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Best Political Economy Dissertation Topics in 2023

Political Economy Dissertation Topics: Universal political Economy is considered an interdisciplinary academic discipline, which assesses global and economic relations. IPE is mostly connected with international business, macroeconomics, improvement of financial aspects, and international advancement. Political economy is the study of how economic and political systems interact with and shape each other. It is a broad […]

Political economy is the study of how economic and political systems interact with and shape each other. It is a broad field that encompasses the ways in which economic policies and political institutions affect the production, distribution, and consumption of goods and services.

Political economy also looks at how different economic systems, such as capitalism, socialism, and communism, function and how they influence political, social, and cultural outcomes. The study of political economy can help us understand how economic and political decisions impact people’s lives and how we can create more equitable and efficient societies.

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The political economy of taxation in developing countries
The impact of trade policy on economic inequality
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The economic consequences of government corruption
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The relationship between economic growth and political stability
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The role of civil society in shaping economic policy
The effects of cultural factors on economic development
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Essays in Political Economy and Crisis

Wilse-Samson, Laurence

My research has two main themes --- the link between political economy and economic development, and the causes and effects of economic crises and long recessions. This dissertation samples from some of this ongoing research. The relationship between economic development and democracy is key in political economy. Many commentators have suggested that economic growth increases support for democracy. One proposed mechanism is that modernization, by reducing the demand for low-skilled labor, increases the willingness of elites, particularly in agriculture, to extend the franchise. In Chapter 1 I use subnational variation in South Africa to test this mechanism. I employ national shocks to the mining sector's demand for native black workers and cross-sectional variation in labor market competition induced by apartheid to estimate the effect of black labor scarcity on wages, capital intensity, and changes in partisan voting preferences. I find that reductions in the supply of foreign mine labor following the sudden withdrawal of workers from Malawi and Mozambique (and the increased demand for native black workers) increased mechanization on the mines and on farms competing with mines for labor. I then show that these induced structural changes resulted in differential increases in pro-political reform vote shares in the open districts relative to closed districts, even as mining districts became more conservative and voted more to maintain the non-democratic regime. Chapter 2 also explores issues related to the close relationships between economic and political institutions. In this chapter, together with my coauthor Sebastien Turban, we show how sovereign debt spreads are impacted by news about executive term limits. Political institutions matter for countries' cost of borrowing. We use an event-study to analyze the markets' response to new information about executive term limits over 101 events in seven emerging markets. Investors respond significantly to news about restrictions on those limits, lowering risk spreads. The one day abnormal returns following news about a restriction is 2 percentage points. Over ten days, the cumulative abnormal return is 5 percentage points. News about term limits extensions are not significant in the medium run. The results are robust to a non-parametric test and are confirmed when looking at the behavior of sovereign CDS prices. Chapter 3 starts the second part of this dissertation which is an investigation into the housing-related aspects of the recent crisis which began as a "subprime crisis" before it became the "Great Recession". In particular, this chapter focuses on the institutional details underpinning these markets. It also serves to set up the analysis in the following chapter which looks at one of the potentially important mechanisms which amplified the severity of the housing crisis. One important feature emerging from this analysis is that it appears that protections for home mortgage creditors were strengthened in the period preceding the subprime crisis. This may have both increased lending, but also the difficulty of modifying home loans ex post. This is more problematic to the extent that there are negative externalities from foreclosures. Chapter 4, co-authored work with David Munroe, shows that completed foreclosures cause neighboring foreclosure lings. We estimate this relationship using administrative data on home foreclosures and sales in Cook County, IL, instrumenting completed foreclosures with randomly assigned chancery-court judges. A completed foreclosure causes 0.5 to 0.7 additional foreclosure lings within 0.1 miles, an effect that persists for several years. Contagion is driven by borrowers on the margins of default, not those severely at risk. We find evidence that borrowers learn about lender behavior from neighboring foreclosures. Finally, a foreclosure causes an increase in housing sales among relatively low-quality properties.

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Article contents

International political economy: overview and conceptualization.

Renée Marlin-Bennett Renée Marlin-Bennett International Studies, Johns Hopkins
and David K. Johnson David K. Johnson Political Science, Johns Hopkins University
https://doi.org/10.1093/acrefore/9780190846626.013.239
Published in print: 01 March 2010
Published online: 22 December 2017
This version: 22 January 2021
Previous version

The concept of international political economy (IPE) encompasses the intersection of politics and economics as goods, services, money, people, and ideas move across borders. The term “international political economy” began to draw the attention of scholars in the mid-1960s amid problems of the world economy and lagging development in the third world. The term “global political economy” (GPE) later came to be used frequently to illustrate that what happens in the world is not only about interactions between states and that the GPE includes many different kinds of actors. The survey aims at a comprehensive picture of the different schools of IPE, both historically and as they have developed in the early 21st century. Authors of antiquity, such as Aristotle and Kautilya, explored the relationship between the political and the economic long before the term “political economy” was coined, presumably by Antoine de Montchrestien in 1613. The mercantilist writings of the 17th and 18th centuries, including those of Colbert, Mun, and Hamilton, argued in favor of the state using its powers to increase its wealth. List, writing in the 19th century, emphasized the tension between national economic self-determination and free markets. The 19th- to 20th-century iteration of the mercantilist view can be found in the form of economic nationalist policies, which link to a realist approach to international relations more generally. Theorists of the Global South have adapted economic nationalist policies to address the problem of development. The liberal tradition of IPE also has historical antecedents, beginning with classical political economy. Examples include the influential works of Locke, Hume, Smith, and Ricardo. After World War II, the economic writings of Keynes, Hayek, and Friedman were influential. Variants of neoliberal IPE can be found from the 1950s with scholarship on integration and from the late 1970s with scholarship on international regimes. Late-20th-century and early-21st-century liberal scholarship has also explored varieties of capitalism and economic crises. An alternative stream of IPE can be traced through Marxian political economy, beginning with the work of Marx and Engels in the 19th century and proliferating globally. This approach provides a critique of capitalism. Other critical approaches that have emerged in the 20th and 21st centuries include feminist global political economy and postcolonial critiques of liberal and Marxian analyses. Trends in scholarship include analyses of China and transition of the neoliberal order, queer theory for global political economy, and studies of growing trends toward precarious forms of labor. A final section discusses research beginning in the 1990s that is relevant to the global political economy of transborder transmission of disease, a topic of special concern in light of the Covid-19 pandemic of 2020.

international political economy
global political economy
mercantilism
economic nationalism
classical liberalism
neoliberal institutionalism
neoclassical liberalism
postcoloniality

Updated in this version

Light revision throughout, added discussions of postcoloniality and Covid-19

Introduction

Research in the field of international political economy, as described in this overview, includes work grounded in different schools of thought and drawing upon distinct conceptualizations of important concepts, relationships, and causal understandings. Antoine de Montchrestien ( 1889 ) is reputed to have introduced the term œconomie politique in his treatise of 1613 , by which he referred to the study of how states should manage the economy or make policy. The concept of international political economy has come to encompass a larger range of concerns, including the intersection of politics and economics, as goods, services, money, people, and ideas move across borders. The term “international political economy” (IPE) began to appear in the scholarly literature in the mid-1960s as problems of the world economy and development in the third world gained scholarly attention. The term “global political economy” (GPE) came into sporadic use at about the same time. GPE was (and is) often used more or less synonymously with IPE, though IPE approaches usually emphasize the individual nation-state as the basic unit of analysis, while GPE approaches tend to be more holistic, placing states and other kinds of actors within larger structures or the global system. Gill ( 1990 ) notes that in the 1980s, the terminological difference between IPE and GPE came to mark a difference in methodological orientation, mapping onto more or less “mainstream” and “critical” approaches, respectively. By the end of the 1990s, the GPE came to be used by both mainstream scholars (Gilpin, 2001 , and Cohn, 2016 , are examples) and critical scholars, although critical scholars are more likely to use GPE exclusively. (This article omits a full discussion of the development of IPE in the Global South and its engagement with GPE, a topic covered in Deciancio and Quiliconi, 2020 ). This survey of IPE and GPE scholarship proceeds in a roughly historical plan and consists of eight sections. It begins with some very early works on the intersection of politics and economics, and then it turns to the mercantilist school and its 20th-century successor, economic nationalism. The next section traces the development of the liberal tradition of political economy, including classical political economy, Keynesianism, neoclassical economics, and neoliberalism. This discussion is followed by sections on the Marxian, feminist, and postcolonial global political economy. The penultimate section briefly discusses some trends of scholarship in the 21st century , especially moving into the 2020s. The survey concludes with a discussion of scholarship (published prior to May 2020 ) that is relevant for assessing the global political economy reverberations of the COVID-19 global pandemic.

Politics and Economics: Early Works

The study of the relationship between economic activities and state interests originated long before the term “political economy” was coined. Two examples of very early works include writings by Aristotle ( 384–322 bce ), who criticized Plato’s conception of communal ownership and placed the state in the role of guarantor of private property in The Politics , and Kautilya ( ca . 350–283 bce ), the Indian author of Arthashastra , a book of statecraft, who wrote of the need for the ruler to send spies to the marketplace to ensure fair weights and measures (Kautilya, 1915 ). In the Middle Ages, Islamic social theorist Ibn Khaldun ( 1332–1406 ) wrote about the relationship between governing structures and productivity of people (Ibn Khaldun, 1967 ). Another Muslim scholar of this era, Al-Maqrizi (d. 1442) ( 1994 ), analyzed governmental policies, including monetary policy. Niccolò Machiavelli ( 1469–1527 ), generally seen as a political theorist, was mindful of the relationship between the state and the economy as well, at least in the sense that a primary role of the prince or of a republican government is to protect private property. He called “public security and the protection of the laws [. . .] the sinews of agriculture and of commerce,” and suggested that the protection of property rights was important “so that the one may not abstain from embellishing his possessions for fear of their being taken from him, and [. . .] not hesitate to open a new traffic for fear of taxes” (Machiavelli, 1882 , p. 448; see also Machiavelli, 1979 , ch. XVI, on how princes ought to spend—or not spend—money).

