New MPIfG Book: Understanding Political Economy

Understanding Political Economy: Capitalism, Democracy and Inequality (Edward Elgar 2025) is the latest addition to the MPIfG Books series. Authors Bob Hancké (London School of Economics and Political Science), Toon Van Overbeke (University of Maastricht), and Dustin Voss (MPIfG) provide a thorough introduction to political economy, focusing in particular on the relationship between capitalism and democracy. Taking interests, ideas, and institutions as their core concepts, they explain the discipline’s methodological foundations and apply them to central topics including market mechanisms, welfare states, and democratic processes. The book is intended for researchers and students of political science, economics, and international relations but equally contains valuable insights for political decision-makers. Dustin Voss joined the MPIfG in 2022 and has been a senior researcher in its Political Economy Research Area since 2023.