The central problem of modern government and political action is how to choose and implement effective economic policies. For this reason, the economic considerations of public policy have assumed a more prominent place in contemporary political thought. Despite efforts among political scientists, economists, and sociologists to fathom the complexities of this added dimension, none of these solid sciences offers a satisfying approach to the problem. This volume attempts to display the historical novelty and intellectual importance of this dilemma, to uncover its origins, and to procure a remedy through a clearer and steadier focus. The book's contributors range from historians of ideas to economic theorists, who bring the approach of their own intellectual discipline to bear upon the issue.

‘For anyone interested in how the role of the state has changed over time, in the interdependencies between economic structure and what can and can’t be achieved through government … this is fascinating reading.’

Richard Nelson Source: Journal of Policy Analysis and Management

‘This varied collection of essays on history, philosophy and economics deals at an extremely high level of subtlety and scholarship with both … the political limit on economics and the economic limit on politics.’

Ian Gilmour Source: London Review of Books