The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.

A market is not politically neutral; its existence creates economic power which one actor can use against another.

In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.

I was certain that I was not a Marxist, but I did believe firmly that a connection between economics and politics existed.

The world economy diffuses rather than concentrates wealth.

In the abstract world of American economists, equations run both ways; they believe that by changing the sign of a variable from plus to minus or from minus to plus or the price and quantity of x or y, the direction of historical movement can be reversed.

The clustering of technological innovation in time and space helps explain both the uneven growth among nations and the rise and decline of hegemonic powers.