The decline and rise of political economy

Political economy and Public Choice emerged in the mid-1960s as sub-disciplines involving economists, political scientists, and legal scholars. Interestingly, political economy was present at the birth of these fields of inquiry but was displaced by new specialized disciplines. This essay offers an...

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Bibliographic Details
Published in:European Journal of Political Economy 1990, Vol.6 (2), p.165-179
Main Author: Yandle, Bruce
Format: Article
Language:English
Subjects:
Political economy
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Summary:Political economy and Public Choice emerged in the mid-1960s as sub-disciplines involving economists, political scientists, and legal scholars. Interestingly, political economy was present at the birth of these fields of inquiry but was displaced by new specialized disciplines. This essay offers an economic explanation of the decline and rise of political economy. The theory presented suggests that political economy experiences a rebound following periods of increased government intervention. But instead of inducing further specialization, the impulse leads to unification within and among disciplines.
ISSN:0176-2680
1873-5703
DOI:10.1016/0176-2680(90)90050-S