Robust Political Economy Classical Liberalism and the Future of Public Policy

ISBN-10: 1849807655
ISBN-13: 9781849807654
Edition: 2010
Authors: Mark Pennington
List price: $28.00
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Description: This important and insightful book offers a comprehensive defence of classical liberalism against contemporary challenges. It sets out an analytical framework of ?robust political economy' that explores the economic and political problems that arise  More...

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Book details

List price: $28.00
Copyright year: 2010
Publisher: Edward Elgar Publishing Limited
Publication date: 12/31/2010
Binding: Paperback
Pages: 320
Size: 6.00" wide x 9.00" long x 0.75" tall
Weight: 0.594
Language: English

This important and insightful book offers a comprehensive defence of classical liberalism against contemporary challenges. It sets out an analytical framework of ?robust political economy' that explores the economic and political problems that arise from the phenomena of imperfect knowledge and imperfect incentives. Using this framework, the book defends the classical liberal focus on markets and the minimal state from the critiques presented by ?market failure' economics and communitarian and egalitarian variants of political theory. Mark Pennington expertly applies the lessons learned from responding to these challenges in the context of contemporary discussions surrounding the welfare state, international development, and environmental protection.

Mark's research interests lie at the intersection of politics, philosophy and economics with an emphasis on the implications of bounded rationality and imperfect knowledge for institutional design. He has a particular interest in the works of Hayek, public choice theory and related elements of the classical liberal tradition. His earlier work focussed on the political economy of environmental planning and regulation and explored the potential for property rights approaches to environmental problems. His more recent work has explored the implications of bounded rationality in the context of contemporary theories of deliberative democracy.His latest book is called Robust Political Economy: Classical Liberalism and the Future of Public Policy, Cheltenham: Edward Elgar (2011). This work examines challenges to market liberal theory derived from neo-classical economics, communitarian political theory and egalitarian ethical theory and applies the lessons learned in the context of the welfare state, international development and environmental protection.

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