This book brings together leading contributors to explore the development of political economy in eighteenth century France from an interdisciplinary perspective, in particular the ideas for social reform proposed before the Revolution. Political economy in the Eighteenth century encompassed not only what we traditionally regard as economics but also moral philosophy, natural jurisprudence and political theory. This volume explores the different arguments that were made for reforming the economic organisation of the Ancien Régime before the French Revolution. In doing so, the contributors show that political economy in France laid the foundation for social reform ideas throughout the whole of the eighteenth century.

Mainstream economics was founded on many strong assumptions. Institutions and politics were treated as irrelevant, government as exogenous, social norms as epiphenomena. As an initial gambit this was fine. But as the horizons of economic inquiry have broadened, these assumptions have become hindrances rather than aids. If we want to understand why some economies succeed and some fail, why some governments are effective and others not, why some communities prosper while others stagnate, it is essential to view economics as embedded in politics and society. Prelude to Political Economy is a study of this embeddedness; it argues for an 'inclusive' approach to institutions and the state. Modern economics recognizes that individuals' pursuit of their own selfish ends can result in socially suboptimal outcomes - the Prisoner's Dilemma being the stark example. It has been suggested that what we need in such an eventuality is 'third-party' intervention, which can take the form of imposing punishment on players. Kaushik Basu objects to this method of wishing third parties out of thin air. He argues that if a third party that could impose its will on others were available, then it should have been modeled as a player to start with. The adoption of such an inclusive approach has implications for our conception of the state and the law. It means that the law cannot be construed as a factor that changes the game that citizens play. It is instead simply a set of beliefs of citizens; and, as such, it is similar to social norms. What the law does for an economy, so can social norms. The book discusses how the nature of policy advice and our conception of state power are affected by this altered view of the state and the law. As corollaries, the book addresses a variety of important social and philosophical questions, such as whether the state should guarantee freedom of speech, whether determinism is compatible with free will, and whether the free market can lead to coercion.

An investigation of the thought, activity and influence of the economist and social reformer Schmoller in the era of Bismarck.

Not only did these Tudor thinkers condemn widespread poverty and suffering, expressing a social concern that was unprecedented among the privileged of their day, they were also among first Europeans to base their analysis and protest on the available empirical evidence. Without opposing the status quo they were fashioning an economic conception of the state, perhaps their chief claim for being remembered

This book examines how a society that is trapped in stagnation might initiate and sustain economic and political development. In this context, progress requires the reform of existing arrangements, along with the complementary evolution of informal institutions. It involves enhancing state capacity, balancing broad avenues for political input, and limiting concentrated private and public power. This juggling act can only be accomplished by resolving collective-action problems (CAPs), which arise when individuals pursue interests that generate undesirable outcomes for society at large. Merging and extending key perspectives on CAPs, inequality, and development, this book constructs a flexible framework to investigate these complex issues. By probing four basic hypotheses related to knowledge production, distribution, power, and innovation, William D. Ferguson offers an analytical foundation for comparing and evaluating approaches to development policy. Navigating the theoretical terrain that lies between simplistic hierarchies of causality and idiosyncratic case studies, this book promises an analytical lens for examining the interactions between inequality and development. Scholars and researchers across economic development and political economy will find it to be a highly useful guide.

In this book, Federico Sturzenegger and Mariano Tommasi propose formal models to answer some of the questions raised by the recent reform experience of many Latin American and eastern European countries.

A theoretical framework for analyzing the complex relationship of education, growth, and income distribution. The dominant role played by the state in the financing, regulation, and provision of primary and secondary education reflects the widely-held belief that education is necessary for personal and societal well-being. The economic organization of education depends on political as well as market mechanisms to resolve issues that arise because of contrasting views on such matters as income inequality, social mobility, and diversity. This book provides the theoretical framework necessary for understanding the political economy of education—the complex relationship of education, economic growth, and income distribution—and for formulating effective policies to improve the financing and provision of education. The relatively simple models developed illustrate the use of analytical tools for understanding central policy issues. After offering a historical overview of the development of public education and a review of current econometric evidence on education, growth, and income distribution, the authors lay the theoretical groundwork for the main body of analysis. First they develop a basic static model of how political decisions determine education spending; then they extend this model dynamically. Applying this framework to a comparison of education financing under different regimes, the authors explore fiscal decentralization; individual choice between public and private schooling, including the use of education vouchers to combine public financing of education with private provision; and the social dimension of education—its role in state-building, the traditional "melting pot" that promotes cohesion in a culturally diverse society.

This book is a discourse on modelling Man in a social context. Its focus is on economic main-stream theory in its capacity to handle basic problems such as uncertainty, social dynamics and ethics. The point of departure is a systematic critique of the specific methodology of economics and its axiomatic structure. The ultimate aim is to develop an economic theory for a socially sustainable society. Economic Theory and Social Change analyses the foundation of economic market theory in relation to its social implications. On rejecting the axiomatic structure of the market theory Hasse Ekstedt and Angelo Fusari analyse the concept of growth and uncertainty with respect to a more realistic modelling of man, The book also addresses central political problems and their potential solutions, including permanent unemployment, distribution of income, the interaction of real and financial growth, money and the credit system. In seeking objective values to help to obtain a socially sustainable society, the book traces a tentative revision of economic and social thought based on a deepening of some crucial features of modern economies and societies. These features include innovation, the connected flows of uncertainty, entrepreneurship, and their role in fuelling and characterizing economic growth and development. This book will be of interest to postgraduate students and researchers of Economics, particularly to those focussing on Economic Theory and Political Economy.