Radical Political Economy: A Concise Introduction

Radical political economy is a school of economic thought that emerged in the late 20th century as a critique of mainstream economics. Radical political economists argue that the capitalist system is inherently unjust and exploitative, and that it must be replaced with a more egalitarian and democratic economic system.

Radical Political Economy: A Concise Introduction

by Charles A. Barone

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Radical political economy draws on a variety of theoretical traditions, including Marxism, feminism, and post-colonialism. Radical political economists use these theories to analyze the ways in which the capitalist system oppresses and exploits workers, women, people of color, and other marginalized groups.

One of the key tenets of radical political economy is that the capitalist system is based on the exploitation of workers. Workers are paid less than the full value of their labor, and the surplus value that they produce is appropriated by capitalists in the form of profits. This exploitation is inherent to the capitalist system, and it cannot be reformed away.

Another key tenet of radical political economy is that the capitalist system is inherently patriarchal. Women are paid less than men for the same work, and they are often excluded from positions of power and authority. This patriarchal oppression is also inherent to the capitalist system, and it cannot be reformed away.

Radical political economists believe that the capitalist system must be replaced with a more egalitarian and democratic economic system. This new economic system would be based on the principles of worker self-management, economic democracy, and gender equality.

Radical political economy is a powerful tool for understanding the injustices of the capitalist system. It provides a framework for analyzing the ways in which the capitalist system oppresses and exploits workers, women, people of color, and other marginalized groups. Radical political economy also offers a vision of a more just and equitable economic system.

Key Concepts in Radical Political Economy

The following are some of the key concepts in radical political economy:

• Class: Class is a central concept in radical political economy. Class refers to the social relationship between people who own and control the means of production (capitalists) and those who do not (workers). Class is a fundamental source of inequality and exploitation in capitalist society.
• Exploitation: Exploitation is the process by which capitalists extract surplus value from workers. Surplus value is the difference between the value of the goods and services that workers produce and the wages that they are paid. Exploitation is inherent to the capitalist system, and it is a major source of inequality and poverty.
• Patriarchy: Patriarchy is a system of social and political domination by men. Patriarchy is based on the idea that men are superior to women, and it leads to the oppression and exploitation of women in all areas of life, including the economy.
• Imperialism: Imperialism is the domination of one country by another. Imperialism is a major source of inequality and poverty in the world, as it allows rich countries to exploit the resources and labor of poor countries.

Radical Political Economy in Practice

Radical political economy has been used to analyze a wide range of social and economic issues, including:

• The global financial crisis
• The rise of inequality
• The feminization of poverty
• The environmental crisis
• The war on terror

Radical political economy offers a powerful framework for understanding the complex social and economic problems facing the world today. It provides a critical lens through which to analyze the root causes of these problems, and it offers a vision of a more just and equitable future.

Radical political economy is a vital field of study for anyone who wants to understand the injustices of the capitalist system and to work towards a more just and equitable world.

Radical Political Economy: A Concise Introduction

by Charles A. Barone

4 out of 5

Language	:	English
File size	:	2402 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	177 pages
X-Ray for textbooks	:	Enabled

FREE