Introduction

Introduction

What is political economy?
1. Economics
  1. How goods + services are produced + distrubted
2. Political Economy
  1. Economic processes together with political processes
  2. Fundamentally about power
3. Formal + Informal rules governing...
  1. Labour
  2. Markets
  3. Trade
  4. Property
4. Bernstein's Qs of PE
  1. Who does what?
    1. Labour
  2. Who owns what?
    1. Property
  3. Who gets what?
    1. Distribution
  4. What do the do with it + how?
    1. Consumption
    2. Reproduction
    3. Accumulation
Capitalism
1. Key Theorists
  1. Concerned with understanding capitalism
    1. Understood through feudalism
  2. Adam Smith
    1. Economic growth
      1. Division of labour increases wealth
    2. Prices determined by supply + demand
    3. Extent of the market matters
      1. Free trade is in the interest of the nation
    4. Concerned with negative effects of markets
      1. Identified role for govt
  3. David Ricardo
    1. Labour theory of value
    2. Theory of rent
    3. Theory of comparative advantage
  4. Karl Marx
    1. Modes of production
      1. Feudalism
      2. Capitalism
      3. Communism
    2. Exploitation through extracting surplus value
      1. 'Free' labour
      2. Commodity fetishism
    3. Dependent upon primitive accumulation
    4. Capital as a social relation
    5. Devmnt. of proletariat + declining rates of profit
      1. Capitalism contains seeds of own production
  5. Karl Polany
    1. Social construction of markets
      1. Market not a natural outcome
    2. Market society
      1. Markets vs system of self-regulation
      2. Fictitious commodities
      3. Reciprocity + redistribution vs profit + gain
      4. State intervention key
    3. Double movement
      1. Society responds to protect tself
2. Goods + services primarily exchanged through markets
3. Expanding + appears to be dominant
  1. But not the only means of production/distribution
Geographical PE
1. PE + space co-produced
2. Largely draws on Marxist PE
3. Capital relies on mobility
  1. Shifting investment
    1. Terms of labour
    2. Regulations
    3. Resurces
    4. Markets
4. Capital needs some stability
  1. Harvey: spatial fix
  2. Smith: uneven devmnt.
  3. Massey: spatial division of labour

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	Created by jonnie_missin about 11 years ago