Matthew Watson is a professor of political economy and international political economy (IPE) in University of Warwick's Department of Politics and International Studies. His work in the area of IPE has been published widely; he has solely authored five books, and had more than fifty articles published in peer reviewed academic journals on a wide range of issues in political economy and IPE. [1]
His five books are Foundations of International Political Economy (Palgrave Macmillan, 2005) (which received a nomination for the IPEG Book of the Year Award 2004/2005), [2] Political Economy of International Capital Mobility (Palgrave Macmillan, 2007), [3] Uneconomic Economics and the Crisis of the Model World (Palgrave Macmillan, 2014), [4] The Market (Agenda, 2018) [5] and False Prophets of Economics Imperialism: The Limits of Mathematical Market Models (Agenda, 2024). [6]
Between 2001 and 2007, Watson served as a member of the Steering Committee of the Standing Conference of Arts and Social Sciences. [7]
Watson has also been an organiser of two of the Political Studies Association's specialist groups: the Labour Movements Specialist Group and the Political Economy Specialist Group. [8] Additionally, he has acted as advisor to both Oxfam (on its fair trade campaign) and War on Want (on its Tobin tax and duty on foreign exchange transactions campaigns in the UK), [9] and he has occasionally been consulted by Bloomberg.com as an expert on the UK's economic policy. [10] [11]
Economics is a social science that studies the production, distribution, and consumption of goods and services.
Keynesian economics are the various macroeconomic theories and models of how aggregate demand strongly influences economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. It is influenced by a host of factors that sometimes behave erratically and impact production, employment, and inflation.
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes national, regional, and global economies. Macroeconomists study topics such as output/GDP and national income, unemployment, price indices and inflation, consumption, saving, investment, energy, international trade, and international finance.
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.
Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics.
Sir John Richard Hicks was a British economist. He is considered one of the most important and influential economists of the twentieth century. The most familiar of his many contributions in the field of economics were his statement of consumer demand theory in microeconomics, and the IS–LM model (1937), which summarised a Keynesian view of macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory. The compensated demand function is named the Hicksian demand function in memory of him.
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."
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.
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and transaction.
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.
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, time devoted to domestic production, and dowry payments using economic analysis.
The neoclassical synthesis (NCS), neoclassical–Keynesian synthesis, or just neo-Keynesianism — academic movement and paradigm in economics that worked towards reconciling the macroeconomic thought of John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936) with neoclassical economics.
Demographic economics or population economics is the application of economic analysis to demography, the study of human populations, including size, growth, density, distribution, and vital statistics.
Macroeconomic theory has its origins in the study of business cycles and monetary theory. In general, early theorists believed monetary factors could not affect real factors such as real output. John Maynard Keynes attacked some of these "classical" theories and produced a general theory that described the whole economy in terms of aggregates rather than individual, microeconomic parts. Attempting to explain unemployment and recessions, he noticed the tendency for people and businesses to hoard cash and avoid investment during a recession. He argued that this invalidated the assumptions of classical economists who thought that markets always clear, leaving no surplus of goods and no willing labor left idle.
New Political Economy (NPE) is a relatively recent sub-school within the field of political economy. NPE scholars treat economic ideologies as the relevant phenomena to be explained by political economy. Thus, Charles S. Maier suggests that a political economy approach: "interrogates economic doctrines to disclose their sociological and political premises [...] in sum, [it] regards economic ideas and behavior not as frameworks for analysis, but as beliefs and actions that must themselves be explained". This approach shapes Andrew Gamble's The Free Economy and the Strong State, and Colin Hay's The Political Economy of New Labour. It also guides much work published in New Political Economy, an international journal founded by Sheffield University scholars in 1996.
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.
Frank Trentmann is a professor of history in the Department of History, Classics and Archaeology at Birkbeck College, University of London. He is a specialist in the history of consumption.
Simon Clarke was a British sociologist who specialised in social theory, political economy, labour relations, and the history of sociology. He had a particular interest in employment relations in China, Vietnam, and the former-Soviet nations. He was Professor Emeritus of Sociology at the University of Warwick.
Linda L. Tesar is a professor of economics and director of graduate studies at the University of Michigan College of Literature, Science, and the Arts (LSA), the liberal arts and sciences school of the University of Michigan in Ann Arbor. She is also a research associate at the National Bureau of Economic Research and the Editor-in-Chief of the IMF Economic Review. She has been a visitor in the Research Departments of the International Monetary Fund, the Federal Reserve Board of Governors and the Federal Reserve Bank of Minneapolis. In the past, she has also served on the academic advisory council to the Federal Reserve Bank of Chicago. From 2014 to 2015, Tesar served as Senior Economist on the Council of Economic Advisers.