Political Economy

  1. Major Theoretical Perspectives
    1. Classical Political Economy
      1. Adam Smith
        1. The Wealth of Nations
          1. The Invisible Hand
            1. Self-Interest and Social Benefit
              1. Market Coordination
              2. Division of Labor
                1. Productivity Gains
                  1. Specialization Benefits
                    1. Limitations
                    2. Theory of Moral Sentiments
                      1. Moral Foundations
                        1. Sympathy and Social Order
                      2. David Ricardo
                        1. Principles of Political Economy
                          1. Comparative Advantage
                            1. Trade Theory
                              1. Gains from Trade
                                1. Policy Implications
                                2. Labor Theory of Value
                                  1. Value Determination
                                    1. Labor and Price
                                    2. Distribution Theory
                                      1. Rent Theory
                                        1. Profit and Wages
                                          1. Economic Growth
                                        2. Thomas Malthus
                                          1. Population Principle
                                            1. Population Growth Dynamics
                                              1. Resource Constraints
                                                1. Malthusian Trap
                                                2. Demand Theory
                                                  1. Critiques of Say's Law
                                                  2. John Stuart Mill
                                                    1. Principles of Political Economy
                                                      1. Liberty and Economic Freedom
                                                        1. Role of Government
                                                      2. Marxist Political Economy
                                                        1. Karl Marx and Friedrich Engels
                                                          1. Biographical Context
                                                            1. Major Works
                                                              1. Collaborative Relationship
                                                              2. Historical Materialism
                                                                1. Base and Superstructure
                                                                  1. Mode of Production
                                                                    1. Historical Stages
                                                                      1. Dialectical Change
                                                                      2. Class Analysis
                                                                        1. Class Structure in Capitalism
                                                                          1. Bourgeoisie and Proletariat
                                                                            1. Class Consciousness
                                                                              1. Class Struggle Dynamics
                                                                              2. Theory of Value and Exploitation
                                                                                1. Labor Theory of Value
                                                                                  1. Surplus Value
                                                                                    1. Exploitation Mechanisms
                                                                                      1. Rate of Exploitation
                                                                                      2. Alienation
                                                                                        1. Alienation from Labor
                                                                                          1. Alienation from Product
                                                                                            1. Alienation from Species-Being
                                                                                              1. Alienation from Others
                                                                                              2. Crisis Theory
                                                                                                1. Tendency of Rate of Profit to Fall
                                                                                                  1. Overproduction Crises
                                                                                                    1. Underconsumption
                                                                                                      1. Cyclical Nature of Crises
                                                                                                      2. Neo-Marxist Developments
                                                                                                        1. Antonio Gramsci
                                                                                                          1. Louis Althusser
                                                                                                            1. Dependency Theory
                                                                                                              1. World-Systems Theory
                                                                                                            2. Neoclassical Political Economy
                                                                                                              1. Methodological Foundations
                                                                                                                1. Methodological Individualism
                                                                                                                  1. Rational Choice Assumptions
                                                                                                                    1. Equilibrium Analysis
                                                                                                                      1. Mathematical Modeling
                                                                                                                      2. Rational Choice Theory
                                                                                                                        1. Utility Maximization
                                                                                                                          1. Preference Structures
                                                                                                                            1. Constraints and Optimization
                                                                                                                              1. Behavioral Assumptions
                                                                                                                              2. Market Theory
                                                                                                                                1. Perfect Competition
                                                                                                                                  1. Market Efficiency
                                                                                                                                    1. Pareto Optimality
                                                                                                                                      1. Welfare Economics
                                                                                                                                      2. Market Failures
                                                                                                                                        1. Externalities
                                                                                                                                          1. Positive Externalities
                                                                                                                                            1. Negative Externalities
                                                                                                                                              1. Internalization Mechanisms
                                                                                                                                              2. Public Goods
                                                                                                                                                1. Non-Rivalry
                                                                                                                                                  1. Non-Excludability
                                                                                                                                                    1. Free Rider Problem
                                                                                                                                                    2. Asymmetric Information
                                                                                                                                                      1. Adverse Selection
                                                                                                                                                        1. Moral Hazard
                                                                                                                                                          1. Signaling
                                                                                                                                                        2. Public Choice Theory
                                                                                                                                                          1. Political Markets
                                                                                                                                                            1. Rent-Seeking Behavior
                                                                                                                                                              1. Definition and Examples
                                                                                                                                                                1. Welfare Costs
                                                                                                                                                                2. Collective Action Problems
                                                                                                                                                                  1. Logic of Collective Action
                                                                                                                                                                    1. Interest Group Formation
                                                                                                                                                                    2. Government Failure
                                                                                                                                                                      1. Sources of Government Failure
                                                                                                                                                                        1. Bureaucratic Behavior
                                                                                                                                                                          1. Political Business Cycles
                                                                                                                                                                      2. Keynesian Political Economy
                                                                                                                                                                        1. John Maynard Keynes
                                                                                                                                                                          1. General Theory
                                                                                                                                                                            1. Critique of Classical Economics
                                                                                                                                                                              1. Policy Influence
                                                                                                                                                                              2. Macroeconomic Theory
                                                                                                                                                                                1. Aggregate Demand
                                                                                                                                                                                  1. Consumption Function
                                                                                                                                                                                    1. Investment Function
                                                                                                                                                                                      1. Government Spending
                                                                                                                                                                                        1. Net Exports
                                                                                                                                                                                        2. Multiplier Effects
                                                                                                                                                                                          1. Liquidity Preference
                                                                                                                                                                                            1. Money and Interest Rates
                                                                                                                                                                                            2. Role of Government
                                                                                                                                                                                              1. Economic Stabilization
                                                                                                                                                                                                1. Countercyclical Policy
                                                                                                                                                                                                  1. Full Employment Goal
                                                                                                                                                                                                    1. Fiscal Activism
                                                                                                                                                                                                    2. Policy Tools
                                                                                                                                                                                                      1. Fiscal Policy
                                                                                                                                                                                                        1. Government Spending
                                                                                                                                                                                                          1. Taxation
                                                                                                                                                                                                            1. Automatic Stabilizers
                                                                                                                                                                                                            2. Monetary Policy
                                                                                                                                                                                                              1. Interest Rate Policy
                                                                                                                                                                                                                1. Money Supply
                                                                                                                                                                                                              2. Uncertainty and Expectations
                                                                                                                                                                                                                1. Animal Spirits
