Neoliberalism or neo-liberalism is the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism and free market capitalism, which constituted a paradigm shift away from the post-war Keynesian consensus that had lasted from 1945 to 1980. Neoliberalism is generally associated with policies of economic liberalization, including privatization, deregulation, free trade, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society. However, the defining features of neoliberalism in both thought and practice have been the subject of substantial scholarly debate.
Development economics is a branch of economics which deals with economic aspects of the development process in low income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels.
International political economy (IPE), also known as global political economy (GPE), refers to either economics or an interdisciplinary academic discipline that analyzes economics, politics and international relations. When it is used to refer to the latter, it usually focuses on political economy and economics, although it may also draw on a few other distinct academic schools, notably political science, also sociology, history, and cultural studies. IPE is most closely linked to the fields of macroeconomics, international business, international development and development economics.
Karl Gunnar Myrdal was a Swedish economist and sociologist. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena." He is best known in the United States for his study of race relations, which culminated in his book An American Dilemma: The Negro Problem and Modern Democracy. The study was influential in the 1954 landmark U.S. Supreme Court Decision Brown v. Board of Education. In Sweden, his work and political influence were important to the establishment of the Folkhemmet and the welfare state.
Robin Eric Hahnel is an American economist and professor of economics at Portland State University. He was a professor at American University for many years and traveled extensively advising on economic matters all over the world. He is best known for his work on participatory economics with Z Magazine editor Michael Albert.
Andre Gunder Frank was a German-American sociologist and economic historian who promoted dependency theory after 1970 and world-systems theory after 1984. He employed some Marxian concepts on political economy, but rejected Marx's stages of history, and economic history generally.
Jomo Kwame Sundaram, known as Jomo, is a prominent Malaysian economist. He holds the Tun Hussein Onn Chair in International Studies at the Institute of Strategic and International Studies, Malaysia, and is Visiting Senior Fellow at Khazanah Research Institute, Visiting Fellow at the Initiative for Policy Dialogue, Columbia University, and Adjunct Professor at the International Islamic University, Malaysia.
Kamer Daron Acemoğlu is a Turkish-born American economist who has taught at the Massachusetts Institute of Technology (MIT) since 1993. He is currently Elizabeth and James Killian Professor of Economics at MIT. He was named Institute Professor in 2019.
Rehman Sobhan is a Bangladeshi economist and freedom fighter. He played an active role in the Bengali nationalist movement in the 1960s. He was also a member of the first Planning Commission in Bangladesh and a close associate of Sheikh Mujibur Rahman. He was awarded the Independence Day Award in 2008.
Regional Integration is a process in which neighboring states enter into an agreement in order to upgrade cooperation through common institutions and rules. The objectives of the agreement could range from economic to political to environmental, although it has typically taken the form of a political economy initiative where commercial interests are the focus for achieving broader socio-political and security objectives, as defined by national governments. Regional integration has been organized either via supranational institutional structures or through intergovernmental decision-making, or a combination of both.
Samuel Stebbins Bowles, is an American economist and Professor Emeritus at the University of Massachusetts Amherst, where he continues to teach courses on microeconomics and the theory of institutions. His work belongs to the neo-Marxian tradition of economic thought. However, his perspective on economics is eclectic and draws on various schools of thought, including what he and others refer to as post-Walrasian economics.
Richard David Wolff is an American Marxian economist, known for his work on economic methodology and class analysis. He is Professor Emeritus of Economics at the University of Massachusetts Amherst, and currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City.
Syed Nawab Haider Naqvi is a noted Pakistani economist and scholar.
Kriengsak Chareonwongsak is a Thai scholar and politician. He established the first future studies research institute in Southeast Asia, and was a Member of Thailand's House of Representatives, was on the executive Board for the Democrat Party, and has published on both scholarly and popular topics.
Dr. Mohammad Zubair Khan has a doctorate in political economy from Johns Hopkins University. After working briefly for the World Bank, he worked at the International Monetary Fund from 1981 to 1992, assigned to a wide range of countries, including industrial countries in northern Europe and Turkey, developing countries in south Asia, the oil producing countries in the Middle East and countries in the South Pacific region.
Mushtaq Husain Khan is a heterodox economist and professor of economics at the School of Oriental and African Studies (SOAS), University of London. His work focusses on the economics of poor countries; it includes notable contributions to the field of institutional economics and South Asian development. Khan also developed the concept of political settlement, which is a political economy framework that highlights how the distribution of organizational and political power among different classes or groups influences policies and institutions in different countries.
The China Model / Beijing Consensus refers to the political and economic policies of the People's Republic of China that began to be instituted by Deng Xiaoping after Mao Zedong's death in 1976. The policies are thought to have contributed to China's "economic miracle" and eightfold growth in gross national product over two decades. The phrase "Beijing Consensus" was coined by Joshua Cooper Ramo to frame China's economic development model as an alternative—especially for developing countries—to the Washington Consensus of market-friendly policies promoted by the IMF, World Bank, and U.S. Treasury. In 2016, Ramo explained that the Beijing Consensus shows not that "every nation will follow China’s development model, but that it legitimizes the notion of particularity as opposed to the universality of a Washington model".
The United Nations University World Institute for Development Economics Research (UNU-WIDER) is part of the United Nations University (UNU). UNU-WIDER, the first research and training centre to be established by the UNU, is an international academic organization set up with the aim of promoting peace and progress by bringing together leading scholars from around the world to tackle pressing global problems.
Finn Tarp is a Danish Professor of Development Economics at the University of Copenhagen and former Director of UNU-WIDER (2009-2018), Helsinki, Finland.
Erik Thorbecke is a development economist. He is a co-originator of the widely used Foster-Greer-Thorbecke poverty measure and played a significant role in the development and popularization of Social Accounting Matrix. Currently, he is H. E. Babcock Professor of Economics, Emeritus, and Graduate School Professor at Cornell University.
