Economies - and the government institutions that support them - reflect a moral and political choice, a choice we can make and remake. Since the dawn of industrialization and democratization in the late eighteenth century, there has been a succession of political economic frameworks, reflecting changes in technology, knowledge, trade, global connections, political power, and the expansion of citizenship. The challenges of today reveal the need for a new moral political economy that recognizes the politics in political economy. It also requires the redesign of our social, economic, and governing institutions based on assumptions about humans as social beings rather than narrow self-serving individualists. This Element makes some progress toward building a new moral political economy by offering both a theory of change and some principles for institutional (re)design.

A comprehensive account of how the Athenian constitution was created-with lessons for contemporary constitution-building We live in an era of constitution-making. More than half of the world's constitutions have been drafted in the past half-century. Yet, one question still eludes theorists and practitioners alike: how do stable, growth-enhancing constitutional structures emerge and endure? In Creating a Constitution, Federica Carugati argues that ancient Athens offers a unique laboratory for exploring this question. Because the city-state was reasonably well-documented, smaller than most modern nations, and simpler in its institutional makeup, the case of Athens reveals key factors of successful constitution-making that are hard to flesh out in more complex settings. Carugati demonstrates that the institutional changes Athens undertook in the late fifth century BCE, after a period of war and internal strife, amounted to a de facto constitution. The constitution restored stability and allowed the democracy to flourish anew. The analysis of Athens's case reveals the importance of three factors for creating a successful constitution: first, a consensus on a set of shared values capable of commanding long-term support; second, a self-enforcing institutional structure that reflects those values; and, third, regulatory mechanisms for policymaking that enable tradeoffs of inclusion to foster growth without jeopardizing stability. Uniquely combining institutional analysis, political economy, and history, Creating a Constitution is a compelling account of how political and economic goals that we normally associate with Western developed countries were once achieved through different institutional arrangements.