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Chapter Four
Learning Objectives
- Understand how political scientists think about major issues in political economy.
- Learn the major economic functions of modern states.
- Begin to understand the major positions scholars take about the roles of the states and of markets in generating economic growth.
- Learn the major theories that try to explain varying extents and forms of welfare state development.
Key Concepts
- Political Economy
- Inequality
- Employment and Inflation
- Markets and States in Modern Economies
- Markets and Economic Performance
- States and Economic Performance
- Economic Functions of Modern States
- States and Economic Management
- Investments in Human Capital: Education and Health
- Infrastructure and Other Public Goods
- Welfare State Functions