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This is the final version as it appears for the citation: Jordan, Soren. 2016. "Politics: Basic Concepts." In Global Encyclopedia of Public Adminis- tration, Public Policy, and Governance, ed. Ali Farazmand. Springer. DOI:10.1007/978-3-319-31816-5_1403-1 The page numbers here are consistent with the published version. Corresponding author: Soren Jordan (sorenjordanpols@gmail.com).

Spinoza is among the most pivotal thinkers in the history of philosophy. He has had a deep and enduring influence on a wide range of philosophical subjects, and his work is encountered by all serious students of Western philosophy. His Ethics is one of the seminal works of metaphysical, moral, religious and political thought; his Theological-Political Treatise inaugurated a novel method of biblical exegesis; and both his political works developed the pre-eminence of democracy above all other regimes. Nevertheless, the significance of Spinoza's philosophy is matched by its complexity. His syste

Radical institutionalism, though not as developed as its cousin, Marxism, is also a profoundly critical theory of industrial capitalism. Radical institutionalism is based on the works of Thorstein Veblen and, to a much lesser extent, on the works of John R. Commons. Central concepts of radical institutionalism include (1) The economy is a process, not an equilibrium; (2) Socialized irrationality frequently overwhelms the would-be solidarity of exploited classes; (3) Power and status combine with myth and authority to sustain tyranny; (4) Equality is essential to the good life; (5) Values and ideology support (6) Participatory democracy; and (7) Radical transformation rather than incremental adjustment is called for under the current dispensation. Radical institutionalism is not based on the labor theory of value, but does share with Marxism certain critical points in relation to neoclassical economic theory.