Abstract
Political economy analyzes the economy within its social and political context, and is concerned with not only the exchange of commodities through the market, but also the production and distribution of wealth. In the 1970s and 1980s Marxist political economy became the dominant theoretical approach to regional development, generating a number of landmark contributions such as David Harvey's account of the limits to capital, Neil Smith's theory of uneven development, and Doreen Massey's work on spatial divisions of labor. It was subsequently supplanted by the development of cultural, institutional, and evolutionary perspectives in the 1990s and early 2000s, although it continued to structure work on topics such as labor and scale. Political economy has gained renewed traction in the wake of the recent financial and economic crisis, fostering research into its uneven spatial effects and consequences.
Published Version
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