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Contemporary Political Economy: Common and Contested Terrain

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  • FRANK STILWELL

Abstract

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.

Suggested Citation

  • Frank Stilwell, 1988. "Contemporary Political Economy: Common and Contested Terrain," The Economic Record, The Economic Society of Australia, vol. 64(1), pages 14-25, March.
    • Handle: RePEc:bla:ecorec:v:64:y:1988:i:1:p:14-25
    DOI: 10.1111/j.1475-4932.1988.tb02036.x
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    File URL: https://doi.org/10.1111/j.1475-4932.1988.tb02036.x
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    References listed on IDEAS

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    1. Daniel R. Fusfeld, 1977. "The Development of Economic Institutions," Journal of Economic Issues, Taylor & Francis Journals, vol. 11(4), pages 743-784, December.
    2. H.W. Arndt, 1985. "Political Economy: A Reply," The Economic Record, The Economic Society of Australia, vol. 61(4), pages 752-752, December.
    3. Morishima, Michio, 1974. "Marx in the Light of Modern Economic Theory," Econometrica, Econometric Society, vol. 42(4), pages 611-632, July.
    4. Evan Jones, 1977. "Positive Economics or What?," The Economic Record, The Economic Society of Australia, vol. 53(3), pages 350-363, September.
    5. repec:bla:ecorec:v:53:y:1977:i:142&143:p:350-63 is not listed on IDEAS
    6. repec:bla:ecorec:v:61:y:1985:i:175:p:752 is not listed on IDEAS
    7. P.D. Groenewegen, 1985. "Professor Arndt on Political Economy: A Comment," The Economic Record, The Economic Society of Australia, vol. 61(4), pages 744-751, December.
    8. repec:bla:ecorec:v:61:y:1985:i:175:p:744-51 is not listed on IDEAS
    9. Thurow, Lester, 1983. "Dangerous Currents: The State of Economics," OUP Catalogue, Oxford University Press, number 9780198771838.
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    Cited by:

    1. Frank Stilwell, 2019. "From Economics to Political Economy: Contradictions, Challenge, and Change," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(1), pages 35-62, January.
    2. Tim Thornton, 2013. "The Narrowing of the Australian University Economics Curriculum: An Analysis of the Problem and a Proposed Solution," The Economic Record, The Economic Society of Australia, vol. 89, pages 106-114, June.

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