Corporatocracy is an economic, political and judicial system controlled by business corporations or corporate interests.
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 18th 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.
Joseph Eugene Stiglitz is an American New Keynesian economist, a public policy analyst, political activist, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the US Council of Economic Advisers. He is known for his support for the Georgist public finance theory and for his critical view of the management of globalization, of laissez-faire economists, and of international institutions such as the International Monetary Fund and the World Bank.
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the distributive consequences of international economic activity. It has been described as the study of "the political battle between the winners and losers of global economic exchange."
Joseph Samuel Nye Jr. is an American political scientist. He and Robert Keohane co-founded the international relations theory of neoliberalism, which they developed in their 1977 book Power and Interdependence. Together with Keohane, he developed the concepts of asymmetrical and complex interdependence. They also explored transnational relations and world politics in an edited volume in the 1970s. More recently, he pioneered the theory of soft power. His notion of "smart power" became popular with the use of this phrase by members of the Clinton Administration and the Obama Administration.
In economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result.
John Leonard Eatwell, Baron Eatwell, is a British economist who was President of Queens' College, Cambridge, from 1996 to 2020. A former senior advisor to the Labour Party, Lord Eatwell sat in the House of Lords as a non-affiliated peer from 2014 to 2020, before returning to the Labour bench.
The Watson Institute for International and Public Affairs, soon to be renamed Watson School for International and Public Affairs, is an interdisciplinary research center at Brown University in Providence, Rhode Island. Its mission is to promote a just and peaceful world through research, teaching, and public engagement. The institute's research focuses on three main areas: development, security, and governance. Its faculty include anthropologists, economists, political scientists, sociologists, and historians, as well as journalists and other practitioners.
Historical institutionalism (HI) is a new institutionalist social science approach that emphasizes how timing, sequences and path dependence affect institutions, and shape social, political, economic behavior and change. Unlike functionalist theories and some rational choice approaches, historical institutionalism tends to emphasize that many outcomes are possible, small events and flukes can have large consequences, actions are hard to reverse once they take place, and that outcomes may be inefficient. A critical juncture may set in motion events that are hard to reverse, because of issues related to path dependency. Historical institutionalists tend to focus on history to understand why specific events happen.
Susan Strange was a British political economist, author, and journalist who was "almost single-handedly responsible for creating international political economy." Notable publications include Sterling and British Policy (1971), Casino Capitalism (1986), States and Markets (1988), The Retreat of the State (1996), and Mad Money (1998).
Benjamin Jerry Cohen is the Louis G. Lancaster Professor of International Political Economy at the University of California, Santa Barbara. At UCSB, where he has been a member of the faculty since 1991, he teaches undergraduate and graduate courses on international political economy.
Alberto Francesco Alesina was an Italian economist who was the Nathaniel Ropes Professor of Political Economy at Harvard University from 2003 until his death in 2020. He was known principally as an economist of politics and culture, and was famed for his usage of economic tools to study social and political issues. He was described as having “almost single-handedly” established the modern field of political economy, and as a likely contender for the Nobel Memorial Prize in Economic Sciences.
Donald John Markwell is an Australian social scientist, who has been described as a "renowned Australian educational reformer". He was appointed Head of St Mark's College, Adelaide, from November 2019. He was Senior Adviser to the Leader of the Government in the Australian Senate from October 2015 to December 2017, and was previously Senior Adviser on Higher Education to the Australian Minister for Education.
Jonathan Hopkin is Professor in the European Institute and the Department of Government of the London School of Economics and Political Science. He obtained a PhD at the European University Institute in Florence, and lectured at the Universities of Bradford, Durham and Birmingham, joining LSE in 2004. He teaches comparative politics and political economy, and has published in the areas of political parties and elections, political economy, inequality and welfare states.
Robert Hunter Wade is a political economist and development scholar. He has been Professor of Global Political Economy at the Department of International Development, London School of Economics since 1999.
Varieties of Capitalism: The Institutional Foundations of Comparative Advantage is a 2001 book on economics, political economy, and comparative politics edited by political economists Peter A. Hall and David Soskice. The book established an influential debate among political economists about ways to categorize, qualify and analyze different ways in which economies are organized.
Eric Helleiner is an author and professor of political science and the Faculty of Arts Chair in International Political Economy at the University of Waterloo, and a professor at the Balsillie School of International Affairs.
Stuart Edward Corbridge, FRGS is a British geographer and academic specialising in geopolitics, development studies, and India. From September 2015 to July 2021, he was Vice-Chancellor and Warden of Durham University. From 2013 to 2015, he was Provost and Deputy Director of the London School of Economics. He was also Professor of Development Studies at LSE.
Austerity: The History of a Dangerous Idea is a 2013 book by Mark Blyth that explores the economic policy of austerity. Studying the use of austerity around the world up to the early 2010s and tracing its intellectual lineage, Blyth argues that the case for increasing economic growth through austerity is overstated, is counterproductive when implemented during recessions, and has exacerbated the European debt crisis. Austerity was selected among the Best Books of 2013 in reviews by the Financial Times and Bloomberg News.
The Department of Economics is an academic department of the University of Oxford within the Social Sciences Division. Relatively recently founded in 1999, the department is located in the Norman Foster-designed Manor Road Building.
