..that are taken for granted in current accounting research".
Political Economy Theory (PET) is divisable into two broad streams of thinking. One being the Classical Political Economy Theory, the other, Bourgeois Political Economy Theory. For the purpose of this writing the Classical Approach will be the main focus. Classical Political Economy Theory follows the basic ideas of P.E.T, but goes further in its bid to highlight and scrutinise structural conflicts and inadequacies within society. The followers of the Classical approach are of the strong opinion that within society even in these modern and seemingly liberal times, a class divide is still very apparent. This theory is based around the works of such philosophers as Karl Marx and therefore opposes the very basis of the Capitalist system. In the writing of Howieson (2006) it is stated that "a Classical Political Economy places structural conflict, inequality and the role of the state at the heart of the analysis".
The Critical Perspective is a branch of the Classical Political Economy Theory. ...Show more