Political economy is a branch of political science and economics studying economic systems and their governance by political systems. Widely studied phenomena within the discipline are systems such as labour markets and financial markets, as well as phenomena such as growth, distribution, inequality, and trade, and how these are shaped by institutions, laws, and government policy. Originating in the 16th century, it is the precursor to the modern discipline of economics. Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and modern economics.
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology. Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change, innovation, complex interdependencies, self-evolving systems, and limited rationality as the drivers of economic evolution. The support for the evolutionary approach to economics in recent decades seems to have initially emerged as a criticism of the mainstream neoclassical economics, but by the beginning of the 21st century it had become part of the economic mainstream itself.
Socioeconomics is the social science that studies how economic activity affects and is shaped by social processes. In general it analyzes how modern societies progress, stagnate, or regress because of their local or regional economy, or the global economy.
Erik Steenfeldt Reinert is a Norwegian economist, with development economics, economic history and history of economic policy as his specialties.
Path dependence is a concept in the social sciences, referring to processes where past events or decisions constrain later events or decisions. It can be used to refer to outcomes at a single point in time or to long-run equilibria of a process. Path dependence has been used to describe institutions, technical standards, patterns of economic or social development, organizational behavior, and more.
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other. Its name and core elements trace back to a 1919 American Economic Review article by Walton H. Hamilton. Institutional economics emphasizes a broader study of institutions and views markets as a result of the complex interaction of these various institutions. The earlier tradition continues today as a leading heterodox approach to economics.
Bruno S. Frey is a Swiss economist and visiting professor for Political Economy at the University of Basel. Frey's research topics include Political economy and Happiness economics, with his published work including concepts derived from Psychology, Sociology, Jurisprudence, History, Arts, and Theology.
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics. These include institutional, evolutionary, feminist, social, post-Keynesian, ecological, Austrian, humanistic, complexity, Marxian, socialist, anarchist and modern monetary theory economics.
Geoffrey Martin Hodgson is Emeritus Professor in Management at the London campus of Loughborough University, and also the editor-in-chief of the Journal of Institutional Economics.
Kurt Dopfer is an Austrian-born Swiss economist, since 1980 Professor at the Department of Economics of University of St. Gallen, Switzerland, chair of international economics and development theory, Co-director of Institute of Economics, member University Senate, Emeritus, researcher of Swiss National Science Foundation. He also served as a visiting professor of economics at the International Christian University, Tokyo, Technical University of Dresden, Economics University of Vienna, University of Queensland, Brisbane, Institute for Advanced Studies, Vienna, and as a Commission Member of the Austrian Academy of Sciences.
Foundation for European Economic Development (FEED) is a charity formed in November 1990 under the auspices of the European Association for Evolutionary Political Economy. The charity is formally registered under the Charities Act 2006. It has provided financial assistance for various projects and organisations, including research prize competitions, summer schools, conferences, and other research events.
Zoltan J. Acs is an American economist. He is Professor of Management at The London School of Economics (LSE), and a professor at George Mason University, where he teaches in the Schar School of Policy and Government and is the Director of the Center for Entrepreneurship and Public Policy. He is also a visiting professor at Imperial College Business School in London and affiliated with the University of Pecs in Hungary. He is co-editor and founder of Small Business Economics.
Carsten Herrmann-Pillath is a German economist, sinologist, and philosopher of economics. He is the professor of Economics and Permanent Fellow at the Max Weber Centre for Advanced Cultural and Social Studies, Erfurt University, Germany.
Ugo Pagano is an Italian economist and Professor of Economic Policy at the University of Siena (Italy) where he is also Director of the PhD programme in Economics and President of S. Chiara Graduate School.
Jan Fagerberg is professor at the University of Oslo, Norway.
Stefano Zamagni is an Italian economist. Born in Rimini, Zamagni is Professor of Economics at the University of Bologna. Zamagni is also a fellow of the Human Development and Capability Association and President of the Pontifical Academy of Social Sciences.
The International Association for Feminist Economics (IAFFE) is a non-profit international association dedicated to raising awareness and inquiry of feminist economics. It has some eight hundred members in over 90 countries. The association publishes a quarterly journal entitled Feminist Economics.
The Association for Evolutionary Economics (AFEE) is an international organization of economists working in the institutionalist and evolutionary traditions of Thorstein Veblen, John R. Commons and Wesley Mitchell. It is part of the Allied Social Science Associations (ASSA), a group of approximately 63 organizations including the American Economics Association (AEA), that holds a three-day meeting each January.
Hardy (Gerhard) Hanappi, son of Gerhard Hanappi, is a European political economist. He is ad personam Jean Monnet Chair for Political Economy of European Integration and professor at the Institute of Statistics and Mathematical Methods in Economics of the TU Wien.
Werner Pascha is a German economist working on the Japanese and South Korean economies and on the international economic relations of East Asia. He has been influential in introducing an institutional economics and political economy perspective to East Asian studies in the German-speaking area. In addition, he has been very active in academic and semi-official organizations related to East Asia and East Asian studies.
