Robust Political Economy: Classical Liberalism and the Future of Public Policy (New Thinking in Political Economy Series)

Robust Political Economy Classical Liberalism and the Future of Public Policy New Thinking in Political Economy Series This important book offers a comprehensive defence of classical liberalism against contemporary challenges It sets out an analytical framework of robust political economy that explores the economic an

  • Title: Robust Political Economy: Classical Liberalism and the Future of Public Policy (New Thinking in Political Economy Series)
  • Author: Mark Pennington
  • ISBN: 9781849807654
  • Page: 218
  • Format: Paperback
  • This important book offers a comprehensive defence of classical liberalism against contemporary challenges It sets out an analytical framework of robust political economy that explores the economic and political problems that arise from the phenomena of imperfect knowledge and imperfect incentives Using this framework, the book defends the classical liberal focus on maThis important book offers a comprehensive defence of classical liberalism against contemporary challenges It sets out an analytical framework of robust political economy that explores the economic and political problems that arise from the phenomena of imperfect knowledge and imperfect incentives Using this framework, the book defends the classical liberal focus on markets and the minimal state from the critiques presented by market failure economics and communitarian and egalitarian variants of political theory Mark Pennington expertly applies the lessons learned from responding to these challenges in the context of contemporary discussions surrounding the welfare state, international development, and environmental protection Written in an accessible style, this authoritative book would be useful for both undergraduate and graduate students of political economy and public policy as a standard reference work for classical liberal analysis and a defence of its normative prescriptions The book s distinctive approach will ensure that academic practitioners of economics and political science, political theory and public policy will also find its controversial conclusions insightful.

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      Posted by:Mark Pennington
      Published :2018-02-23T23:38:10+00:00

    1 thought on “Robust Political Economy: Classical Liberalism and the Future of Public Policy (New Thinking in Political Economy Series)”

    1. (Full disclosure: I am working with Mark Pennington, so I will abstain from rating the book.) Incentives matter. Epistemic ignorance matters. This is an excellent primer on libertarian political economy. It show that classical liberalism, far from being riddled with outdated or unreasonable assumptions, can be interpreted as a "robust" framework that envelops a dynamic and evolving notion of society (rather than a static framework), a complex understanding of human motivation (rather than a simp [...]

    2. Pennington's book combines three elements: 1) a theory of robustness 2) a defense of "classical liberalism" against several competing institutional theories and 3) an application of classical liberal institutional theory to contemporary policy areas. A theory of robustness, according to Pennington, evaluates institutions on how they perform under unfavorable conditions. For example, a robust car like a Honda Civic performs well in bad weather or without routine maintenance, while a fragile car l [...]

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