Political Economy

Abstract

Arguably, political economy—the intersection of economics and politics—is the foundation of the modern social sciences and the focus of founding sociological theorists, most notably Max Weber, Karl Marx, and Friedrich Engels. Arguably, with his extended concern for the division of labor, even Emile Durkheim was profoundly concerned with political economy. Although this is not the case for economics and political science, the meaning of political economy has been fairly consistent in sociology. That is, the sociological examination of political economy has retained a focus on the intersection between the political and the economic. Theoretical emphases have shifted in the course of lively and extended debates over the state, markets, social class, culture, citizens, and globalization. Nevertheless, the central focus of political economy has persisted, as has its importance to sociological theory.

Wicked Problem of Regional Development Policy in Iceland

“…To reduce inequalities and bring prosperity, various policies have and continue to be implemented -often in response to critical issues at any given time. Using a political economy approach, which emphasises the intersection between the political and economic (Hooks & Crookston 2013), these policies have prioritized economic growth as their main goal, despite increasing emphasis on sustainable development over the past three decades. Post-development thinking rejects economic growth as the goal of development, claiming that it neither has reduced inequalities nor brought prosperity to those areas defined as underdeveloped or lagging (Omar 2012).…”

Production and marketing innovations in Fair Trade and organic coffee cooperatives in the Córdoba-Huatusco corridor in Veracruz, Mexico

“…Among the two there is a continuum of ideas and policy proposals that link market and government in ways that benefits from each institution are captured, while negative effects are minimized. During the last century, growth, distribution, and stability were recognized as having important political as well as economic dimensions (Hooks & Crookston, 2013). Deterioration of the environment and disparities in wealth growth among nations, private companies, and individuals has brought conflicts.…”

“…Political economy focuses on understanding the interplay among political, economic, and social phenomena involving the State, markets, social class, culture, and civil society (Hooks & Crookston, 2013). A political economy framework is useful here for analyzing the effects of structural adjustment as an integral part of the neoliberal approach to the coffee sector.…”