The Constitution of Political Economy: Polity, Society and the Commonweal

Description

The two dominant conceptions of political economy are based on either reducing political decisions to rational-choice reasoning or, conversely, reducing economic structures and phenomena to the realm of politics. In this book, Adrian Pabst and Roberto Scazzieri contend that neither conception is convincing and argue for a fundamental rethinking of political economy. Developing a new approach at the interface of economic theory and political thought, the book shows that political economy covers a plurality of dimensions, which reflect internal hierarchies and multiple relationships within the economic and political sphere. The Constitution of Political Economy presents a new, richer conception of political economy that draws on a range of thinkers from the history of political economy, recognising the complex embedding of the economy and the polity in society. Effective policy-making has to reflect this embedding and rests on the interdependence between local, national, and international actors to address multiple systemic crises.

Adrian Pabst is a scholar in political theory and political economy, with a focus on the role of human dispositions, institutions, and the common weal. His publications include monographs, edited collections and numerous essays. He has held academic appointments at the universities of Nottingham and Kent and leads the public policy team at National Institute of Economic and Social Research where he develops policy proposals and briefs both UK government departments and the opposition. Roberto Scazzieri works in the fields of economic theory and political economy, with a focus on patterns of interdependence and the socio-economic structures arising from them. His contributions span monographs, collections, and journal essays. He has held academic appointments at the Universities of Bologna, Padua and Cambridge. In his capacity as National Fellow of the National Lincei Academy he has developed public policy frameworks and advised regional, national and international bodies.