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Radical Economics

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The New Palgrave Dictionary of Economics

Abstract

Contemporary radical economics comprises a broad set of methodological approaches, including Marxian political economy, institutionalism, Post Keynesianism, analytical political economy, radical feminism and postmodernism. Unlike radical economics in the mid-1980s, radical thought today emphasizes conflict other than class conflict, policy-relevant analysis and incorporation of more mainstream methods into radical research. Nonetheless, despite substantial evolution, radical economics remains faithful to its original vision. Uniting the various approaches is a set of unchanged core principles, the three most salient of which are the importance of history, embeddedness of individual choice in an institutional environment, and the centrality of conflict to understanding capitalism.

This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Diane Flaherty

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  1. Diane Flaherty
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    Flaherty, D. (2008). Radical Economics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1627-2

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    • DOI: https://doi.org/10.1057/978-1-349-95121-5_1627-2

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    • Publisher Name: Palgrave Macmillan, London

    • Online ISBN: 978-1-349-95121-5

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    Chapter history

    1. Latest

      Radical Economics
      Published:
      06 March 2017

      DOI: https://doi.org/10.1057/978-1-349-95121-5_1627-2

    2. Original

      Radical Political Economy
      Published:
      18 November 2016

      DOI: https://doi.org/10.1057/978-1-349-95121-5_1627-1

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