Governments traditionally were held responsible for defending their own citizens’ property, but they had no such obligation toward conquered peoples. The European Age of Exploration led unsurprisingly to the expropriation of resources, since the purpose of those conquests was to bring home wealth in the form of gold, silver, and other precious materials. Enslavement of the indigenous peoples and profiting from their resources was considered consistent with natural law, as Juan Ginés de Sepúlveda, drawing on Aristotle, argued in 1550 (Garcia-Pelayo, 1986 ).

Sepúlveda’s opinion was commonly, but not universally, held. The famous opposition to Spain’s inhuman treatment of indigenous people was published by Bartolomé de Las Casas in 1552 . He charged that the “avarice and ambition” that motivated the Spaniards and led them to perpetrate acts of barbarism were, to use a modern term, “illegitimate” (Las Casas, 2007 ). At a time when imperial conquest was considered the natural goal for states, Las Casas sounded a normative message—that the state cannot act with impunity and that the quest for riches does not excuse unjust forms of violence. The Sepúlveda–Las Casas debate prefigured future debates over the norms of international political economic interaction.

From Mercantilism to Economic Nationalism

Adam Smith referred dismissively to the various theories and policies on how states should intervene in markets to increase wealth and power as “mercantilism.” The more neutral-sounding “economic nationalism” became the successor term in more recent times. In both cases, assumptions about the role of the state conform to a general realist model, although a form of economic nationalism has also been espoused by theorists and polities of the Global South with the aim of “delinking” from relations of dependency on the North. This section traces the development of theories of mercantilism and economic nationalism from the 16th century to the 21st .

Mercantilism

The two-volume history of mercantilism by Eli Heckscher ( 1935 ) outlines at least four elements of this school of thought. Following List, and especially Schmoller, mercantilism is identified as the economic element of creating national states from disparate regions. Mercantilism is also characterized as a specific conceptualization of the nature of wealth that stresses the critical nature of inflows. The lack of reciprocal demand, the difficulty of facilitating accumulation in early agrarian societies, and the differential ability of various economic pursuits regarding generating employment opportunities are central to this element. A third characterization of mercantilism is as a body of policy designed to decrease the cost of inputs and facilitate production in the face of competition. Finally, mercantilism is characterized as a belief in the importance of enhancing the power and wealth of a state, so that it is better able to direct resources both at home and abroad. The best-known mercantilist theories focus on maintaining a positive balance of trade and payments by limiting imports or encouraging exports. One variant, bullionism, focuses on the desirability of increasing a country’s supply of gold and silver. (See Viner, 1937 , for a detailed history of English writings on mercantilism and “bullionism” prior to Adam Smith. A more recent and strongly proneoclassical liberal discussion of the relationship of historical theories of mercantilism to monetary policy can be found in Humphrey, 1999 .)

European exploration and conquest of new lands led to intellectual debate, starting in France in the 16th century , over which policies would best achieve these ends. An influx of gold and silver led to instability in the value of money. Commentators began to consider the government’s role in determining the value of money, the terms of trade, and other facets of what scholars since the mid- 20th century would call international political economy. Jean Bodin, for example, wrote in 1568 about how the value of specie would fluctuate with supply and demand and warned that government interference would only worsen the situation. “A ruler,” he wrote, “who changes the price of gold and silver ruins his people, country and himself” (cited in Turchetti, 2018 ). Instead, as Luigi Cossa ( 1880 , p. 117) noted, Bodin argued that the oversupply of money that resulted in price increases “would be turned to better advantage by a fiscal system promoting the growth of national manufactures in opposition to the excessive consumption of foreign goods.” Antoine de Monchrestien drew heavily on the work of Bodin to advocate for government protection of manufactures. (See Ashley, 1891 , and Perry, 1883 , for discussions of Monchrestien’s work.)

An influential supporter of mercantilism was Jean Baptiste Colbert, minister of finance for King Louis XIV of France. He increased taxes, created benefits for production that would substitute for imports, and worked to bring wealth into the country through his policies, which were referred to as Colbertism. In 1664 , he wrote a memorandum to the king in which he argued “that only the abundance of money in a State makes the difference in its greatness and power.” He advocated government intervention in markets to increase domestic manufactures, to encourage imports of raw materials to be used for manufactures, and to support the exportation of manufactured goods. To encourage French traders to sell goods widely, he also advocated rewards for building or buying new ships and for long-distance voyages (Colbert, 1998 ). Thomas Mun, a director of the British East India Company, expressed similar views in a widely read defense of mercantilism. He argued that a country’s wealth is increased if a positive balance of trade is maintained. England should try to produce as much of what it must consume as possible and import as little as possible for its own consumption. People should tame their appetites to avoid wanting foreign garments and foods. However, having English traders purchase valuable wares from distant locales, bring them back to England, and, from England, reexport them would, according to Mun, serve to increase the national treasure. Mercantilism, in other words, would result in a net inflow of gold and silver—commodities not produced in any great quantity from English mines—and this would be the only way for England to increase its wealth (Mun, 1895 ).

The protectionist policies of mercantilism held considerable attractiveness as countries sought to industrialize and develop their economies. Alexander Hamilton, the first U.S. Secretary of the Treasury, provided a Report on Manufactures to Congress in which he outlined steps that the young country should take to secure its economy, especially in opposition to the economic might of other countries. Creating an economy based on manufactures, Hamilton argued, would protect the United States from being dependent on other countries “for military and other essential supplies.” He implicitly countered the argument of the physiocrats, discussed in the section “ Early Liberal Writers ,” who stressed the importance of agriculture over manufactures. Hamilton maintained that the country was best served by encouraging the development of manufacturing. Using machines would allow for the full employment of the population (including women and children) in order to increase the country’s self-sufficiency—and therefore its wealth and security (Hamilton, 1913 , p. 3).

Friedrich List, a German scholar and politician who later became a naturalized American citizen, extended Hamilton’s argument by emphasizing that states should take advantage of their own human resources—that is, the ability of people to produce agricultural and manufactured products through their innovation, hard work, and the natural environment. He argued that “it is of the utmost concern for a nation [. . .] first fully to supply its own wants, its own consumption with the products of its own manufactures,” he wrote. Only then should a country trade with others. List also developed the proposition that young economies could not compete with more established, more technologically advanced ones until the younger country had invested in developing its domestic industry. He emphasized “that a nation is richer and more powerful in proportion as it exports more manufactured products, imports more raw materials, and consumes more tropical commodities.” Government policies should therefore work toward these goals (List, 1909 , pp. 76–77). For a classic but much overlooked contribution to the tensions between protectionism and free trade in theories of IPE, see E. H. Carr ( 2001 , pp. 41–62).

Economic Nationalism

The 20th century marked a shift in theoretical labels. “Mercantilism” was supplanted by “economic nationalism,” a more neutral term and one that is more easily interpreted from a realist perspective. Economic nationalists are realists who expect the contest for wealth to mirror the contest for power in international relations. However, they often articulate a somewhat schizophrenic view: theorists who write about economic nationalism often see it as an unfortunate, economically inefficient, but unavoidable fact of international life. For example, in 1931 , T. E. Gregory criticized economic nationalism, but explained that such policies continued to be implemented because citizens and governments were reacting to six factors. They (a) feared “dependence on foreign markets for the sale of your products”; (b) saw “the danger of intervention in the domestic market by the foreign capitalist”; (c) desired “to reserve for the intelligence of the country itself such positions of honour and prestige as are offered by the existence of growing industries and a growing financial structure”; (d) realized “the undesirability of allowing [. . .] raw materials to be owned by foreigners”; (e) worried about the risk “that in a period of war, if you depend on foreign food supplies, you may find yourself in a very difficult situation, and therefore you ought to grow your own food”; and (f) believed that keeping “agriculture going as a type of economic production” would guarantee a supply of “vigorous manhood”—men who would be strong soldiers in times of war (pp. 292–294). Similarly, Gregory’s contemporary, Charles Schrecker, begins his discussion of “the causes, characteristics and possible consequences” of economic nationalism with the caveat that he “consider[s] this tendency [toward economic nationalism] in its ultimate effects to be regrettable and detrimental to the future economic welfare of humanity” (Schrecker, 1934 , p. 208).

This differentiation between the scholars’ personal beliefs and their analytical stance continues in more recent scholarship. Judith Goldstein ( 1986 ) discusses the principle of “free and fair” trade as a norm of U.S. trade policy, and she finds that while “free trade” is consistent with liberal economic analysis (which, by implication, she endorses), “fair trade” refers to protecting U.S. firms from unfair trade practices of other countries. In other words, U.S. trade policy ultimately pursues mechanisms that support the interests of those groups that capture the state and persuade policymakers of their claims. Eric Helleiner ( 2002 ), through a careful reading of the 19th-century economic nationalists, makes the sophisticated argument that economic nationalism has always been nationalist—that is, realist—first and economic second. In other words, he argues that countries choose economic policies for nationalist purposes. Sometimes these policies will be liberal, when it suits the country to deploy liberal policies; sometimes the policies will be protectionist, when protection is expected to lead to desired ends. In this analysis, liberal policies may be wholly consistent with theoretical explanations of economic nationalism. In a similar vein, Robert Gilpin clarifies the separation of analytical tools and preferred outcomes. He implicitly accepts the normative goals of liberalism while interpreting behavior in terms of “state centric realism,” a theoretical perspective closely connected to economic nationalism. He writes, “Although realists recognize the central role of the state, security, and power in international affairs, they do not necessarily approve of this situation. [. . .] It is possible to analyze international economic affairs from a realist perspective and at the same time to have normative commitment to certain ideals” (Gilpin, 2001 , pp. 15–16). Cohn ( 2016 ) elaborates these difficulties in the treatment of “neomercantilism.”

