Moral Political Economy: Present, Past, and Future

Economies and government institutions reflect a moral and political choice, and the challenges of today reveal the need for a new moral political economy that recognizes the politics in political economy and redesigns social, economic, and governing institutions based on assumptions about humans as social beings.

Format: Paperback / softback
Length: 75 pages
Publication date: 24 June 2021
Publisher: Cambridge University Press

Economies, and the government institutions that underpin them, are not mere abstractions but rather manifestations of a moral and political choice that we possess the power to shape and redefine. Since the dawn of industrialization and democratization in the late eighteenth century, a remarkable succession of political and economic frameworks has emerged, reflecting the profound changes in technology, knowledge, trade, global connections, political power, and the expansion of citizenship. However, the challenges we face today underscore the urgent need for a new moral political economy that recognizes the inseparable link between politics and economics. It demands a fundamental redesign of our social, economic, and governing institutions, grounded in a recognition of humans as social beings rather than narrow self-serving individualists.

This Element makes a significant stride towards building a new moral political economy by presenting a theory of change and offering guiding principles for institutional (re)design. It encourages us to embrace a more holistic and inclusive perspective, recognizing that economic decisions and policies have far-reaching social and environmental consequences. By integrating a moral dimension into our economic thinking and practices, we can strive to create a more equitable, sustainable, and prosperous society for all.

In conclusion, economies, and the government institutions that support them, are not static entities but dynamic expressions of our moral and political choices. By embracing a new moral political economy, we can strive to create a more just, equitable, and sustainable world for present and future generations.

Weight: 152g
Dimension: 151 x 228 x 9 (mm)
ISBN-13: 9781108819398