What is Political Economy?

But what is Political Economy? Good question, and one not easily answered. Many of those at the Conference see it as a critique of present economics. A critique incorporating the things that orthodoxy does not consider: war, pollution, oppression.

Others see it more in the mainstream of Marxist theory. They see the trend toward Political Economy as a sure sign of disillusionment with the bourgeois explanations and pose the working class alternatives.

Within this two-line development there can be much sharing of ideas and of experiences. The two ideas are not contradictory, and can be complementary. Luckily the Conference avoided many of the problems that could have arisen from this conflict, or that between many strange left-wing groups.

Our of the Conference came the Australian Political Economy Movement. A movement dedicated to three goals: more P.E. courses in educational institutions, a greater development of P.E., and a strong relation to practice with the groups struggling for justice. With a recognition of the need for cooperation and sharing of ideas.

The Conference itself was organised into major lectures and seminar sessions. Because of the number of people, the seminar sessions looked much more like lectures! There were four speakers flown in from overseas, and they gave the major lectures: Ian Grough on the state, Edward Nell on what is Political Economy, Sam Bowles on Education and Social Inequality; and Herb Gintis on work and alienation.

Beyone this, the seminars covered a wide variety of topics. From sexism and racism to the environment and the theory of labour value. From the state of student movements and trade unions to theories of imperialism and South Africa.