Economic Nationalism and Development

For many theorists, however, economic nationalism takes on a more positive hue when argued from the position of infant industries and developing country economies that need to develop internally before they can compete in global markets. Thus, tenets of economic nationalism have appealed to many writers in the Global South. Julius Nyerere, the first president of Tanzania, could be considered a (somewhat ironic) example. Nyerere’s ujamaa (“familyhood”) policies can be divided into two: a frankly socialist “villagization” policy in which people were moved onto collective farms and a mercantilist self-reliance policy in which Tanzania was supposed to detach itself from dependence on the industrialized world. Ultimately, his policy failed on both counts: the collective farms were unproductive, Tanzania became more dependent on aid from other countries, and the democratic ideals of the movement deteriorated (Prashad, 2008 , pp. 191–203). The idea of self-reliance, however, resonates closely with economic nationalist emphasis on the ability of states to produce for their own basic needs (Amin, 1990 ; Nyerere, 1967 ).

In general, theories advocating import substitution industrialization fall into this category of developing country economic nationalism. Economist Raúl Prebisch, working on behalf of the United Nations Economic Commission for Latin America, formulated the theory of dependent development, which explained how industrialization in the developing world could continue to keep countries dependent on advanced economies in the “core.” These peripheral country economies were too closely tied to production for export. Instead, he argued that developing countries needed to implement import-substituting industrialization (ISI) policies. By delinking from the dependent economic relationships that they have with core countries, developing countries could build their own economies. He advocated the mechanization of agriculture, industrialization, and technological advance (Prebisch, 1986 ). In short, “the fundamental arguments of [Alexander] Hamilton’s Report on Manufactures have a striking similarity with those of Prebisch and his staff” (Grunwald, 1970 , p. 826). (Of course, the results of ISI policies have been highly uneven. See, for example, the analysis of Albert Hirschman, 1968 , and Vijay Prashad, 2014 , on the difficulties of ISI as a development strategy.)

From Classical Liberalism to Neoliberal Institutionalism and Neoclassical Liberalism

In contrast to the emphasis on state power and state interests that characterizes mercantilism and economic nationalism, liberalism emphasizes possessive individualism and the individual as the bearer of rights (Macpherson, 1973 ). The political economic theory that results from the emphasis on the individual is grounded in the idea that markets should be allowed to function as freely as possible and that the purpose of economic activity is not to benefit the government but rather to benefit individuals who, through their efforts, earn income, purchase goods, and constitute the basic unit of economic life.

Early Liberal Writers

Among the most important of these liberal rights from the perspective of political economy is that of property. For John Locke ( 1884 ), the right to property was natural; for David Hume ( 1992 ), the right to property was the result of interactions over time between people. (See also Sugden, 1989 , on Hume’s view of property.) Liberals reject the idea that the purpose of the state is to gather wealth. Instead, the state exists to provide security and to safeguard property.

In the liberal tradition, “political economy” came to be associated expansively with the relationship between governments, markets, welfare, and wealth. Discourse on Political Economy by Jean-Jacques Rousseau ( 1983 ), originally written for Diderot’s Encyclopédie , was an example of this. For Rousseau, political economy referred rather generally to those policies and laws that aim to protect and promote society being governed. What set Rousseau’s view apart from mercantilism was the liberal ethos that pervaded his writing: citizens were individuals who held rights; they had private wills; and collectively the community as a whole had a general will. States were bound by the rule of law and, in adhering to the general will, had the responsibility for protecting citizens’ rights, including property rights, but Rousseau was silent on what later writers would term “laissez-faire” policies, a free market vision of popular (as opposed to tyrannical) political economy. Instead, Rousseau seemed to have a very specific view of important government intervention in the economy: “One of the most important functions of the government” is to prevent extreme differences in wealth, since extremes of opulence and poverty erode the sense of “common cause” among citizens. To prevent such inequality and to provide the other functions of government, the state must tax, but, because the right to one’s own property was fundamental, taxation must be limited and levied fairly and progressively (those living at subsistence levels paying nothing, the rich paying relative to their wealth), in accordance with the general will. Rousseau’s popular political economy was thus liberal in protecting rights yet interventionist with respect to taxation and the uses of taxes.

The physiocrats introduced the idea of laissez-faire , laissez-passer (“let do and let pass,” in other words, the government should not interfere in the market) as a goal for states. They argued that the state should avoid intervention wherever possible, and especially avoid the taxation of agriculture. François Quesnay’s Economical Table presented a view of economics that placed a strong emphasis on the value of agriculture and the “sterility” of manufactures (Quesnay, 1968 ), in contrast to the mercantile emphasis on encouraging manufactures. The physiocrats favored agriculture because, in their calculation, the value of the output—crops—exceeded the value of the inputs used to produce the crops: land, labor, seeds, and the like. Artisans who manufactured things, the physiocrats maintained, only produced goods that equal the value of the inputs because competition would drive prices down to the level that only covered costs. Quesnay and the other physiocrats understood the limited supply of land and the ability of farmers to produce more than was needed for subsistence as evidence of the superior productivity of agriculture (Quesnay, 1968 ; also Bilginsoy, 1994 ). A major policy goal of the physiocrats was to “prevent deviations of the market price of industrial goods from their fundamental price, and to guarantee the maintenance of the proper price in the agricultural sector—the price high enough to cover the unit costs and rent” (Bilginsoy, 1994 , p. 531). The government, in their view, should limit taxes on agricultural products to ways that meet this goal. The French policies then in place of protecting manufacturers from foreign imports and of the government selling the right to tax farming to wealthy citizens thus had a particularly deleterious effect on the economy (Quesnay, n.d. ).

Adam Smith, whose Inquiry into the Nature and Causes of the Wealth of Nations is often seen as the foundational work in the field of political economy, built on the work of the physiocrats, as well as that of Hume. Smith, who first referred to political economy in the eighth paragraph of the introduction to the book, understood the term as concerning causal theories about what governments believe they ought to do—which policies they think they should implement—to increase their wealth. The purpose of political economy, according to Smith ( 1904 ), was

first, to provide a plentiful revenue or subsistence for the people, or more properly to enable them to provide such a revenue or subsistence for themselves; and secondly, to supply the state or commonwealth with a revenue sufficient for the public services. It proposes to enrich both the people and the sovereign. (Book IV, Introduction)

The first purpose is achieved primarily through free markets, with Smith advocating for reliance upon “invisible hand.” The second is achieved through some government involvement in the economy, including the provision of funds for militias to defend against foreign invaders; setting up a system to pay for the administration of justice (with revenues for this purpose coming, perhaps, from court fees); providing public works such as roads, bridges, and postal services (which, with fees attached, may produce revenue for the government); and education (Viner, 1948 ).

For what later came to be known as international political economy, Adam Smith, like the physiocrats before him, made a major intellectual contribution with his rejection of the common mercantile practices of his age. In contrast to mercantilists like Colbert and Mun, Smith opposed the government’s intervention in markets to maintain a positive balance of trade. Smith ( 1904 ) wrote:

We trust, with perfect security, that the freedom of trade, without any attention of government, will always supply us with the wine which we have occasion for; and we may trust, with equal security, that it will always supply us with all the gold and silver which we can afford to purchase or to employ, either in circulating our commodities or in other uses. (IV.1.11)

Some IPE scholars, however, have highlighted Smith’s “agonism” in relation to the contradictions of the free market system, reading Smith not so much as an unequivocal supporter of the laissez-faire economics, as he is often assumed to be, but rather as a careful observer of the positive and negative aspects of the market economy (Arrighi, 2007 ; Blaney & Inayatullah, 2010 ; Shilliam, 2020 ). This reading both contributes to a reappraisal of the classical tradition and serves as a critique of its contemporary reception in neoclassical economic theory, suggesting a different path for economic studies at large.

Immanuel Kant, in his famous essay on perpetual peace, extended the liberal optimism about the beneficial effects of trade. An international federation of republics would naturally trade with each other, and the positive effects of commerce would stand as a bulwark against hostilities. “The spirit of trade cannot coexist with war, and sooner or later this spirit dominates every people. For among all those powers (or means) that belong to a nation, financial power may be the most reliable in forcing nations to pursue the noble cause of peace (though not from moral motives)” (Kant, 1983 , p. 125). Thus, as scholars such as Jahn ( 2013 ) and Ince ( 2018 ) have demonstrated, classical liberal thought has always contained an essentially international dimension, the study of which is instructive for understanding later forms of liberal IPE.

Comparative Advantage

An important question for international political economy is, Why engage in international trade? In On the Principles of Political Economy and Taxation , Englishman David Ricardo ( 1821 ) built upon Smith’s support for international trade. In this work, Ricardo outlined the theory of comparative costs (comparative advantage), a cornerstone of trade theory to the present day. The common view had been that states trade with one another when one has an absolute advantage in the production of something and the trading partner has an absolute advantage in the production of something else. (If England produced cloth more cheaply than Portugal did, and Portugal produced wine more cheaply than England did, then both countries would profit from trade.) Ricardo’s insight was that even if a country produced both wine and cloth more cheaply than another, it still made sense for the countries to specialize in and export that good it had the greatest advantage in producing. This theory depended on another theoretical contribution from Ricardo, the labor theory of value: the value of a product can be represented in the amount of labor (person-hours) needed to produce it (a good summary of the theory can be found in Ruffin, 2002 ).

Comparative advantage continued to be a topic of discussion in international political economy. Swedish economists Eli Hecksher and Bertil Ohlin ( 1991 ) contributed a major extension of Ricardo’s theory by focusing on the role that factor endowments play in determining comparative advantage. Since land, labor, and capital move less easily than goods, a country should specialize in those products that are produced with the factors that are relatively abundant in the country. (Jacob Viner, 1937 , pp. 500–507, provided a summary and critical analysis of this theory, and Wolfgang Stolper and Paul Samuelson further developed the theory by examining what happens to prices when two countries move from not trading to trading. The consequence can be higher prices, which can affect income distribution, as discussed in Lindert and Kindleberger, 1982 , pp. 58–60.)

