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Now in its third edition, Political Economy: The Contest of Economic Ideas is a fully updated survey of the political economy and its connection with social concerns. Moving beyond conventional treatments, this unique text offers a "big-picture" overview of the analytical tools and value judgments associated with competing schools of economic thought. Featuring an exceptionally engaging writing style, this text makes the complexities of contesting economic ideas--including classical political economy and Marxist economics and neoclassical economies and neo-liberalism--clear and accessible to students. The third edition includes a new chapter on the economics of happiness and new sections on current issues like the global financial crisis, climate change, and "affluenza."