Nate Hagens defines 'political economy' as an interdisciplinary framework that examines the interconnectedness of political and economic systems and their co-evolution with human behavior and ecological constraints. Hagens emphasizes that political economy transcends traditional market and political analyses by incorporating biophysical realities, such as energy and resource availability, and recognizing the cognitive and social limits of human decision-making. It critiques the prevailing focus on perpetual economic growth, advocating instead for policies grounded in the principles of sustainability and resilience. Hagens argues that a true understanding of political economy requires a holistic view that integrates ecological imperatives, the complexity of societal goals, and the intrinsic limitations of both human and natural systems.

See also: economic system, fossil fuel, neoclassical economics, global economy, income inequality