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This volume is intended to serve as a review of the “next generation” of political economy scholars in what can be called the “Wagnerian” tradition, which traces its roots to Buchanan and De Viti De Marco in the 1930s, who argued that any decision that results from a political entity must be the product of individual decision makers operating within some framework of formal and informal rules. To treat these decisions as if they were the product of one single mind, or even simply the additive result of several decisions, is to fundamentally misunderstand and mischaracterize the dynamics of collective action. Today, Richard Wagner is among the most prominent theorists in analyzing the institutional foundations of the economy and the organization of political decision-making. In this collection of original essays, former students schooled in this tradition offer emerging insights on public choice theory, public finance, and political economy, across a range of topics from voting behavior to entrepreneurship.
Volume 18 Entangled Political Economy of the Book Series Advances in Austrian Economics examines the concept 'entangled political economy' from several distinct but complementary points of view. The volume is proof that Wagner's notion of entanglement opens new vistas for political economy in all its dimensions.
This book provides a comprehensive investigation of the messy and crisis-ridden relationship between the operations of capitalist finance, global capital flows, and state power in emerging markets. The politics, drivers of emergence, and diversity of these myriad forms of state power are explored in light of the positionality of emerging markets within the network of space and power relations that characterises contemporary global finance. The book develops a multi-disciplinary perspective and combines insights from Marxist political economy, post-Keynesian economics, economic geography, and postcolonial and feminist International Political Economy. Alami comprehensively reviews the theories, histories, and geographies of cross-border finance management, and develops a conceptual framework which allows unpacking the complex entanglement of constraint and opportunities, of growing integration and tight discipline, that cross-border finance represents for emerging markets. Extensive fieldwork research provides an in-depth comparative critical interrogation of the policies and regulations deployed in Brazil and South Africa. This volume will be especially useful to those researching and working in the areas of international political economy, contemporary geographies of money and finance, and critical development studies. It should also prove of interest to policy makers, practitioners, and activists concerned with the relation between finance and development in emerging markets and beyond.
The debate about globalisation and its discontents
Why did enduring traditions of economic and political liberty emerge in Western Europe and not elsewhere? Representative democracy, constitutionalism, and the rule of law are crucial for establishing a just and prosperous society, which we usually treat as the fruits of the Renaissance and Enlightenment, as Western European societies put the Dark Ages behind them. In The Medieval Constitution of Liberty, Salter and Young point instead to the constitutional order that characterized the High Middle Ages. They provide a historical account of how this constitutional order evolved following the fall of the Western Roman Empire. This account runs from the settlements of militarized Germanic elites within the imperial frontiers, to the host of successor kingdoms in the sixth and seventh centuries, and through the short-lived Carolingian empire of the late eighth and ninth centuries and the so-called “feudal anarchy” that followed its demise. Given this unique historical backdrop, Salter and Young consider the resulting structures of political property rights. They argue that the historical reality approximated a constitutional ideal type, which they term polycentric sovereignty. Salter and Young provide a theoretical analysis of polycentric sovereignty, arguing that bargains between political property rights holders within that sort of constitutional order will lead to improvements in governance.
This is an important and innovative comparative study of socialist movements and regimes of modernization in the Balkans, encompassing Serbian populism, Bulgarian social democracy and Greek communism. It makes an original contribution both to the history of political ideas and to the political sociology of radical and socialist movements. It provides a fascinating account of the transplantation of ideologies that were adopted from Western Europe and from Russia into the very different environment of the Balkans, and traces their adaptation and their reception in this new environment. Book jacket.
The political process focuses on the ways that people come together to engage in collective decision making in a variety of contexts. The central elements of the political process include: the formation of rules, the subsequent interactions that take place within those rules, and the evolution of rules over time. Scholars working in the area of Virginia political economy—e.g., James Buchanan and Gordon Tullock—emphasize the importance of applying the tools of economics to non-market settings, including politics. Scholars in this tradition focus on both politics and economics to understand the formation of political rules—constitutional political economy—as well as the subsequent play within those rules—public choice. Scholars in the Bloomington School—most notably, Elinor and Vincent Ostrom—have emphasized three important aspects of the political process and political order. The first is the distinction between “rules in form” and “rules in use.” The rules in form refer to codified rules while the rules in use refer to the rules that people actually follow in their daily lives. Together, these dynamics generate the political order. The chapters in this volume explore and engage the key thinkers and ideas of the Virginia and Bloomington schools of political economy. The diversity in topics and approaches will make the volume of interest to readers in a variety of fields, including economics, entrepreneurship, history, political science, and public policy.
"Political economy themes have - directly and indirectly - been a central concern of law and legal scholarship ever since political economy emerged as a concept in the early seventeenth century, a development which was re-inforced by the emergence of political economy as an independent area of scholarly enquiry in the eighteenth century, as developed by the French physiocrats. This is not surprising in so far as the core institutions of the economy and economic exchanges, such as property and contract, are legal institutions.In spite of this intrinsic link, political economy discourses and legal discourses dealing with political economy themes unfold in a largely separate manner. Indeed, this book is also a reflection of this, in so far as its core concern is how the law and legal scholarship conceive of and approach political economy issues"--
By foregrounding the ways that human existence is bound together with the lives of other entities, contemporary cultural theorists have sought to move beyond an anthropocentric worldview. Yet as Eva Haifa Giraud contends in What Comes after Entanglement?, for all their conceptual power in implicating humans in ecologically damaging practices, these theories can undermine scope for political action. Drawing inspiration from activist projects between the 1980s and the present that range from anticapitalist media experiments and vegan food activism to social media campaigns against animal research, Giraud explores possibilities for action while fleshing out the tensions between theory and practice. Rather than an activist ethics based solely on relationality and entanglement, Giraud calls for what she describes as an ethics of exclusion, which would attend to the entities, practices, and ways of being that are foreclosed when other entangled realities are realized. Such an ethics of exclusion emphasizes foreclosures in the context of human entanglement in order to foster the conditions for people to create meaningful political change.