Introduction to Political Economy

By Charles Sackrey, Geoffrey Schneider, and Janet Knoedler

Intro to Political Economy cover
Date of publication:
August 2013

This clearly-written, cogent textbook presents the history of economic thought through the work of some of the most influential economists of modern times—Smith, Marx, Veblen, Keynes, Galbraith, Baran, Sweezy, and Braverman.

Introduction to Political Economy covers these thinkers' central ideas, including their writings on social class, the role of government in taming capitalist economies, and the misleading assumptions about human behavior in mainstream models. It also includes classic critiques of monopoly capitalism, examines the Swedish "middle way" between capitalism and socialism, and presents a contemporary case study, the Mondragón cooperative in Spain's Basque country.

The thoroughly updated and revised 7th edition includes new material on austerity, globalization, resource rents, behavioral economics (Kahneman), and financial instability (Minsky).

Introduction to Political Economy offers a pedagogical gold mine to any teacher seeking to revive the depth and, dare I say it, the excitement of political economy as a way of understanding how the world works. Your students will cheer.

—William F. Grover, Chairman, Department of Political Science, Saint Michael's College

I have used Introduction to Political Economy successfully in my classes for several years now. It explains the major political economy approaches in a way that is clear, concise, and engaging. For students who want to understand the world, it is required reading.

—Marty Wolfson, Director, Higgins Labor Studies Program, University of Notre Dame

I use Introduction to Political Economy at the beginning of my doctoral seminar on the environment of public administration. Class members enjoy learning about the history of political economy, and the contrast drawn between U.S. and European models produces great discussion of alternatives. Throughout the semester, concepts from the book inform our in-class dialogue, enriching the learning experience. I recommend this book to teachers who want to give students a broad view of political economy and its importance for contemporary public affairs.

—Richard Box, School of Public Administration, University of Nebraska at Omaha