Political Economy and Development
Political economy and the theory of economic and social development have long been fellow travellers, sharing an interdisciplinary and multi-dimensional character. Over the last fifty years, mainstream economics has become totally formalistic, attaching itself to increasingly narrow methods and techniques at the expense of other approaches. Despite this narrowness, neoclassical economics has expanded its domain of application to other social sciences, but has shown itself incapable of addressing social phenomena and coming to terms with current developments in the world economy.
With world financial crises no longer a distant memory, and neoliberalism and postmodernism in retreat, prospects for political economy have strengthened. It allows constructive liaison between the dismal and other social sciences and rich potential in charting and explaining combined and uneven development.
This series’ objective supports revival and renewal of political economy both in itself and in dialogue with other social sciences. Drawing on rich traditions, we invite contributions that constructively engage with heterodox economics, critically assess mainstream economics, address contemporary developments, and offer alternative policy prescriptions.
Ben Fine is Professor of Economics at the School of Oriental and African Studies, University of London. He is the author of Theories of Social Capital (Pluto, 2010) and co-authored the award-winning books From Political Economy to Economics: Method, the Social and the Historical in the Evolution of Economic Theory (2009) and From Economics Imperialism to Freakonomics: The Shifting Boundaries between Economics and Other Social Sciences (2009) both by Routledge.
Dimitris Milonakis is Professor of Political Economy at the Department of Economics, University of Crete. He co-authored with Ben Fine the award winning books “From Political Economy to Economics: Method, the Social and the Historical in the Evolution of Economic Theory” (2009) and “From Economics Imperialism to Freakonomics: The Shifting Boundaries between Economics and Other Social Sciences” (2009) both by Routledge.