Political Economy

Through its research, teaching, and course development, the Stanford GSB political economy group has consistently led the way in business schools’ awakening to the enormous impact of nonmarket forces on business practice and performance.

Political economy courses blend cutting-edge research with contemporary business cases. Spanning theory and practice as such provides future managers with systematic frameworks for understanding behavior outside the traditional sphere of markets. Important features of the nonmarket environment include strategic aspects of NGOs and activists; business-government relations in lawmaking, rulemaking, and regulation (locally and globally); the legal environment of business; and the interplay of strategy and ethics.

The political economy faculty is composed of world-class economists and political scientists whose research epitomizes the unique benefits of rigorous interdisciplinary social science. The faculty not only strives for excellence in its own research and teaching but also takes pride in its incomparable PhD Program, which regularly trains the world’s best new political economists.

Recent Journal Articles in Political Economy

Journal Article|
Saumitra Jha
Economic Policy. August
2018, Vol. 33, Issue 95, Pages 485-526

I examine the conditions under which trade can support peaceful coexistence and prosperity when particular social and ethnic groups are cheap targets of violence. A simple theoretical framework reveals that...

Keith Krehbiel
The Journal of Politics. May
22 , 2018, Vol. 80, Issue 3

Pivotal Politics: A Theory of U.S. Lawmaking was conceived as an instance of normal science within a nascent but nebulous paradigm. In the two decades following publication of the book,...

Gregory J. Martin, Zachary Peskowitz
American Political Science Review. May
2018, Vol. 112, Issue 2, Pages 231-248

Advertising expenditures in congressional campaigns are made not directly by campaigns themselves but indirectly though intermediary firms. Using a new dataset of revenues and costs of these firms, we study...

Condoleezza Rice, Amy Zegart
Harvard Business Review. May

In 2010, Gabriela Cowperthwaite read a news article that changed her life. It described how an orca whale had killed a trainer during a show at SeaWorld in Orlando. Cowperthwaite,...

Gregory J. Martin
The Journal of Politics. April
2018, Vol. 80, Issue 2, Pages 479-493

In advanced democracies, most government spending is allocated according to criteria approved by a legislature but implemented by the bureaucracy. I ask whether this fact imposes a binding constraint on...