First Principles Political Economy is a concise, classroom-ready primer that presents the core ideas of political economy for high school and academy study. This edition aims to explain principles clearly and practically, with room for teacher guidance and student discussion.
The text outlines a practical approach to economics, focusing on production, consumption, and distribution. It emphasizes reasoning about real-world issues, using short, direct explanations and plenty of examples to illuminate how markets, labor, capital, and government policy interact. It also links classic ideas to approachable activities and exercises designed to provoke thought and discussion in class.
What you’ll experience
- Clear definitions of wealth, value, and the divisions of political economy.
- Structured coverage of production, including labor, capital, and the cooperation of labor and capital.
- In-depth look at consumption, both for reproduction and gratification, plus public spending.
- Insight into distribution, including wages, the remuneration of capital, and the role of money, risk, and competition.
Ideal for readers who want a practical, student-friendly overview of economic principles, read alongside primary texts and classroom discussion.