Some scholars have begun to note areas in which the traditional understanding of comparative advantage no longer fits the evidence. For example, Michael Storper ( 1992 ) finds that

the world of production has changed fundamentally since the time of Ricardo. We now live in a world where factors of production for technologically stable products are not endowed, but produced as intermediate inputs. Almost any developed country making the effort can become as efficient as the next country in a technologically stable manufacturing sector. (pp. 63–64)

Storper ( 1992 ) argues that products that depend on technological innovation are traded with respect to “technological advantage” rather than comparative advantage.

Another question about the validity of comparative advantage is raised by strategic trade theory. James Brander and Barbara Spencer ( 1985 , p. 83) showed how protection through subsidies would “change the initial conditions of the game that firms play” and make a firm more profitable. By calibrating the protection properly—not too much, not too little—states, according to strategic trade theory, can lead to an equilibrium that may be jointly suboptimal, but the protecting country still gains because its firm is able to earn more. Although strategic trade theory shares some elements with mercantile support for the protection of infant industry, those arguing for strategic trade theory place themselves within a liberal model and seek rational intervention at the best possible levels (i.e., levels that provide net benefits). Some scholars suggest that strategic trade theory is most useful when considering the challenges faced by industries when there are large economies of scale, high learning curves, and knowledge-intensive advanced manufacturing processes. Paul Krugman and others offer a cautionary note, however. The benefits of strategic trade theory fall mainly to the protected firm or industry, not to the domestic economy. Overall costs are likely to outweigh benefits, especially when protectionism leads to trade war (Krugman, 1994 ).

Two Strands of Liberalism: Keynesianism and Neoclassical Liberalism

As the questions raised by strategic trade theory suggest, liberals wrestle with the appropriate role of the state in the economy. Since the middle of the 20th century , liberalism has been bifurcated into two major strands: Keynesianism and neoclassical liberalism. Keynesian economics, named after John Maynard Keynes, sees direct government intervention in markets as a way to improve welfare and make the economy function better, especially given inescapable market failures and inefficiencies. Neoclassical economics, sometimes understood as libertarianism, draws on the writings of Ludwig von Mises, Friedrich Hayek, and others who believed that governments had become too involved in the economy and that freedom suffered as a result. Keynesianism filtered into international political economy, with variants consistent with integration theory, neoliberal institutionalism, and regimes (which are a form of neoliberal institutionalism). Neoclassical liberalism can be seen in the “Washington Consensus,” which has led to deregulation of global and domestic economies, decreases in foreign aid, and further reliance on marketization.

Keynesianism and Neoliberal Institutionalism

John Maynard Keynes ( 1883–1946 ) served on the British delegation at the Paris Peace Conference in 1919 . He resigned from this position in opposition to the draconian terms of peace. The Allies, in ending the war “with France and Italy abusing their momentary victorious power to destroy Germany and Austria-Hungary now prostrate, they invite their own destruction also, being so deeply and inextricably intertwined with their victims by hidden psychic and economic bonds” (Keynes, 1920 , I.4). During World War II, he served on the British delegation in the Bretton Woods negotiations on the postwar monetary order. Central to Keynesian economics is the idea that free markets will not ( contra classical theory) always find an equilibrium at full employment. Instead, crises of underemployment call for public expenditures, for example, in public works (Keynes, 1936 , 1937 ; Galbraith, 1968 .)

Integration Theory

An important inference from Keynesianism is that institutions and governance can be used to create better political, social, and economic outcomes. In contrast to economic nationalism and to neoclassical economics, as James Caporaso ( 1998 , pp. 3–4) noted, integration theorists understood that institutions matter because institutions alter the conditions in which exchanges of various kinds take place by establishing rules. In addition, integration theorists explicitly tied a goal of peaceful relations among nations to integration: liberal markets, with well-functioning institutions, would lead to peaceful outcomes that would be conducive to commercial ties, which would once again feed back and encourage more cooperation. Drawing on both Keynesian liberalism and contributions from sociology to an understanding of cooperative action (Parsons, Shils, & Smelser, 2001 ), integration theory sought a formula for creating the institutions that would promote positive, peaceful outcomes.

Historically, integration theory emerged with discussion by David Mitrany ( 1948 ) of functionalism and world organization. With the cataclysmic effects of both world wars firmly in mind, Mitrany described a world in which functional integration—cooperation and institution building on specific functional tasks and in specific functional areas—would lead to a more peaceful outcome. He wrote:

If one were to visualize a map of the world showing economic and social activities, it would appear as an intricate web of interests and relations crossing and recrossing political divisions comes that would be conducive to commercial, but a map pulsating with the realities of everyday life. They are the natural basis for international organizations: and the task is to bring that map, which is a functioning reality, under joint international government, at least in its essential lines. The political lines will then in time be overlaid and blurred by this web of joint relations and administrations. (Mitrany, 1948 , pp. 358RERL)

Karl Deutsch and Ernst Haas both furthered the study of how functional cooperation may lead to political cooperation. Deutsch found “economic ties,” communication across territorial borders and social strata, “mobility of persons,” and a wide range of different kinds of communication and transaction (among other factors) to be necessary conditions for amalgamation of separate states into a “security-community” (Deutsch, 1957 , p. 58). Haas ( 1964 ) further emphasized the connection between liberalism and functional integration theory. “Integration,” he wrote, “is conceptualized as resulting from an institutionalized pattern of interest politics, played out within existing international organizations. [. . .] There is no common good other than that perceived through the interest-tinted lenses worn by the international actors” (p. 35). Having functional interests in common, states would be able to cooperate, especially when international organizations create the conditions that would facilitate cooperation. Unfortunately, this theory failed in that the hopeful expectations about how international organizations would foster integration and peaceful cooperation did not come to fruition (at least not in the near term, after the publication of these works). Philippe Schmitter offered a revision of the theory that was at once more modest in its predictions and less precise in its specifications of complex expected interactions. Schmitter ( 1970 ) thus presents a less deterministic version: under some conditions, integration may result from the complex functional interactions of states.

Interdependence, Regimes, and Neoliberal Institutionalism

Although it soon became apparent that the hopeful expectation about how international organizations would foster integration and peaceful cooperation would not come to fruition, the main liberal tenets of integration theory continued to play a role in IPE theory. Neoliberal institutionalism soon superseded integration theory as the major approach to IPE among those who followed this Keynesian side of liberalism. The “institutionalism” in neoliberal institutionalism may have been drawn from the economics literature, in which institutionalism referred to “an approach which stresses the interactions between social institutions and economic relationships and aspects of behavior, aims to present an orderly arrangement of economic phenomena in which institutions are elevated from the status of the exception and the footnote, and integrated with the main body of economics” (Eveline Burns, in Homan et al., 1931 , p. 135). Both sociology (Parsons, 1935 ) and political science (Apter, 1957 ) adopted the term, to refer to approaches that explore how organized groups are and what they do in society.

Early links between institutionalism and political economy can be found in an International Studies Association conference panel on “Patterns of International Institutionalism” (Rohn, 1968 ). James March and Johan Olsen ( 1984 ) reviewed the revival of institutionalist thought in political science in the 1970s and 1980s and suggested that the new institutionalism is “simply an argument that the organization of political life makes a difference.” From this parsimonious insight, however, institutionalists opened the examination of how cooperative interactions could regularly, even ubiquitously, comprise IPE. These investigations resulted in the development of both interdependence theory and the concept of international regimes.

“Interdependence,” encapsulating various kinds of interactions and mutual dependencies that promoted peaceful interactions, did not rise to the level of significant scholarly appreciation until the 1970s. The idea had been around for a while. In 1958 , John Foster Dulles, then Secretary of State of the United States, referred specifically to interdependence when he asserted that providing development aid and encouraging trade would combine with military security cooperation to prevent developing countries from falling into the Soviet orbit. A few years later, Vincent Rock ( 1964 ) suggested, perhaps in a fairly unrealistic vein, that interdependence in scientific, trade, and other kinds of interactions would lead to peace between the United States and the Soviet Union. Edward L. Morse refined the concept of interdependence to argue that the “low policies” that involved economic transactions and welfare interests were becoming more important for international relations than the “high policies” of military strategic concerns. Consequently, “the classical goals of power and security have been expanded to, or superseded by, goals of wealth and welfare. [. . .] [T]he old identification of power and security with territory and population has been changed to an identification of welfare with economic growth” (Morse, 1970 , pp. 379–380). Richard Cooper ( 1972 , p. 159) further developed the idea “to refer to the sensitivity of economic transactions between two or more nations to economic developments within those nations.” Cooper, however, saw interdependence as a policy conundrum for states, rather than as a means to more peaceful outcomes in international relations. Richard Rosecrance and Arthur Stein ( 1973 , p. 22) emphasized the unpredictability of the situation in the 1970s: “Whether interdependence will emerge as positive or negative will depend largely on old-fashioned cooperation among governments.”

In a 1974 publication, Robert O. Keohane and Joseph S. Nye Jr., focused on interdependence between the United States and Canada. Drawing on Oran Young’s definition of interdependence (Young, 1968 ), Keohane and Nye ( 1974 , p. 606) studied “patterns of interdependence, particularly with regard to symmetry” on policy issues and how patterns of interdependence were “used as sources of bargaining power.” Keohane and Nye ( 1977 ) further developed this concept into “complex interdependence,” in which actors would have varying levels of sensitivity or vulnerability to each other across “multiple channels” (i.e., across different issue areas) in which military issues would not be more important but rather there would be no clear hierarchy among the issues; and in which these ties across these issues would preclude the use of military force.

Attention to interdependence and international institutions highlighted how states and other actors were sensitive and vulnerable to each other. Scholars also questioned whether the interdependence would lead to coordinated action to solve collective international public goods problems. Even if integration, in the functional sense, was not happening completely and directly, could some sort of coordination short of full-fledged integration be going on? International “regimes,” a term borrowed from the legal scholarship by Ernst B. Haas, provided a tentative affirmative answer to this question. In Haas’s description, international regimes were “collective arrangements among nations designed to create or more effectively use scientific and technological capabilities” and that would “minimize the undesired consequences associated with the creation and exploitation of such capabilities” (Haas, 1975b , p. 147; see also Haas, 1975a ). Later debates over the definition of the term included Haas’s restatement: “ Regimes are norms, rules, and procedures agreed to in order to regulate an issue-area ” (Haas, 1980 , p. 358 (emphasis in the original); see also Young, 1980 ). Keohane and Nye ( 1977 , p. 19), in their book on interdependence, took up the issue of regimes as well, referring to them as “the sets of governing arrangements that affect relationships of interdependence.”

