This book examines how a society that is trapped in stagnation might initiate and sustain economic and political development. In this context, progress requires the reform of existing arrangements, along with the complementary evolution of informal institutions. It involves enhancing state capacity, balancing broad avenues for political input, and limiting concentrated private and public power. This juggling act can only be accomplished by resolving collective-action problems (CAPs), which arise when individuals pursue interests that generate undesirable outcomes for society at large. Merging and extending key perspectives on CAPs, inequality, and development, this book constructs a flexible framework to investigate these complex issues. By probing four basic hypotheses related to knowledge production, distribution, power, and innovation, William D. Ferguson offers an analytical foundation for comparing and evaluating approaches to development policy. Navigating the theoretical terrain that lies between simplistic hierarchies of causality and idiosyncratic case studies, this book promises an analytical lens for examining the interactions between inequality and development. Scholars and researchers across economic development and political economy will find it to be a highly useful guide.

In "Collective Action and Exchange: A Game-Theoretic Approach to Contemporary Political Economy," William D. Ferguson presents a comprehensive political economy text aimed at advanced undergraduates in economics and graduate students in the social sciences. The text utilizes collective action as a unifying concept, arguing that collective-action problems lie at the foundation of market success, market failure, economic development, and the motivations for policy.
Ferguson draws on information economics, social preference theory, cognition theory, institutional economics, as well as political and policy theory to develop this approach. The text uses classical, evolutionary, and epistemic game theory, along with basic social network analysis, as modeling frameworks. These models effectively bind the ideas presented, generating a coherent theoretic approach to political economy that stresses sometimes overlooked implications.

In "Collective Action and Exchange: A Game-Theoretic Approach to Contemporary Political Economy," William D. Ferguson presents a comprehensive political economy text aimed at advanced undergraduates in economics and graduate students in the social sciences. The text utilizes collective action as a unifying concept, arguing that collective-action problems lie at the foundation of market success, market failure, economic development, and the motivations for policy.
Ferguson draws on information economics, social preference theory, cognition theory, institutional economics, as well as political and policy theory to develop this approach. The text uses classical, evolutionary, and epistemic game theory, along with basic social network analysis, as modeling frameworks. These models effectively bind the ideas presented, generating a coherent theoretic approach to political economy that stresses sometimes overlooked implications.

Few concepts have captured the imagination of the conflict and development community in recent years as powerfully as the idea of a 'political settlement'. At its most ambitious, 'political settlements analysis' (PSA) promises to explain why conflicts occur and states collapse, the conditions for their successful rehabilitation, different developmental pathways from peace, and how to better fit development policy to country context. Yet not all is well in the world of PSA. Rival definitions of the term abound, there are disagreements about its scope and the way it should be used, a growing schism between conflict specialists and economists, basic concepts are ambiguous and little progress has been made on measurement. Political Settlements and Development consequently has three main aims: to argue for a revised definition of a political settlement, capable of unifying its diverse strands, and opening new opportunities for the analysis of conflict and development; to put the concept on a more solid theoretical and scientific footing, providing a method for measuring and categorising political settlements, while using new data to analyse the relationship between political settlements and development; and finally, to examine the implications for policymakers. This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.