Political Economy: A Comparative Approach

This text is designed to provide a balance to the exclusive focus on technique that has come to dominate recent economic education. By integrating material from political theory, sociological theory, and philosophy with economic analysis, Barry Clark provides a comprehensive overview of political/economic thought and reveals the underlying value judgments and ideological commitments that fuel debates over public policy. He offers a historical perspective, tracing contemporary debates back to their origins in the European industrialization process; a comparative approach, examining various political/economic perspectives and ideologies; and an integrative viewpoint, including both positive and normative approaches to understanding society.

Recognizing the absence of any consensus about the meaning of political economy, Clark begins his work with a two-chapter introduction to the alternative meanings and historical evolution of political economy. The next four chapters present detailed analyses of the thinkers and perspectives that make up four comparative approaches: Classical Liberal, Radical, Conservative, and Modern Liberal. The final nine chapters cover major issues in modern political economy, and for each issue the analysis and policies offered by each of the four ideologies are considered. Among the topics addressed are the role of government, business cycles, poverty, labor relations, discrimination, gender, the environment, and international development. This work is designed as a textbook for a semester-long course in Political Economy, History of Economic Thought, or Political Theory, and will also be a valuable supplemental resource for economics and political science courses. Public and academic libraries will find it to be a valuable addition to their collections.