The concept of regimes became more formalized in 1982 with the publication of a special issue of the journal International Organization edited by Stephen D. Krasner ( 1982a ), which was republished as an edited book (Krasner, 1983 ). The group of influential scholars writing for this publication agreed upon a uniform definition:

Regimes can be defined as sets of implicit or explicit principles, norms, rules, and decision-making procedures around which actors that affect relationships of interdependencees” (Haasterdependence would lead to coordinated action to solve collective inte. Norms are standards of behavior defined in terms of rights and obligations. Rules are specific prescriptions or proscriptions for action. Decision making procedures are prevailing practices for making and implementing collective choice. (Krasner, 1982b , p. 186)

Under this umbrella definition, the authors divided themselves into three separate groups: those who understood regimes to be ubiquitous, “Grotians,” since their views were consistent with that of the 17th-century scholar of international law, Hugo Grotius (Young, 1980 ; e.g., Puchala & Hopkins, 1982 ); those who saw in regimes a possibility for states to escape—sometimes—the pessimistic outcomes of a realist world by creating opportunities for rational actors to cooperate (the “modified structuralists,” like Stein, 1982 ); and those, represented in the volume by Susan Strange ( 1982 ), who thought that regimes obscured, rather than elucidated, what was really going on in the world. (None of these authors questioned who “gave” the issue area, or how it was given, a question that was later raised by constructivists such as Onuf, 1989 , and Marlin-Bennett, 1993 .)

Notwithstanding criticisms, the usefulness of the analytical construct of regimes was that it shifted attention to issues, those questions of international political economy around which negotiations were held, agreements struck, deals kept or not kept. The regimes literature spawned a host of studies of different kinds of issues. By looking at the institutions and the normative structures that made cooperation possible, regimes theorists and empirical researchers opened up the opportunity to see how the vast majority of interactions in the world—those that do not involve military hostilities—actually occur and are ordered. Among the many such works are Rittberger ( 1993 ), Martin and Simmons ( 1998 ), Nadelmann ( 1990 ), Nye ( 1987 ), Peterson ( 2005a ), and Cogburn ( 2017 )

The attention to institutions and the role they play under conditions of a relatively liberal international political economy led scholars to start referring to all these approaches to integration and regimes in a globalizing world as “neoliberal institutionalism” (Keohane, 1984 ). Often contrasted with structural realism, neoliberal institutionalism assumes that rational actors can cooperate under conditions of anarchy because institutions provide rules that the actors are willing to accept and because actors are happy with absolute gains, rather than struggling for relative gains (as a state-centric realist or economic nationalist would assume), from any set of proposed arrangements. Many, however, see flaws in the theoretical edifice of neoliberal institutionalism. Robert Powell ( 1991 ), for example, suggests that both structural realism and neoliberal institutionalism are special cases of a single model of states attempting to pursue their interests under conditions of anarchy and constraints imposed by different capabilities among the actors in the system. Others contest neoliberal institutionalism’s empirical validity (Drezner, 2001 , among others) and its conceptualization of anarchy (Grieco, 1988 ). Yet others disagree with the implicit assumption that neoliberal institutionalist cooperation is good , that cooperation necessarily leads to more peaceful, more materially comfortable, and more emancipatory outcomes (Keeley, 1990 ; Kokaz, 2005 ; Marchand, 1994 ). The intellectual history by Cohen ( 2008 ) provides an overview and assessment of the development of regimes theory.

Neoclassical Liberalism

The other major stream of liberalism diverges from the neoliberal institutionalism and the Keynesian emphasis on coordination through regulation of (global) economic interactions. The neoclassical liberals, including economists of the Austrian School and leading U.S. economists such as Milton Friedman, understood government intervention as damaging to markets and consequently to the economic freedoms of society. Ludwig von Mises and Friedrich A. von Hayek, two leaders of the Austrian School, advocated antisocialist, antigovernment intervention policies (Hayek, 1994 ; von Mises, 1998 ).

Milton Friedman similarly argued in favor of letting markets operate without government intervention. Government policies that seek to manipulate markets for political outcomes are unavoidable errors, in his view. In an article coauthored with Anna J. Schwartz, the economists conclude that

leaving monetary and banking arrangements to the market would have produced a more satisfactory outcome than was actually achieved through governmental involvement. Nevertheless, we also believe that the same [political] forces that prevented that outcome in the past will continue to prevent it in the future. (Friedman & Schwartz, 1986 , p. 311)

For Friedman, the role of government is important but limited. With Rose Friedman, he wrote:

“Government is essential both as a forum for determining the ‘rules of the game’ and as an umpire to interpret and enforce the rules decided on.” Markets, on the other hand, “reduce greatly the range of issues that must be decided through political means, and thereby [. . .] minimize the extent to which government need participate directly in the game.” (Friedman & Friedman, 1982 , p. 15)

The ascendancy of laissez-faire economics resulted in the dominance of the “Washington Consensus,” which changed the way the international financial institutions (especially the World Bank and the International Monetary Fund) and governments made policies on foreign aid from the 1980s through the 1990s. Proponents of the Washington Consensus placed efficiency of the economy as their highest objective. Further, they did so under the assumptions that efficiency was good and that they understood mechanisms of economics sufficiently to identify good, efficient policies (Williamson, 1993 , p. 1330). Though pursuing equity or more fair distribution of resources had often been considered a goal of policy, supporters of the Washington Consensus were not concerned with equity; at best, they saw the possibility that some improvements in equity could come about “as a byproduct of seeking efficiency objectives” (Williamson, 1993 , p. 1329). As Dani Rodrik ( 2006 ) sardonically recounted:

Any well-trained and well-intentioned economist could feel justified in uttering the obvious truths of the profession: get your macro balances in order, take the state out of business, give markets free rein. “Stabilize, privatize, and liberalize” became the mantra of a generation of technocrats who cut their teeth in the developing world and of the political leaders they counseled. (p. 973)

Ultimately, the popularity of the Washington Consensus waned as it failed to produce positive economic growth in developing countries. By 2005 , the World Bank issued a careful analysis of the failures of its own policies that implemented the neoclassical economics of the Washington Consensus (Zagha & Nankani, 2005 ). The failure of the Washington Consensus cast attention back onto other liberal, but not neoclassical, political economy theories, specifically those dealing with how institutions can resolve externalities and other forms of market failure in an otherwise liberal global political economy.

In the wake of the decline of the Washington Consensus and the financial crisis beginning in 2008 , special mention of the scholarship of Susan Strange must be made. Strange, who could be classified, broadly, as a liberal in her understanding of markets and efficiency, strongly criticized the neoclassical position. She understood that markets did not function in the absence of good governance. Indeed, in 1986 and again in 1998 she analyzed a global political economy in which states had ceded control to markets, with the expectation of disastrous results for volatility and the health of the global economy (Strange, 1986 , 1998 ). She saw clearly the danger of fast-moving financial flows in a global political economy in which no government provided the appropriate regulation to ensure fair dealing and protect against the negative externalities that result when rational self-interested agents pursue their self-interest in the absence of such regulation. No one has been overseeing the global financial system, and the result has been, as Strange ( 1986 ) predicted, serious harm.

Strange’s contributions have only been confirmed in the wake of the global financial crisis of 2008 , in response to which liberal theorists have been challenged to critically reformulate the ideal and real relations between market forces and state planning. Landmark works in the empirical study of financial crisis and contemporary inequality such as Picketty ( 2014 ) and Tooze ( 2018 ) are essential contributions to the study of the contemporary salience of finance and financial crisis in contemporary global capitalism. Indeed, as John Ikenberry ( 2018 ) observes, the liberal international order faces grave challenges from resurgent economic nationalisms and social conservatisms. In addition to this 21st-century political challenge, the liberal tradition has historically been most broadly and deeply challenged by Marxian theories of global political economy.

Marxian Global Political Economy

The third major school of thought in international political economy has been Marxism, along with several “neo”-variants. Karl Marx, along with Friedrich Engels and (later) Vladimir Lenin, is considered the progenitor of a political economy that emphasizes the role class plays in society. Although the dissolution of the Soviet Union and the systemic changes within the People’s Republic of China have demonstrated the failures of Marxian-influenced policies, Marxian thought offers a useful critique of the structure of the global political economy by shedding light on capitalism and the production of inequities.

Marx, writing in the mid- 19th century , combined philosophical investigation of political economy with activism. He witnessed a world that was being changed by industrial development, in which the workers were increasingly subject not just to the authority of the state but also to the control of the capitalist. Marx adapted Hegel’s dialectic to the material world, seeing the contradictions within capitalism driving change, which he expected to lead to revolutionary transformation of society. This notion of the dialectic and the teleological view of history—that these contradictions would inexorably lead to a communist society as the predictable end state and (ironically, somewhat self-contradictorily) that this unavoidable revolutionary change should be fomented—has not been borne out and, arguably, has been contradicted. The Communist Manifesto (Marx & Engels, 1983 ) remains, though, the clearest explication of Marx’s view.

In terms of the development of political economy, Marx broke with the liberals in his identification of the sphere of production, as opposed to the sphere of exchange, as the focal point of sociopolitical and economic dynamics. Market mechanisms were relatively fixed, but the politics of production—whether it is on land used to grow food or on the shop floor—determined the nature and dynamics of the social order. Though there are several “Marxian” variations of the broad sweep of history, we basically find a succession of stages that are differentiated by the nature of the ownership of the means of production. Early history is characterized as an era of “primitive capitalism” without specialization where all members of the human community were essentially equal in the tasks they pursued and the status they held. A long period characterized by slavery followed, where some people subjugated others to the status of chattel and appropriated their labor power directly. This system is inefficient and comes to be plagued with high costs involved in maintaining order and overseeing production. In Europe, the period of slavery is followed by feudalism, where direct ownership of individuals ends, but peasants are nonetheless tied to the land, which itself can be owned. The peasant thus owes the owner of the land a level of labor dues. The transition to capitalism emerges when the social relations of production (the social overlay of the feudal system in this latest stage) become impediments to further development. Feudalism’s limits lead to changes that find landowners failing to control their charges, and peasants taking up a new position in the economy. They are stripped of their land and put in a position where they must sell their labor power in the market for a wage.

