Political economy is the study of decentralized and centralized mechanisms for allocating resources and distributing incomes: markets and states. Both markets and states can be organized and combined in a variety of ways and they jointly determine what the economy produces as well as who gets what. The purpose of this book is to introduce the reader to the concepts and tools for studying relations between states and markets. The focus is methodological. Both the economy and the state are analyzed as networks of relations between principals and agents, occupying particular places in the institutional structure. Having introduced the principal-agent framework, the book analyzes systematically the effect of the organization of the state on the functioning of the economy. The central question is under what conditions government will do what they should be doing and not do what they should not.
1. Introduction; Part I. Decentralized Mechanisms: 2. Market miracles and market failures; 3. Incomplete markets, imperfect information; 4. Principal-agent framework; Part II. Centralized Mechanisms: 5. The state; 6. Governments and private agents: regulation; 7. Politicians and bureaucrats: oversight; 8. Citizens and politicians: representation; Part III. The State and the Economy: 9. Government and economic growth; 10. Government and redistribution; 11. Government and insurance; 12. Epilogue; 13. Additional references.
"Przeworski has the ambition to address the big questions, the ability to answer them, and the tenacity to make the answers correct. This book is part of a dying breed: it is a general introduction with enough depth that even the most advanced reader can learn something from it. Written in a feisty, accessible style, it puts the political back into political economy." Michael Munger, Duke University
Luiz Carlos Bresser Pereira, José María Maravall, Adam Przeworski, José María Maravall, Jose Maria (Universidad Politecnica de Madrid) Maravall, Adam (University of Chicago) Przeworski, Jose Maria Maravall
Luiz Carlos Bresser Pereira, José María Maravall, Adam Przeworski, José María Maravall, Jose Maria (Universidad Politecnica de Madrid) Maravall, Adam (University of Chicago) Przeworski, Luiz Carlos Bresser Pereira, Pereira
José María Maravall, Adam Przeworski, José María Maravall, Madrid) Maravall, Jose Maria (Center for the Advanced Study of the Social Sciences, Adam (New York University) Przeworski, Jose Maria Maravall
Adam Przeworski, Susan C. Stokes, Bernard Manin, Adam (New York University) Przeworski, Paris) Stokes, Susan C. (University of Chicago and CREA, Bernard (New York University) Manin
Adam Przeworski, Michael E. Alvarez, Jose Antonio Cheibub, Fernando Limongi, Adam (New York University) Przeworski, Chicago) Alvarez, Michael E. (DePaul University, Connecticut) Cheibub, Jose Antonio (Yale University, Fernando (Universidade de Sao Paulo) Limongi
Adam Przeworski, Susan C. Stokes, Bernard Manin, Adam (New York University) Przeworski, Paris) Stokes, Susan C. (University of Chicago and CREA, Bernard (New York University) Manin
David Austen-Smith, Jeffry A. Frieden, Miriam A. Golden, Karl Ove Moene, Adam Przeworski, Illinois) Austen-Smith, David (Northwestern University, Massachusetts) Frieden, Jeffry A. (Harvard University, Los Angeles) Golden, Miriam A. (University of California, Karl Ove (Universitetet i Oslo) Moene, Adam (New York University) Przeworski
José María Maravall, Adam Przeworski, José María Maravall, Madrid) Maravall, Jose Maria (Center for the Advanced Study of the Social Sciences, Adam (New York University) Przeworski, Adam Maravall, José María
Adam Przeworski, Michael E. Alvarez, Jose Antonio Cheibub, Fernando Limongi, Adam (New York University) Przeworski, Chicago) Alvarez, Michael E. (DePaul University, Connecticut) Cheibub, Jose Antonio (Yale University, Fernando (Universidade de Sao Paulo) Limongi
Adam Przeworski, Susan C. Stokes, Bernard Manin, Adam (New York University) Przeworski, Paris) Stokes, Susan C. (University of Chicago and CREA, Bernard (New York University) Manin