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.
Economic inequality is an umbrella term for a) income inequality or distribution of income, b) wealth inequality or distribution of wealth, and c) consumption inequality. Each of these can be measured between two or more nations, within a single nation, or between and within sub-populations.
Sharecropping is a legal arrangement in which a landowner allows a tenant (sharecropper) to use the land in return for a share of the crops produced on that land. Sharecropping is not to be conflated with tenant farming, providing the tenant a higher economic and social status.
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."
The Stolper–Samuelson theorem is a theorem in Heckscher–Ohlin trade theory. It describes the relationship between relative prices of output and relative factor returns—specifically, real wages and real returns to capital.
Immigration is the international movement of people to a destination country of which they are not usual residents or where they do not possess nationality in order to settle as permanent residents. Commuters, tourists, and other short-term stays in a destination country do not fall under the definition of immigration or migration; seasonal labour immigration is sometimes included, however.
Cultural economics is the branch of economics that studies the relation of culture to economic outcomes. Here, 'culture' is defined by shared beliefs and preferences of respective groups. Programmatic issues include whether and how much culture matters as to economic outcomes and what its relation is to institutions. As a growing field in behavioral economics, the role of culture in economic behavior is increasingly being demonstrated to cause significant differentials in decision-making and the management and valuation of assets.
Redistribution of income and wealth is the transfer of income and wealth from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals.
Maitreesh Ghatak is an Indian economist who is the professor of economics at the London School of Economics. He is an applied microeconomic theorist with research interests in economic development, public economics, and the economics of organisations.
Dennis J. Snower is an American-German economist, specialising in macroeconomic theory and policy, labor economics, digital governance, social economics, and the psychology of economic decisions in "caring economics".
Koichi Hamada is the Tuntex Professor Emeritus of Economics at Yale University, where he specializes in the Japanese economy and international economics. Hamada also serves as economic adviser to Japan's Prime Minister Shinzo Abe and is credited as one of the key architects of Abenomics, economic policies based upon "three arrows" of monetary easing, fiscal stimulus and structural reform. From January 2001 to July 2002, Hamada served as the first president of the Economic and Social Research Institute of the Cabinet Office of the Japanese Government. At one time Hamada was also a contender to head the WTO.
Sanjiv M. Ravi Kanbur, is T.H. Lee Professor of World Affairs, International Professor of Applied Economics, and Professor of Economics at Cornell University. He worked for the World Bank for almost two decades and was the director of the World Development Report.
Gary Sheldon Fields is an American economist, the John P. Windmuller Professor of International and Comparative Labor and Professor of Economics at Cornell University. Fields has performed extensive research in labor economics and development economics, in particular labor mobility, which was rewarded with the IZA Prize in Labor Economics in 2014.
Paul William Glewwe is an economist and Professor of Applied Economics at the University of Minnesota. His research interests include economic development and growth, the economics of the public sector, and poverty and welfare. He formerly was the Director of the Center for International Food and Agricultural Policy and served as co-chair of the education programme of the Abdul Latif Jameel Poverty Action Lab (J-PAL).
Gerald Shively is an American economist and professor in the Department of Agricultural Economics at Purdue University. He teaches and publishes research articles and books related to contemporary policy-related issues in economic development. His specializations are in poverty, food security and sustainable development.
The economics of terrorism is a branch of economics dedicated to the study of terrorism. It involves using the tools of economic analysis to analyse issues related to terrorism, such as the link between education, poverty and terrorism, the effect of macroeconomic conditions on the frequency and quality of terrorism, the economic costs of terrorism, and the economics of counter-terrorism. The field also extends to the political economy of terrorism, which seeks to answer questions on the effect of terrorism on voter preferences and party politics.
Hillel Rapoport is an economist at the University of Paris 1 Pantheon-Sorbonne and Paris School of Economics. He specializes in the dynamics of migration and its impact on economic development as well as on the economics of immigration, diversity, and refugees' relocation and resettlement and ranks as one of the leading economists on the topic of migration.
Junsen Zhang is an economist and Wei Lun Professor of Economics at the Chinese University of Hong Kong, where he also chairs the Department of Economics. He is a Fellow of the Econometric Society.
Kamalini Ramdas is a Professor of Management Science and Operations and Deloitte Chair in Innovation & Entrepreneurship at London Business School, with expertise in the areas of innovation, entrepreneurship, and operations management. Ramdas' research examines innovative approaches, including service innovation, operational innovation, and business model innovation, to accelerate value creation in various service and manufacturing industries.
Graziella Bertocchi is an Italian economist and Professor of Economics at the University of Modena and Reggio Emilia in Modena, Italy. She is known for her work connecting economic growth within a historical perspective.
