“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.”
Source: The Political Economy of International Relations (1987), Chapter One, Nature of Political Economy, p. 8
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Robert Gilpin 41
Political scientist 1930–2018Related quotes

“The stock market is not the economy, and the economy is not the stock market.”
repeatedly on his radio program " Marketplace APM https://www.marketplace.org/2019/09/30/the-stock-market-is-not-the-economy/" (September 2019)
Introduction, p. 4
The Political Economy of International Relations (1987)
Part II, Chapter 7, Attractor Points, p. 140
The Death of Economics (1994)
Source: Markets as politics: A political-cultural approach to market institutions, 1996, p. 657

“A basic contradiction between socialism and the market economy does not exist.”
As quoted in Daily report: People's Republic of China, Editions 240-249 (1993), p. 30
Interview, Time, 4 November 1985.
Variant: There are no fundamental contradictions between a socialist system and a market economy.

"Interview: President Kim Dae Jung" in TIME Asia http://www.cnn.com/ASIANOW/time/magazine/99/0913/interview.html (13 September 1999)

Power and the Useful Economist (1973)
Context: When the modern corporation acquires power over markets, power in the community, power over the state and power over belief, it is a political instrument, different in degree but not in kind from the state itself. To hold otherwise — to deny the political character of the modern corporation — is not merely to avoid the reality. It is to disguise the reality. The victims of that disguise are those we instruct in error. The beneficiaries are the institutions whose power we so disguise. Let there be no question: economics, so long as it is thus taught, becomes, however unconsciously, a part of the arrangement by which the citizen or student is kept from seeing how he or she is, or will be, governed.