Marx extended this concept of alienated labor in two ways that are important for the study of global political economy. First, he emphasized the alienation of labor as the definitive element in the capitalist system. The division of labor in an industrializing society meant that workers would have no choice but to sell their labor power as a commodity to survive. In doing so, the worker sells his power of production to the capitalist. The alienation of the worker from his own labor gives a special viciousness to the class relations that characterize the capitalist mode of production (Marx, 1983a ). Second, Marx examined how the alienation of labor led to the accumulation of “surplus value,” the profit that accrued to the capitalist when the price of a good exceeded the wages the capitalist paid the laborer for its production. The wage laborer would only earn enough for their subsistence, but the capitalist would be able to take in the surplus, which would be much greater than that needed for the capitalist’s subsistence (Marx, 1983b ).

Vladimir Lenin’s tract, Imperialism: The Highest Stage of Capitalism—A Popular Outline , brought Marxian thought into the global political economy. Lenin extended Marx’s predictions, showing how capitalism would spread around the world, leading to an ultimate contradiction of inter-imperialist conflict. As capitalism became more advanced, the accumulation of surplus value led to the concentration of ownership through the rise of monopolies. Bank ownership became concentrated and closely interconnected with the interests of monopoly capital. According to Lenin, the results were monopolistic “finance capital.” Further, the connections between capital and banks were “completed” by tight connections between each of these and the state. The consequence, Lenin wrote, was a shift in capitalism. “Under old capitalism, when free competition prevailed, the export of goods was the most typical feature. Under modern capitalism, when monopolies prevail, the export of capital has become the typical feature” (Lenin, 1982 , p. 62). He argued that the “superabundance of capital” in the advanced capitalist countries drove exports, and capitalism spread throughout the world. Furthermore, imperialism was the natural result, as finance capital moved to expropriate the raw materials of the colonies. The result was the immiseration of the masses, both within the advanced capitalist countries and abroad, “for uneven development and wretched conditions of the masses are fundamental and inevitable conditions and premises of this mode of production” (Lenin, 1982 , pp. 62–63 [emphasis in the original]). The ultimate contradiction between capitalism and monopoly and the push for domination eventually must lead, Lenin stated, to inter-imperialist rivalry and, finally, the decay of monopoly capitalism.

Where Marx saw the spread of the capitalist mode of production to all societies as inevitable, other critical scholars were concerned that capitalism was creating not models of itself but of a new kind of social order. Dependency scholars argued that instead of facilitating the growth of capitalism in the third world, capitalist and imperialist actions were leading to a system where real capitalism could not possibly develop. What we were witnessing, they argued, was “the development of underdevelopment” (Gunder Frank, 1969 ). Dependency scholars argued that capitalist interests often strengthened precapitalist forms of exploitation. Hence, large landowners would solidify their position in a society by reaping the benefits of a captive population of laborers in a system more akin to feudalism than capitalism, but without the internal contradictions that would lead to its transformation. The ability of one society to warp the subsequent developmental path of another, given the incentives that trade relations with capitalists offered, was described by Sweezy ( 1942 ), Baran ( 1957 ; Baran & Sweezy, 1969 ), Gunder Frank ( 1969 ), Cardoso and Faletto ( 1979 ), dos Santos ( 1970 ), and Amin ( 1976 ). Amin, for example, examined how accumulation differs in the core of developed countries and the periphery of developing countries. In the wealthier core, the masses are essentially co-opted through the production and availability of the consumer goods needed to satisfy them. In the periphery, production is focused on luxury goods and exports, thereby further enriching the dominant classes and leaving the needs of the masses unfulfilled and the people marginalized.

Marxist scholars considered this analysis to be flawed by its concern for actions taking place in the sphere of exchange (trade between core and periphery) and not the sphere of production (more class-based analysis). Supporters of the original Marxian formulation like Laclau ( 1971 ) and Warren ( 1973 ) produced critical analyses of dependency arguments. Brenner ( 1977 ) labels dependency and related schools of thought “neo-Smithian” in orientation and therefore fundamentally un-Marxian.

Dependency scholarship was quite popular given its ability to explain both underdevelopment and the failure of class politics to grow along traditionally identified Marxist paths. In the 1970s, Immanuel Wallerstein brought dependency and a desire to reconceptualize the developmental paths of the advanced industrial states in the long-term approach of Fernand Braudel ( 1982–1984 ) together to form world-systems analysis. Wallerstein ( 1974 ) dated the origins of the development of the “capitalist world-economy” to the long 16th century . He was able to add political and cultural conditions to the essentially materialist analyses of longer-term critical history. Wallerstein ( 2004 ) understands a world-economy as

A large geographic zone within which there is a division of labor and hence significant internal exchange of basic or essential goods as well as flows of capital and labor. A defining feature of a world-economy is that it is not bounded by a unitary political structure. Rather, there are many political units inside the world-economy, loosely tied together in our modern world system in an interstate system. And a world-economy contains many cultures and groups—practicing many religions, speaking many languages, differing in their everyday patterns. This does not mean that they do not evolve some cultural patterns, what we shall be calling a geoculture. It does mean that neither political nor cultural homogeneity is to be expected or found in a world-economy. What unified the structure most is the division of labor which is constituted within it. (p. 23)

Wallerstein also came under critical scrutiny for keeping “capitalism” at the core of his analysis. Scholars like Chase-Dunn and Hall ( 1991 , 1997 ) sought to push the elements of world-system analysis to earlier eras in explicitly comparative work. Others, like Gunder Frank and Gills, argued for the abandonment of “capitalism” as the core of global developmental concerns, and argued for the development of a world system history that would cover the last 5,000 years of human history (Gunder Frank, 1998 ; Gunder Frank & Gills, 1993 ). All these works are essentially emancipatory in their intent. They share the view that poverty is a central problem, that global inequalities should be addressed, and that remedies must be adopted.

Italian communist Antonio Gramsci continues to have a major influence on the field of international political economy. Gramsci, who was influenced by Marx, Lenin, and other socialist and communist thinkers, contributed the concept of Gramscian hegemony to the study of IPE. While in liberal and realist IPE, hegemony simply refers to a single state having a preponderance of power, Gramsci looked at the complex interconnection between the material and productive base of the social order (the structure) and philosophy, ideas, culture, and relationships (the superstructure). Hegemony is in place “in so far as it creates a new ideological terrain, determines a reform of consciousness and of methods of knowledge” (Gramsci, 1988 , p. 292). For Gramsci, a class is hegemonic when it is able to lead through the consent of those it controls, because of this complex set of dominant “ethico-political” ideas, and through force, in terms of ownership and organization of economic activity. Giovanni Arrighi ( 1994 ) summarizes Gramsci’s definition of hegemony as

the capability of a state to lead the system of states itself in a desired direction—that is, to set the rules for the system in ways that buttress rather than undermine the world power of the hegemon. [. . .] (p. 365)

Here we should remember Gramsci’s point that intellectual and moral leadership (Machiavelli’s consent) is as critical to the effective exercise of hegemony internationally as coercion pure and simple is at the national level. Henk Overbeek ( 1994 ), however, emphasizes that hegemony in the global political economy has to do more with dominance of a class—specifically of the capitalist class.

Another important Gramscian term is “historical bloc,” which refers to the dynamic dialectical relationship between the material and productive base and the superstructure of ideas. As Robert W. Cox ( 1999 , p. 5) explains, “Gramsci was less concerned with the historic bloc as a stable entity than he was with historical mutations and transformations, and with the emancipatory potential for human agency in history.” In short, the relationship between civil society and the state within any historical bloc will embody both the existing hegemony and the seeds of counterhegemonies. “Civil society was the ground that sustained the hegemony of the bourgeoisie but also that on which an emancipatory counterhegemony could be constructed” (Cox, 1999 , p. 3).

Like Gramsci, Karl Polanyi ( 2001 ) saw society resisting the negative consequences of capitalist markets. In The Great Transformation , he argued that a “double-movement” resulted from social forces pushing back against the aspects of a market-driven society. Polanyi also saw the relationship between society, markets, and the state as historically situated, with technological and policy innovations leading to changes in society. Polanyi traced the creation of the self-regulating market economy through the commodification of land, labor, and specie, social changes that made the industrial revolution and the rise of “haute finance” possible.

Both Gramsci and Polanyi have influenced a cohort of critical IPE scholars, including Robert Cox ( 1996 ), Stephen Gill ( 2003 ; see also Gill & Mittelman, 1997 ), Craig Murphy ( 2005 ), James Mittelman ( 2004 ), and Mark Rupert ( 2000 ). Gramscian global political economy has been particularly relevant to the study of globalization and the spread of liberal markets around the world. These approaches to global political economy suggest that the existing tension in the world between the antiglobalizers and the proglobalizers has at root a dialectical contestation between hegemonic and counterhegemonic groups. These authors focus on the importance of groups and other nonstate actors, as well as states, since civil society within the global political economy includes a variety of types of actors.

The global financial crisis of 2008 provided the impetus for Marxian-influenced scholarship focusing on globalization. Marxian analyses of global financial crises differ from their liberal counterparts in emphasizing the structural nature of these periodic crises. That is, Marxian theorists tend to locate the tendency for economic crisis in the very nature of the system, as a necessary and (relatively) predictable feature, impossible to explain by reference to the individual decision-making of leaders and firms alone (Harvey, 2010 ; Krippner, 2011 ).The tensions between a liberal and a Marxian analysis of capitalism’s crisis tendencies are displayed in the substantive critique of the liberal approach in Crashed by Adam Tooze ( 2018 ; see Anderson, 2019 ). Some of this research, as discussed in the section “ Postcolonial Approaches ,” emphasizes the consequences of capitalist crises in postcolonial societies (e.g., Krishna, 2009 ).

