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Rediscovering Political Economy is the title of a book recently published by Lexington Books, edited by Joseph Postell and Bradley C.S. Watson, and including an essay by Fr. Robert Sirico. The Spring 2012 issue the Journal of Markets & Morality will feature a review of the book by Tim Barnett, an associate professor of political science at Jacksonville State University.
Since thats too long to wait for Prof. Barnetts astute observations, we post here an edited and abridged version of the full review.
Continued- http://blog.acton.org/archives/27483-barnett-on-sirico-and-rediscovering-political-economy.html
Since thats too long to wait for Prof. Barnetts astute observations, we post here an edited and abridged version of the full review.
It is not easy to find a book on political economy that starts as well as this one does, with real insights on themes that matter!
The book rises from ten papers presented by notable economic thinkers at a conference co-sponsored by the Heritage Foundation and the Center for Political and Economic Thought (at St. Vincent College, Latrobe, PA). Allegedly, each essay aims to contribute something to the reuniting of economics with political and moral principles, especially in the context of the U.S. Constitution. This is an admirable goal.
Still, as the books organizers point out, economics as a discipline has little capacity to adjudicate between competing presuppositions that underlie the political economy discourse.
There is little in the text to suggest that such capacity has suddenly grown. Nonetheless, it is good that the conference participants have provided interested parties an opportunity to evaluate the observations, rationales and assumptions that inform their endeavor to reseed the logic of moral principles into the field of political economy.
Continued- http://blog.acton.org/archives/27483-barnett-on-sirico-and-rediscovering-political-economy.html