Principles of Political Economy: A Pluralistic Approach to Economic Theory

Principles of Political Economy: A Pluralistic Approach to Economic Theory

Daniel E. Saros, Valparaiso University

© 2019 Daniel E. Saros

Principles of Political Economy by Daniel E. Saros is licensed under a Creative Commons Attribution- NonCommercial-ShareAlike 4.0 International License, except where otherwise noted. Any instructor may adopt this textbook for a course. If you choose to adopt it, please notify the author at


(From Preface) This textbook is unique among economics textbooks. It contains many of the same topics as mainstream textbooks, but it includes and takes very seriously heterodox critiques and alternatives to the mainstream approach to economics. It includes a whole range of alternative theories, including Post-Keynesian, Austrian, Marxian, radical, feminist, institutionalist, and other approaches. The purpose is to teach students about alternative schools of economic thought but also to deepen their understanding of the dominant, neoclassical approach to economics. In this sense, it draws a great deal of inspiration from Richard Wolff and Stephen Resnick’s Contending Economic Theories. Following Wolff and Resnick, an even broader objective is to teach students that economics is a discourse and that no single voice can rightfully claim to have a monopoly on the truth about economics. A final objective is to make available this material at no cost to students. Because of the high price of attending American colleges and universities, I have decided to do my small part to make higher education more affordable. Therefore, the e-book is available for free to students. Students who desire a hard copy can use a print-on-demand service to print one.