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Contemporary Political Economy: Common and Contested Terrain
Author(s) -
STILWELL FRANK
Publication year - 1988
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1988.tb02036.x
Subject(s) - marxist philosophy , politics , economics , environmentalism , value (mathematics) , mainstream economics , heterodox economics , international political economy , political economy , neoclassical economics , positive economics , economy , applied economics , political science , law , machine learning , computer science
This paper analyzes the nature of contemporary political economy. The attempt to distinguish political economy from orthodox economics according to the role played by value‐judgements or policy prescriptions is rejected as misleading. Instead the principal concerns of political economy are identified by reference to six contributory currents of thought, ranging from the critique of neoclassical economics and the reconstruction of Keynesian economics, through the development of Marxist and institutional analyses, to the influence of feminism and environmentalism. The paper concludes with some comments on the place of political economy in the university curriculum.