Overview

This volume brings together leading political scientists to explore the distinctive features of the American political economy. The introductory chapter provides a comparatively informed framework for analyzing the interplay of markets and politics in the United States, focusing on three key factors: uniquely fragmented and decentralized political institutions; an interest group landscape characterized by weak labor organizations and powerful, parochial business groups; and an entrenched legacy of ethno-racial divisions embedded in both government and markets. Subsequent chapters look at the fundamental dynamics that result, including the place of the courts in multi-venue politics, the political economy of labor, sectional conflict within and across cities and regions, the consolidation of financial markets and corporate monopoly and monopsony power, and the ongoing rise of the knowledge economy. Together, the chapters provide a revealing new map of the politics of democratic capitalism in the United States.

Full Product Details

Author:   Jacob S. Hacker (Yale University, Connecticut) ,  Alexander Hertel-Fernandez (Columbia University, New York) ,  Paul Pierson (University of California, Berkeley) ,  Kathleen Thelen (Massachusetts Institute of Technology)
Publisher:   Cambridge University Press
Imprint:   Cambridge University Press
Dimensions:   Width: 15.20cm , Height: 2.90cm , Length: 22.90cm
Weight:   0.730kg
ISBN:  

9781009014861

ISBN 10:   1009014862
Pages:   486
Publication Date:   11 November 2021
Audience:   General/trade ,  Professional and scholarly ,  General ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

Introduction; American political economy: a framework and agenda for research Jacob S. Hacker, Alexander Hertel-Fernandez, Paul Pierson, and Kathleen Thelen; Part I. Political Arenas and Actors: 1. Hurdles to shared prosperity: congress, parties, and the national policy process in an era of inequality Nathan J. Kelly and Jana Morgan; 2. The role of the law in the American political economy K. Sabeel Rahman and Kathleen Thelen; 3. Collective action, law, and the fragmented development of the American labor movement Alexander Hertel-Fernandez; Part II. Race, Space, and Governance: 4. Racial inequality, market inequality, and the American political economy Chloe Thurston; 5. The production of local inequality: race, class, and land use in American cities Jessica Trounstine; 6. The city re-centered? Local inequality mitigation in the twenty-first century Thomas K. Ogorzalek; 7. The political economies of red states Jacob M. Grumbach, Jacob S. Hacker, and Paul Pierson; Part III. Corporate Power and Concentration: 8. Mo' patents, mo' problems: corporate strategy, structure and profitability in America's political economy Herman Mark Schwartz; 9. Asset manager capitalism as a corporate governance regime Benjamin Braun; 10. Labor market power in the American political economy Suresh Naidu; Part IV. The American Knowledge Economy: 11. The United States as radical innovation driver: the politics of declining dominance? David Soskice; 12. Public investment in the knowledge economy Lucy Barnes; 13. Concentration and commodification: the political economy of post-industrialism in America and beyond Ben Ansell and Jane Gingrich; 14. The American political economy confronts covid-19 Jacob S. Hacker, Alexander Hertel-Fernandez, Paul Pierson, and Kathleen Thelen.

Reviews

'Until recently, specialists in American politics have left debates about globalization, the rise of economic inequality, and the transformation of labor markets to economists and scholars of comparative politics. In this impressive volume, an accomplished group of scholars demonstrates the value of integrating the study of American politics with an interdisciplinary political economy approach that embraces sober and systematic explorations of the most urgent questions of our time.' Jonathan Rodden, Stanford University 'The American Political Economy is an agenda-setting collection, a must-read of theoretically bold and empirically wide-ranging contributions to our understanding of galloping inequalities and democratic erosions in the contemporary United States. Business power, union decline, racial inequities, government weakness, and regional disparities - all get provocative fresh looks here. Scholars and students alike will find much to debate and new questions to investigate.' Theda Skocpol, Harvard University 'Injecting the study of American politics with a badly needed dual dose of economic realism and comparative insight, The American Political Economy reminds us of the inescapable and mutual embedding of a fragmented state in a heterogeneous economy and a racially divided populace. A transformative collection whose paradigmatic lessons will keep on giving, for decades.' Dan Carpenter, Harvard University 'This is the rare edited volume that features real intellectual heft. It not only bids fair to reorient the study of American political life but it also promises to shape the scholarly sensibilities of generations to come. Drawing on contributions from a dazzling roster of luminaries and rising stars, it makes a compelling case that political economy should occupy a central place in our understanding of American politics.' Anthony S. Chen, Northwestern University

