Monthly Archives: June 2011

Dangerous Oversimplifications and American Political Economy: A Prologue

A very insidious change occurred around 1890, when the study of “political economy” became the discipline of “economics,” following the great Alfred Marshall’s publication of Principles of Economics.  I say “insidious” because the term “political economy” reminds us to study not merely prices, supply, and efficiency, but the institutions, laws, and policies that simultaneously enable […]