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Political Economy Commons

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Full-Text Articles in Political Economy

Adam Smith And The Place Of Faction, Sandra J. Peart, David M. Levy Jan 2009

Adam Smith And The Place Of Faction, Sandra J. Peart, David M. Levy

Jepson School of Leadership Studies articles, book chapters and other publications

Our approach to faction focuses on Smith’s account of the interrelation between social distance and small group cohesion. We make the case that social distance is not necessarily constant in Smith’s system. As social distance shrinks, sympathy becomes more habitual and the affection we have for others increases (Peart and Levy, 2005b). Factions reduce social distance, and this gives them power and makes them dangerous. By modifying social distance, they created a disconnect between behavior of which we approve (cooperation) and consequences of which we disapprove. It is in this context that we find virtuous behavior with deleterious ...


2008 Hes Presidential Address: We're All "Persons" Now: Classical Economists And Their Opponents On Marriage, The Franchise, And Socialism, Sandra J. Peart Jan 2009

2008 Hes Presidential Address: We're All "Persons" Now: Classical Economists And Their Opponents On Marriage, The Franchise, And Socialism, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

My purpose is to paint a broad brush narrative—it will have some visual representations as well—of how nineteenth-century political economists and their critics confronted a set of basic and related questions: Are men and women equally capable of self governance? Are they equally able to decide when and whom to marry and how many children to have? Can they be trusted equally to cast a ballot? Is their right to property inviolate or might new arrangements be designed and adopted for the production and distribution of wealth?

This is a story interwoven with extraordinary characters: John Stuart Mill ...


The Wealth Of Nations, Adam Smith, Jonathan B. Wight Jun 2007

The Wealth Of Nations, Adam Smith, Jonathan B. Wight

Bookshelf

The Wealth of Nations is a treasured classic of political economy. First published in March of 1776, Adam Smith wrote the book to influence a special audience - the British Parliament - and its arguments in the early spring of that year pressed for peace and cooperation with Britain's colonies rather than war.

Smith's message was that economic exploitation, through the monopoly trade of empire, stifled wealth-creation in both home and foreign lands. Moreover, protectionism preserved the status quo, and privileged a few elites at the expense of long run growth.

Smith wrote, "It is the industry which is carried ...


Slavery, Economics And Constitutional Ideals, Edward L. Ayers Jan 2002

Slavery, Economics And Constitutional Ideals, Edward L. Ayers

History Faculty Publications

As we think about endings, however, it is also useful to think about beginnings. That is what President Abraham Lincoln did in his Second Inaugural Address, delivered just five weeks before the surrender at Appomattox and his own assassination soon thereafter. All knew, he said reflecting sadly and thoughtfully on how the Civil War came about, that slavery was, "somehow," the cause. In fact, "somehow," however, lay puzzles, contradictions, and questions. The connections between slavery and the Civil War have concerned Americans ever since the events at Appomattox.


The Fruits Of Merchant Capital: Slavery And Bourgeois Property In The Rise And Expansion Of Capitalism (Book Review), Edward L. Ayers Jan 1983

The Fruits Of Merchant Capital: Slavery And Bourgeois Property In The Rise And Expansion Of Capitalism (Book Review), Edward L. Ayers

History Faculty Publications

Review of the book,The Fruits of Merchant Capital: Slavery and Bourgeois Property in the Rise and Expansion of Capitalism by Elizabeth Fox-Genovese and Eugene D. Genovese. New York: Oxford University Press, 1983.