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Transcending the arid formalism of present-day economic theory, Frontiers of Political Economy develops a new and accessible perspective on the world economy. Guglielmo Carchedi identifies and analyses three key features of modern capitalism: the rapidly increasing share of human labour needed for the advancement of science and technology rather than for the production of goods; the global, rather than national, nature of production, distribution and consumption; and the dominance of the oligopolies. This analysis enables Carchedi to explore new theoretical frontiers: from an original theory of mental and material labour to an investigation of the conditions under which mental labour produces value; from an assessment of the class structure of modern capitalism to an appraisal of the social content of science and technology; from an alternative account of crises, inflation and stagflation to a study of their relation to the destruction of value and to arms production. He also cast fresh light on a number of basic contemporary issues—including the present financial and monetary crisis—and surveys the most important recent controversies in language accessible to non-specialists. Rigorous and wide-ranging, but written with great lucidity, Frontiers of Political Economy is an essential book for both specialists and students in economics and politics.
This re-incorporation of economics into political economy is one (small, but not insignificant) element in a larger project: to place all of the resources of present-day social-scientific research at the service of increasing democracy, in an ultimate direction toward socialism in the classic sense. An economics-enriched political economy is, above all, empowering: working people in general can calculate, build models, think theoretically, and contribute to a human-worthy future, rather than leaving all this to their "betters."
This introduction to institutional economics, follows the history of the field since the early 20th century until the present day. It concentrates on influential authors in the main schools of institutional economics. Institutional economics is defined as economic thought that considers institutions to be relevant for economic theory, and consequently criticizes the neoclassical mainstream for having pushed them out of the discipline; it deals specially with the nature, the origin, the change of institutions, and their effects on economic performance. It is a family of different theories that were initially influential in economics, then lost much of their weight in the middle half of the 20th century, and eventually recovered significant creative vitality and impact in the last twenty years. The book puts the recent developments in historical perspective by showing how important themes like the importance of habits, the role of formal and informal rules, the relation of organizations and institutions, the hierarchy and complementarity of institutions, the evolutionary character of institutional change, have been explored by various authors or schools.
Democratic Economic Planning presents a concrete proposal for how to organize, carry out, and integrate comprehensive annual economic planning, investment planning, and long-run development planning so as to maximize popular participation, distribute the burdens and benefits of economic activity fairly, achieve environmental sustainability, and use scarce productive resources efficiently. The participatory planning procedures proposed provide workers in self-managed councils and consumers in neighbourhood councils with autonomy over their own activities while ensuring that they use scarce productive resources in socially responsible ways without subjecting them to competitive market forces. Certain mathematical and economic skills are required to fully understand and evaluate the planning procedures discussed and evaluated in technical sections in a number of chapters. These sections are necessary to advance the theory of democratic planning, and should be of primary interest to readers who have those skills. However, the book is written so that the main argument can be followed without fully digesting the more technical sections. Democratic Economic Planning is written for dreamers who are disenamored with the economics of competition and greed want to know how a system of equitable cooperation can be organized; and also for sceptics who demand "hard proof" that an economy without markets and private enterprise is possible.
This volume brings together the work of outstanding feminist scholars who reflect on the achievements of feminist political economy and the challenges it faces in the 21st century. The volume develops further some key areas of research in feminist political economy – understanding economies as gendered structures and economic crises as crises in social reproduction, as well as in finance and production; assessing economic policies through the lens of women’s rights; analysing global transformations in women’s work; making visible the unpaid economy in which care is provided for family and communities, and critiquing the ways in which policy makers are addressing ( or failing to address) this unpaid economy.
Friedrich Hayek was the 20th century’s most significant free market theorist. Over the course of his long career he developed an analysis of the danger that state power can pose to individual liberty. In rejecting much of the liberal tradition’s concern for social justice and democratic participation, Hayek would help clear away many intellectual obstacles to the emergence of neoliberalism in the last quarter of the 20th century. At the core of this book is a new interpretation of Hayek, one that regards him as an exponent of a neo-Roman conception of liberty and interprets his work as a form of ‘market republicanism’. It examines the contemporary context in which Hayek wrote, and places his writing in the long republican intellectual tradition. Hayek’s Market Republicanism will be of interest to advanced students and researchers across the history of economic thought, the history of political thought, political economy and political philosophy.
Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different approaches have not been brought together with a view to enhancing the systematic unification and evaluation of these models. This new volume aims to fill this gap by bringing together four decades’ worth of work by S. I. Cohen on economic modelling for policy making. Work on older models has been rewritten and brought fully up to date, and these older models have therefore been brought back to the fore, both to assess how they influenced more recent models and to see how they could be used today. The focus of the book is on models for development policies in developing economies, but there are some chapters that relate to economic policies in transition and developed economies. The policy areas covered are of typical interest in developing and transition economies. They include those relating to trade liberalization reforms, sustainable development, industrial development, agrarian reform, growth and distribution, human resource development and education, public goods and income transfers. Each chapter contains a brief assessment of the empirical literature on the economic effects of the policy measures discussed in the chapter. The book presents a platform of economic modelling that can serve as a refresher for practising professionals, as well as a reference companion for graduates engaging in economic modelling and policy preparations.
This book constitutes a thorough analysis of the phenomenon of corruption, as seen from the perspective of New Institutional Economics - one of the most influential new schools of thought in the social sciences of the past decade.
Richardson offers a careful analysis of US federal agencies examining the interaction between executive and legislative branches of government, combining Austrian economics, Public Choice and Evolutionary methodology in his approach.
In Neoliberal Frontiers, Brenda Chalfin presents an ethnographic examination of the day-to-day practices of the officials of Ghana’s Customs Service, exploring the impact of neoliberal restructuring and integration into the global economy on Ghanaian sovereignty. From the revealing vantage point of the Customs office, Chalfin discovers a fascinating inversion of our assumptions about neoliberal transformation: bureaucrats and local functionaries, government offices, checkpoints, and registries are typically held to be the targets of reform, but Chalfin finds that these figures and sites of authority act as the engine for changes in state sovereignty. Ghana has served as a model of reform for the neoliberal establishment, making it an ideal site for Chalfin to explore why the restructuring of a state on the global periphery portends shifts that occur in all corners of the world. At once a foray into international political economy, politics, and political anthropology, Neoliberal Frontiers is an innovative interdisciplinary leap forward for ethnographic writing, as well as an eloquent addition to the literature on postcolonial Africa.