Feminist Global Political Economy

Despite the differences among them, the three most common approaches to global political economy (liberal/neoliberal, mercantile/economic nationalist, and Marxian) tend to assume that the buying, selling, and production of goods and services are what matter. Important actors in the analysis, be they firms and consumers, states, or classes, are all engaged in buying and selling, producing goods and services for sale, and seeking wealth (Tickner, 1992 ). Feminist approaches to global political economy highlight two important points that are usually overlooked. First, people are gendered, and gender is generally understood hierarchically, with men and activities that are understood as masculine (competing, making money) being valued more highly than women and women’s activities. Second, productive (i.e., market-based) activities are not the only things that happen in society; rather, society needs, but, again, does not value as highly, the activities of the reproductive economy—the unpaid work necessary to create a home life, provide leisure activities, and care for family members. These reproductive activities are almost universally associated with feminine characteristics and are not considered by mainstream global political economy analyses. As V. Peterson ( 2005b ) argues, however, understanding the analytical implications of gendered hierarchies provides a more complete understanding of processes of the global political economy (see also Griffin, 2007 ). The approach by J. K. Gibson-Graham ( 2006 ) to decentering and reconceptualizing the capital-labor relation opens an analytical space for feminist theorizations of GPE along these lines.

The marketization of the global political economy, including the integration of emerging market economies, also has important gender implications. As some scholars note, these changes are not necessarily simply good or bad. On the negative side, the informalization of labor—the changing nature of available jobs from regular, full-time employment to part-time, temporary, or independent contracting arrangements—adds significant uncertainty to households’ economic stability. The effect is more pronounced on women’s work and on the feminized jobs held by men. On the positive side, globalization has also brought increasing equity in educational opportunities and increased access to some jobs (Benería, Floro, Grown, & MacDonald, 2000 ; Peterson, 2005b ). Similarly, Jacqui True, in a case study of the Czech Republic, finds that “the commodification of gender is facilitating the extension of markets,” with the dual effect of “empower[ing] women as much as it subjects them to new forms of discipline and market civilization” (True, 1999 , p. 363).

Consequently, a further contribution of feminist GPE has been to challenge the pervasive association of the study of the global or the totality with a masculine drive to dominance. Instead of combatting the impulse to study the global by turning to a study of microrelations, feminist GPE has developed theories and methods for understanding gender as a mechanism of producing and rationalizing the inequalities within global capitalism (Bhattacharya, 2017 ; Fraser, 2013 ; Tepe-Belfrage, 2016 ). Hozic and True ( 2016 ) bring together a variety of feminist and queer perspectives on global financial crisis, highlighting how these concerns cannot be consigned to the margins of the study of global economic processes.

Postcolonial Approaches

A burgeoning literature in postcolonial political economy has emerged through critical conversation with traditional IPE. This literature mobilizes a critique of Eurocentrism in political economy and foregrounds the structural impact that colonial histories continue to exert on global economic life (Dirlik, 1994 ; Grovogui, 2011 ; Lowe, 2015 ; Shilliam, 2018 ). Another key contribution of postcolonial theory to political economy has been its critique of Eurocentric epistemologies and its attention to the knowledge traditions and economic formations of the non-West (Agathangelou & Ling, 2003 ; Blaney & Inayatullah, 2010 ; Ling, 2000 ; Shilliam, 2012a , 2020 ). Robbie Shilliam ( 2009 , 2012b ), for example, theorizes about Atlantic slavery and its consequences for our understanding of liberal and Marxian IPE.

Debates continue over whether Marxian theory is essential to a postcolonial project of emancipation and self-determination (Rao, 2017 ). On the one hand, the reading of Marx by Dipesh Chakrabarty ( 2008 ) has inspired new possibilities for the critique of the coloniality and the racism of capitalism’s history and present (e.g., Persaud & Sajed, 2018 ; Tilley & Shilliam, 2018 ). On the other hand, Hobson ( 2012 , 2013a , 2013b ) argues that Marx and Lenin’s theoretical edifice is too indebted to a colonial worldview in which the West represents the model of future progress and social development. An influential Marxian critique of postcolonial studies can be found in Chibber ( 2013 ). Notwithstanding these tensions, scholars continue to draw inspiration from both postcolonial theory and Marxian theory to construct critiques of contemporary global capitalism. For example, Anievas and Nişancıoğlu ( 2015 ) have brought the sensibilities of the Marxian tradition together with postcolonial theory to highlight the irreducibly global or intersocietal history of capitalism, and Khalili ( 2020 ) takes stock of the colonial echoes that resonate within global trade flows from the standpoint of the Arabian Peninsula.

Upon entering the third decade of the 21st century , three rapidly evolving areas of scholarship, discussed briefly in this section, are likely to continue to be of interest and grow in importance: China and the transition of the neoliberal world order, queer global political economy, and “precarity” of the global workforce.

Prior to the 1990s, research on China generally focused on processes of development and modernization of a peripheral country. As China made initial changes to its economy and began to participate more in global trade, new questions emerged. Jacobson and Okensenberg ( 1990 ), for example, examined the impact of the participation of China, a developing country with a command economy, in the International Monetary Fund and the World Bank (it had been a member since 1980 ) and the likely consequences for the global economic order of its signing the General Agreement on Tariffs and Trade. At the end of the 20th century , China’s economy underwent a major transformation, including the growth of its private sector, reliance on exports, and full engagement with international trade and finance. These changes spurred assessment of the IPE implications of China as a rising power. This research is consistent with mainstream IPE schools of thought, framing China’s opening and market reforms in terms of realist/economic nationalist expectations of conflict between China and the liberal capitalist countries (Layne, 2018 ) or liberal expectations that China will end up conforming to Western liberal capitalist norms (Deudney & Ikenberry, 2018 ; Ikenberry, 2009 ).

The new trend in the research moves away from this “binary orthodoxy” (De Graaff, ten Brink, & Parmar, 2020 ). Instead, this trend provides empirical and theoretical analysis of how China reshapes but does not necessarily remake global capitalism—not overturning global capitalism and the neoliberal order but rather exerting influence on and shaping its contours (Hung, 2009 , 2015 ). This stream of research avoids theorizing China as a unitary actor and instead looks closely at the global consequences of how the Chinese economy is organized domestically and in the global context. Hung ( 2008 ) assesses the overaccumulation of capital in China resulting from the state’s decentralization of regulatory authority, local actors’ overinvestment in productive capacity, and widespread underconsumption. China has been able to maintain strong growth and an export-driven trade policy in this unstable circumstance only because of overconsumption and debt in the United States. Other scholars have explored how China’s trade policy is both influenced by and promoted by transnational networks that Chinese elites have entered (de Graaff, 2020 ; Huo & Parmar, 2020 ). Disruption of neoliberal globalization is another important theme. For example, Hopewell ( 2016 ) argues that Chinese inconsistency—sometimes supporting and sometimes contesting neoliberal rules—is the root of its disruptiveness. Ironically, by supporting liberal rules, China shines a light on the “hypocrisy” of illiberal trade policies of the United States and other Western countries. Weinhardt and ten Brink ( 2020 ) suggest that explanation for this inconsistency can be found in domestic differences in the structure and degree of government intervention in sectors. McNally ( 2020 ) identifies the source of instability in the contradictions of Sino-capitalism, described as both neoliberal and neostatist and as organized top-down by the state and bottom-up through networks of entrepreneurs.

The second trend, queer global political economy, can be seen within the broader category of queer international relations (IR) theory (Weber, 2015 ), while overlapping substantially with feminist and other critical approaches. Queer IR theory uncovers and problematizes the political consequences of assumptions, grounded in naturalized cultural practices, of binary constructions of identity—of assuming the world is divided into male and female or similarly into normal and abnormal, heterosexual and homosexual, or other taken-for-granted dichotomies. Applied to the substantive domain of global political economy, this approach focuses attention on “heteromasculine and cissexist assumptions and biases” and “the differential—and productive—impact of processes and policies associated with neoliberal globalization sexualized and gendered subjects, practices, and kinship relations” (see article “Queer International Relations”). Peterson ( 2014 ), for example, explores “global householding,” a term that encompasses the many transborder processes of social reproduction necessary to sustain families and the wider society, especially in the Global North. These processes include “marriage/partnership, earning income, managing daily life, securing childcare, eldercare, healthcare, and education, acquiring domestic ‘help,’ relocating for retirement” (p. 606). Smith ( 2016 ) investigates how neoliberal policy responses to global financial crises disadvantage those whose lives differ from that of the presumed “normal” family, a husband and a wife and their children. “Imaginaries” of the family, she argues, reproduce the neoliberal economic order.

The growing “precarity” of the global workforce, the subject of the third new direction of research discussed here, has emerged as a grave side effect of the processes of globalization, a reality acknowledged by all the different schools of IPE. Guy Standing ( 2016 ) has introduced and popularized the concept of the “precariat,” which he regards as a new stratum of the working class marked by an extreme lack of job security and basic benefits like healthcare and paid time off. This class, according to Standing, represents a growing contingent of the global workforce, a verdict corroborated by many empirical studies, especially from a comparative political economy perspective (Agarwala, 2013 ; Kalleburg, 2018 ; Mosoetsa, Stillerman, & Till, 2016 ). This framing of the issue of precarious labor, however, is not without its critics. With a properly global analytic lens, some argue, precarity does not appear to be a new phenomenon at all but a condition that has characterized the Global South since its inception and which now threatens the North as well (Scully, 2016 ). Moreover, as Ritu Vij ( 2019 , p. 504) has argued, the idea of precarity as it is popularly conceived rests on “the pathologization of vulnerability,” an ideological process which normalizes a liberal individualist political economy and understands nonliberal forms of life as “abject.”