                                                                                                                                                                                                                  1. Investment Behavior
                                                                                                                                                                                                                    1. Confidence and Economic Activity
                                                                                                                                                                                                                    2. Post-Keynesian Developments
                                                                                                                                                                                                                      1. Joan Robinson
                                                                                                                                                                                                                        1. Nicholas Kaldor
                                                                                                                                                                                                                          1. Modern Monetary Theory
                                                                                                                                                                                                                        2. Austrian School
                                                                                                                                                                                                                          1. Methodological Approach
                                                                                                                                                                                                                            1. Methodological Individualism
                                                                                                                                                                                                                              1. Praxeology
                                                                                                                                                                                                                                1. Subjective Value Theory
                                                                                                                                                                                                                                2. Friedrich Hayek
                                                                                                                                                                                                                                  1. Spontaneous Order
                                                                                                                                                                                                                                    1. Market Process
                                                                                                                                                                                                                                      1. Emergence without Planning
                                                                                                                                                                                                                                      2. Knowledge Problem
                                                                                                                                                                                                                                        1. Dispersed Knowledge
                                                                                                                                                                                                                                          1. Price System as Information
                                                                                                                                                                                                                                          2. Road to Serfdom
                                                                                                                                                                                                                                          3. Ludwig von Mises
                                                                                                                                                                                                                                            1. Economic Calculation Problem
                                                                                                                                                                                                                                              1. Socialist Calculation Debate
                                                                                                                                                                                                                                                1. Role of Prices
                                                                                                                                                                                                                                                2. Human Action
                                                                                                                                                                                                                                                  1. Business Cycle Theory
                                                                                                                                                                                                                                                  2. Austrian Business Cycle Theory
                                                                                                                                                                                                                                                    1. Credit Expansion
                                                                                                                                                                                                                                                      1. Malinvestment
                                                                                                                                                                                                                                                        1. Boom and Bust Cycles
                                                                                                                                                                                                                                                        2. Contemporary Austrian Economics
                                                                                                                                                                                                                                                          1. Murray Rothbard
                                                                                                                                                                                                                                                            1. Israel Kirzner
                                                                                                                                                                                                                                                          2. Institutional Political Economy
                                                                                                                                                                                                                                                            1. Old Institutional Economics
                                                                                                                                                                                                                                                              1. Thorstein Veblen
                                                                                                                                                                                                                                                                1. Theory of the Leisure Class
                                                                                                                                                                                                                                                                  1. Conspicuous Consumption
                                                                                                                                                                                                                                                                    1. Evolutionary Economics
                                                                                                                                                                                                                                                                      1. Institutional Change
                                                                                                                                                                                                                                                                      2. John R. Commons
                                                                                                                                                                                                                                                                        1. Collective Action
                                                                                                                                                                                                                                                                          1. Institutional Economics
                                                                                                                                                                                                                                                                          2. Wesley Mitchell
                                                                                                                                                                                                                                                                            1. Business Cycles
                                                                                                                                                                                                                                                                              1. Empirical Research
                                                                                                                                                                                                                                                                            2. New Institutional Economics
                                                                                                                                                                                                                                                                              1. Transaction Cost Economics
                                                                                                                                                                                                                                                                                1. Ronald Coase
                                                                                                                                                                                                                                                                                  1. Transaction Costs
                                                                                                                                                                                                                                                                                    1. Firm Boundaries
                                                                                                                                                                                                                                                                                    2. Property Rights Theory
                                                                                                                                                                                                                                                                                      1. Armen Alchian
                                                                                                                                                                                                                                                                                        1. Harold Demsetz
                                                                                                                                                                                                                                                                                          1. Economic Performance
                                                                                                                                                                                                                                                                                          2. Douglass North
                                                                                                                                                                                                                                                                                            1. Institutions and Growth
                                                                                                                                                                                                                                                                                              1. Path Dependence
                                                                                                                                                                                                                                                                                                1. Institutional Change
                                                                                                                                                                                                                                                                                                2. Oliver Williamson
                                                                                                                                                                                                                                                                                                  1. Governance Structures
                                                                                                                                                                                                                                                                                                    1. Asset Specificity
                                                                                                                                                                                                                                                                                                  2. Comparative Institutionalism
                                                                                                                                                                                                                                                                                                    1. Varieties of Capitalism
                                                                                                                                                                                                                                                                                                      1. Institutional Complementarities
                                                                                                                                                                                                                                                                                                        1. Institutional Competition

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                                                                                                                                                                                                                                                                                                    1. Introduction to Political Economy

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                                                                                                                                                                                                                                                                                                    3. The State and the Economy