This volume serves as an introduction to the field of positive political economy and the economic and political processes with which it is concerned. This new research tradition is distinct from both normative and historical approaches to political economy. Grounded in the rational-actor methodology of microeconomics, positive political economy is the study of rational decisions in a context of political and economic institutions. More analytical than traditional approaches, it is concerned with the derivation of principles and propositions against which real-world experience may be compared. Its focus is on empirical regularities, and its goal is theoretical explanation. The field has focused on three main areas of research: models of collective action, constraints on competitive market processes, and the analysis of transaction costs. Developments in all of these areas are covered in the book. The first part of the volume surveys the field, while the second part displays positive political economy at work, examining a variety of subjects. The final part contains essays by leading political economists on the theoretical foundations of the field.

This volume contains original essays by outstanding scholars working within several of the dominant genres in contemporary political economy: neoclassical public finance, public choice, and Marxian analysis. Critical overviews of some of their major themes are offered in my introductory chapter and in Warren J. Samuels' concluding one, while more focused, if briefer, comments by other scholars follow each of the theoretical presen tations in chapters 2 through 4. The book's aim is to alert, inform, and possibly provoke readers to a more careful examination of the important and manifold problems of theory and analysis raised by authors whose points of entry into the subject of political economy often differ substan tially. At a time when problems of economic performance and political management frequently seem to have become not only severe but intrac table, it is not unwise to consider again the ways in which greater sense might be made of these crucial matters. The book's dialectical organization is intended to encourage readers to consider insights and objections that may not have been otherwise appar ent and, hence, to reflect in a more critical fashion upon the limitations and advantages of various visions in this complicated and sometimes disorderly field. Since I am of the opinion that no fully satisfactory syn thesis of the perspectives presented here is (probably ever) possible, no Procrustes has been summoned to make the attempt.

The book responds to the need for greater clarity regarding the relationship between descriptive, evaluative and prescriptive approaches within positive and normative economics. It also analyses the entanglement between evaluative and prescriptive perspectives within several theoretical frameworks in normative economics such as social choice theory, the capability approach, behavioural welfare economics and various theories of justice. It provides a forum for discussion between various schools of economic thought and several theoretical frameworks on the relationship between the study of facts, norms and values, with particular emphasis on classical political economy, the Marxian school of economics, the Frankfurt School, the Austrian school, the Chicago school, rational choice theory, expected utility theory, behavioural economics, experimental economics, development economics, welfare economics, public economics, constitutional political economy, the capability approach and politico-economic theories of justice. Given the scope of questions treated in this book, it will be of interest to economists, historians of economic thought, political philosophers and philosophers of science, especially those interested in the philosophy and epistemology of economics.

This book examines important issues on the relationship between economics and political values or ideologies, by analysing the main branches of economic theory in an historical perspective and their impact on economic policy. The book is structured as follows: Part I: Positive Economics? 1. The Positive-Normative Distinction in the History of Economic Thought Part II: Policy Objectives 2. The Objectives of Economic Policies: An Historical Review

This collection of contributed work is concerned mainly with developments in the neo-classical tradition of political economics, and examines the role played by rational choice in the decision-making processes of firms and the state.

Positive Political Economy investigates how observed differences in institutions affect political and economic outcomes in various social, economic and political systems. It also examines how the institutions themselves change and develop in response to individual and collective beliefs, preferences and strategies. This volume tackles both monetary and real topics in an integrated way, and represents the first coherent empirical investigation of positive models of political economy.

This collection makes a valuable theoretical and empirical contribution to the study of Political Economy. The book covers a wide range of approaches currently in vogue, coupled with an exploration of areas in commonality, thus rendering it a more effective introduction to Political Economy than many of the purpose written, but highly partial, existing texts. The individual papers, while summarizing the established literature in each field, also contribute much that is new and of considerable value to the further development of the subject.

This book delves into the Fast Track Land Reform Programme (FTLRP) in Zimbabwe to provide insight into how it facilitated the delivery of housing for low-income urban households. It highlights the politics of land reforms and the power of community engagement in housing development in urban areas. Prior to the FTLRP, the Zimbabwean governments had never embraced popular modes of housing production as key factors in urban development. In the area of low-income housing, informal housing schemes have always been treated with apathy and indifference. This left the conventional mode of housing production to be the only legitimate means to house low-income households despite its shortcomings. However, the onset of the FTLRP in 2000 resulted in homeless urban households grasping the opportunity to invade farms for housing development. Through the lenses of Marxism and Neoliberalism, this book analyses housing schemes that emerged and the overall impact of the FTLRP on housing and land delivery in Harare. This analysis is based on empirical evidence obtained from key informants and household surveys conducted in Harare. The authors argue that the FTLRP provided a platform for innovativeness by households, supported by the unpronounced national urban vision and prowess of the political leadership. Hence the success of these housing schemes can be measured by acquisition of land which guarantees households access to the city. However, some of these housing schemes pose challenges – key among them being lack of infrastructure. The book concludes by presenting a new model for effective delivery of land and housing for the urban poor. This is envisaged as a useful policy tool for urban planners, housing experts, land economists, urban and regional geographers, as well as sociologists, political scientists and social workers engaged in public administration of land and housing.

With over 25% new material, this new edition of Environmental and Natural Resources Economics offers an accessible and balanced treatment of economic theory and policy relating to the environment, as well as a thorough overview of the economics of sustainability. Intended for both students and practioners, the book has been completely updated to include discussion and analysis of the latest U.S. and international environmental policy initiatives -- such as the Kyoto Protocol--and how they affect the global economy. Fully-integrated web source linkages have also been added throughout to enable all readers to make better use of the book's own website and a myriad of other available internet resources for research and supplemental reading on this crucial subject