Generalising the political economy of the Classics: the Structural Political Economy approach

The Institute of Economics will hold a seminar meeting as part of its Seminar Series on Thursday, December 9, 2021: Ivano Cardinale from Goldsmith University of London will present the paper "Generalising the political economy of the Classics: the Structural Political Economy approach".

Abstract:

The talk starts by outlining the worldview and analytical principles of Classical Political Economy (CPE) and how they have been systematised and developed in 20th-century structural economic analysis (SEA). It goes on to argue that, in order for that tradition to express its full potential for addressing the interplay between material processes and political conflicts, some key generalisations are needed. This is the purpose of Structural Political Economy approach (SPE). SPE does not assume relevant political-economic aggregations ex ante (such as industries or classes); rather, it explores different possible ways of aggregating social groups and defining their interests depending on the situation under investigation. Moreover, interdependencies in the economy impose the need to keep conflicts within boundaries that are compatible with the viability of the system. Because sectors and groups can be aggregated in different ways, dynamics also depend on how actors represent the system and their position therein, and hence what they understand their interest to be. Different representations give rise to different definitions of competing interests and viability requirements, which in turn generate different endogenous dynamics of the political-economic system.

The seminar will be held in blended mode. In person participation is possible and available seats are allocated on a first come first served basis. For online participation please use the following link.