy, some books at [https://www.gutenberg.org/ebooks/author/25319 Project Gutenberg]

Category:Schools of economic thought

Category:Economic systems

Category:Critique of political economy