'Until recently, specialists in American politics have left debates about globalization, the rise of economic inequality, and the transformation of labor markets to economists and scholars of comparative politics. In this impressive volume, an accomplished group of scholars demonstrates the value of integrating the study of American politics with an interdisciplinary political economy approach that embraces sober and systematic explorations of the most urgent questions of our time.' Jonathan Rodden, Stanford University 'The American Political Economy is an agenda-setting collection, a must-read of theoretically bold and empirically wide-ranging contributions to our understanding of galloping inequalities and democratic erosions in the contemporary United States. Business power, union decline, racial inequities, government weakness, and regional disparities – all get provocative fresh looks here. Scholars and students alike will find much to debate and new questions to investigate.' Theda Skocpol, Harvard University 'Injecting the study of American politics with a badly needed dual dose of economic realism and comparative insight, The American Political Economy reminds us of the inescapable and mutual embedding of a fragmented state in a heterogeneous economy and a racially divided populace. A transformative collection whose paradigmatic lessons will keep on giving, for decades.' Dan Carpenter, Harvard University 'This is the rare edited volume that features real intellectual heft. It not only bids fair to reorient the study of American political life but it also promises to shape the scholarly sensibilities of generations to come. Drawing on contributions from a dazzling roster of luminaries and rising stars, it makes a compelling case that political economy should occupy a central place in our understanding of American politics.' Anthony S. Chen, Northwestern University

'Until recently, specialists in American politics have left debates about globalization, the rise of economic inequality, and the transformation of labor markets to economists and scholars of comparative politics. In this impressive volume, an accomplished group of scholars demonstrates the value of integrating the study of American politics with an interdisciplinary political economy approach that embraces sober and systematic explorations of the most urgent questions of our time.' Jonathan Rodden, Stanford University 'The American Political Economy is an agenda-setting collection, a must-read of theoretically bold and empirically wide-ranging contributions to our understanding of galloping inequalities and democratic erosions in the contemporary United States. Business power, union decline, racial inequities, government weakness, and regional disparities - all get provocative fresh looks here. Scholars and students alike will find much to debate and new questions to investigate.' Theda Skocpol, Harvard University 'Injecting the study of American politics with a badly needed dual dose of economic realism and comparative insight, The American Political Economy reminds us of the inescapable and mutual embedding of a fragmented state in a heterogeneous economy and a racially divided populace. A transformative collection whose paradigmatic lessons will keep on giving, for decades.' Dan Carpenter, Harvard University 'This is the rare edited volume that features real intellectual heft. It not only bids fair to reorient the study of American political life but it also promises to shape the scholarly sensibilities of generations to come. Drawing on contributions from a dazzling roster of luminaries and rising stars, it makes a compelling case that political economy should occupy a central place in our understanding of American politics.' Anthony S. Chen, Northwestern University

Author Information

Jacob S. Hacker is Stanley Resor Professor of Political Science at Yale University. He is the author or co-author of six books, including, most recently, Let Them Eat Tweets and American Amnesia (with Paul Pierson) (2020). Alexander Hertel-Fernandez is Associate Professor at Columbia University. He studies the politics of US public policy with a focus on labor, business, and the workplace. He is the author of Politics at Work (2018), which won the 2019 Robert A. Dahl and Gladys Kammerer Awards from the American Political Science Association, and State Capture. Paul Pierson is John Gross Professor of Political Science at University of California, Berkeley. He is the author or co-author of six books on American and comparative politics, including Let Them Eat Tweets and American Amnesia (with Hacker) (2020).

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