The chapter outlines a basic model for new institutionalist political economy as a frame for analyzing the relationship between productivity and justice in market societies. It combines a basic model for understanding market societies, a framework for integrating the role of racialized and...

Power and productivity mediate economic outcomes across markets–both product markets and labor markets. We develop a neoclassical economic framework that combines productivity and power, and presents the balance between them as an equilibrium outcome determined by strategic investments–by...

Market democracies struggle with economic insecurity and growing inequality, presenting new threats to democracy. The revival of “political economy” offers a frame for understanding the relationship between productivity and justice in market societies. It reintegrates power and the social...

The impressive success of peer production – a large-scale collaborative model of production primarily based on voluntary contributions – is difficult to explain through the assumptions of standard economic theory. The aim of this paper is to study the prosocial foundations of cooperation in...

The United States economy is struggling to recover from its worst economic downturn since the Great Depression. After several huge doses of conventional macroeconomic stimulus - deficit-spending and monetary stimulus - policymakers are understandably eager to find innovative no-cost ways of...