It is also worth mentioning a trend that seems to have petered out. At the time the original 2010 version of this article was drafted, communitarianism seemed to be a promising, emerging stream of normative research that would address problems of global capitalism. Largely associated with the work of Amitai Etzioni ( 1991 , 2004 ), communitarianism can be seen as a countertheory to the idea that liberal markets are natural and that men and women are naturally economically rational, self-interested agents. Etzioni’s communitarianism does not eschew liberal economics wholly, nor does he advocate a loss of individual freedoms; instead, he looks for a via media in which the interests of individuals are balanced by the interest of the communities of which they are a part. The local, national, and global political economies are in essence communities. The connection to community seems to draw on the feminist idea of an ethic of care (Tronto, 1987 ). William Galston ( 2002 ), in a similar vein, argues for a rejection of both socialist and laissez-faire economics in favor of an approach that he calls “mutualism”; the policy implementation would be a “progressive market strategy,” in which policies would promote “moderate self-interest, regard for others, and internalized norms” of responsibility. Communitarian global political economy, however, failed to gain traction, perhaps because other, more normatively progressive critical approaches came to the fore.

GPE Research Relevant to COVID-19

As this article was being prepared for publication ( May 2020 ), it became difficult to ignore the severe implications of the COVID-19 pandemic for the global political economy. The robust literature dealing with the global history of pandemics and the dangers that a new pandemic would pose in a world marked by increasingly intensifying processes of economic globalization are highlighted here.

A review of GPE’s engagements with the history of global pandemics reveals a wide variety of analytical lenses, including descriptive accounts of the impact of environment on society and more politically focused accounts of the differential impacts suffered by different peoples. The account by McNeil ( 1998 ) of the history of plagues is notable for its emphasis on intersocietal transmission, highlighting how the world’s peoples have been interconnected long before the emergence of 20th-century globalization. The work of Pirages ( 1995 , 1997 , 2007 ) deserves special mention for its wide historical and geographical scope and its sensitivity to the intersections between international politics, infectious disease transmission, and the coordinated social responses (or lack thereof) that have been implemented historically to combat the worst consequences of infectious disease. Work by Paul Farmer ( 2004 ) seeks to highlight how the social toll of pandemics largely depends on preexisting power relations and inequalities in society, which he theorizes in terms of “structural violence.” Another key scholar of pandemics is Mike Davis ( 2005 ), whose study on the Avian Flu offered a prescient warning of the political–economic threat of a new global pandemic. Davis ( 2020 ) has published an analysis of COVID-19 in a periodical issue focused on the pandemic (NLR Editors, 2020 ).

A special issue of Review of International Political Economy on Political Economies of Global Health, edited by Susan K. Sell and Owain D. Williams ( 2020b ), appeared online just a few months before the first reported cases of COVID-19. The issue focuses on global capitalism’s effects on the health of the world’s people across multiple scales and through multiple processes. Neoliberalism and policies insisting on free markets, Sell and Williams ( 2020a ) argue, have negative effects on global health through “regimes and institutions in areas such as trade and investment policy, austerity programs, pharmaceutical and food governance, and the rules that support globalized production and consumption” (p. 1). Though this observation focuses on health more generally, the global, national, and local responses to pandemics are certainly a part of the larger global health system. Three of the articles are especially relevant to the GPE aspects of pandemics and other instances of the spread of infectious disease. Rebecca J. Hester and Owain D. Williams ( 2020 ) ground their exploration of the political economy of the “somatic-security industrial complex,” upon influenza and its movement around the world. Stefan Elbe and Christopher Long ( 2020 ) explore global assemblages of medical molecules that become valuable for biodefense against disease outbreaks, bioterrorist attacks, and the like. João Nunes ( 2020 ) examines Brazil’s domestic political economy within the neoliberal order, the precarity of health workers’ jobs, and the consequences for Brazil during the Zika virus outbreak.

Much of the salient research on the global politics of infectious diseases prior to COVID-19 has occurred in fields of global health governance (Huang, 2014 ; Youde, 2018 ) and security studies (Davies, 2008 ; Price-Smith, 2009 ), and these studies will likely prove essential for future pandemic-related knowledge production in GPE. New materialist approaches that privilege the impact of nonhuman life processes will likely contribute in important ways to pandemic research (White, 2015 ).

Though COVID-19 was only recognized as a global pandemic in March 2020 , the sheer scope of the crisis resulted in immediate scholarly attention. Notable analyses of the pandemic and its reverberations in the global economy include the world-systems approach of Silver and Payne ( 2020 ) and a short but generative series of contributions to the journal of Foreign Policy (Walt et al., 2020 ). Certainly, many scholars of GPE will be turning to these contributions and constructing their own in responses to the global crisis of COVID-19.

Links to Digital Materials

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Hung, H. (2015). The China boom: Why China will not rule the world . New York, NY: Columbia University Press.
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PEG PhD Dissertations and Job Placements

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Degree Requirements
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Faculty & Research

Learn about the dissertations of our PhD in Political Economy and Government graduates and their job placements directly following graduation.

2023-present

Kevin deluca (government track).

Dissertation Title: Newspaper Endorsements, Candidate Quality, and Election Outcomes in the United States Advisor: James M. Snyder Job Placement: Assistant Professor, Department of Political Science, Yale University

josé Ramón Enríquez (government track)

Dissertation Title: Essays on the Political Economy of Development Advisor: Jeffry Frieden , Rema Hanna Job Placement: Post-Doctoral Fellow, Digital Economy Lab & Golub Capital Social Impact Lab, Stanford Graduate School of Business

casey Kearney (government track)

Dissertation Title: Essays in International Finance and the Political Economy of Capital Flows Advisor: Jeffry Frieden Job Placement: Assistant Professor, London School of Economics and Political Science

casey Petroff (government track)

Dissertation Title: Essays in Political Economy Advisor: Jeffry Frieden Job Placement: Assistant Professor, Department of Political Science, University of Rochester

Awa Ambra seck (economics track)

Dissertation Title: Essays in Economic Development and Political Economy Advisor: Nathan Nunn , Emily Breza Job Placement:

Assistant Professor, BGIE Unit, Harvard Business School
Post-Doctoral Fellow, Harvard Academy

Sarah Armitage

Dissertation Title: Essays in Environmental Economics Advisor: Joseph Aldy Job Placement: Assistant Professor, Department of Economics, Boston University

Kevin Connolly (economics track)

Dissertation Title: The Economic, Social and Health Effects of America's Two-Year Public College Advisor: Edward Glaeser Job Placement: to be confirmed

alley Edlebi (economics track)

Dissertation Title: Essays in Applied Economics Advisor: Crystal Yang Job Placement: to be confirmed

Michael-David Mangini

Dissertation Title: How Commerce Becomes Compromised: Economic Coercion and Credibility in the Age of the Global Economy Advisor: Jeffry Frieden Job Placement: Post-Doctoral Fellow, Niehaus Center for Globalization and Governance

Hillary Stein

Dissertation Title: Essays on International Finance and Political Economy Advisor: Kenneth Rogoff Job Placement: Economist, Federal Reserve Bank of Boston

Augustin Bergeron

Dissertation Title: Essays in Development and Public Economics Advisor: Nathan Nunn Job Placement:

Assistant Professor, Department of Economics, University of Southern California
Post-Doctoral Fellow, Stanford King Center on Global Development

Enrico Di Gregorio

Dissertation Title: Essays in Public Finance and Political Economy Advisor: Stefanie Stantcheva Job Placement: Economist, International Monetary Fund

Felipe Jordán

Dissertation Title: Essays on the Influence of Western Institutions on Indigenous Societies Advisor: Rema Hanna Job Placement: Assistant Professor, Pontificia Universidad Católica de Chile

Brian Wheaton

Dissertation Title: Essays on Political Economy and Macroeconomics Advisor: Robert J. Barro Job Placement:

Assistant Professor, Anderson School of Management, University of California Los Angeles
Hoover Fellow 2021-2022, Hoover Institution

Andrea Passalacqua (economics track)

Dissertation Title: Essays in Banking and Corporate Finance Advisor: Jeremy Stein Job Placement: Economist, Federal Reserve Board

Juan Sebastián Galán (government track)

Dissertation Title: Essays on the Political Economy of Latin American Development Advisors: Melissa Dell , Nathan Nunn Job Placement: Assistant Professor of Economics, Universidad de los Andes, Colombia

Siddharth George (economics track)

Dissertation Title: Essays in Development Economics Advisor: Rohini Pande Job Placement: Assistant Professor of Economics, Dartmouth College

Soeren J. Henn (government track)

Dissertation Title: Essays on State Building and Economic Development Advisors: Torben Iversen , Nathan Nunn Job Placement: Post-Doctoral Fellowship, Innovations for Poverty Action, University of Chicago

Pamela Ban (government track)

Dissertation Title: The Changing Influence of Committees in Congress Advisor: James M. Snyder, Jr. Job Placement: Assistant Professor, Department of Political Science, University of California San Diego

Laura Blattner (economics track)

Dissertation Title: Essays on Finance and Economic Policy Advisors: Gita Gopinath , Jeremy Stein Job Placement: Assistant Professor of Finance, Finance Group, Stanford Graduate School of Business

John Coglianese (economics track)

Dissertation Title: Essays on the Macroeconomics of Labor Markets Advisor: Lawrence Katz Job Placement: Economist, Research Division, Labor Markets Group, Federal Reserve Board

Andrew Garin (economics track)

Dissertation Title: Essays on the Economics of Labor Demand and Policy Incidence Advisors: Nathaniel Hendren , Lawrence Katz Job Placement: Assistant Professor, University of Illinois at Urbana-Champaign

Edoardo Teso (economics track)

Dissertation Title: Essays in Political Economy Advisor: Alberto Alesina Job Placement: Assistant Professor, Department of Managerial Economics and Decision Sciences, Northwestern University, Kellogg School of Management

Jonathan Weigel (Government track)

Dissertation Title: Taxation, Corruption, and Engagement With the Formal State: Experimental Evidence From the D.R. Congo Advisor: James Robinson Job Placement: Assistant Professor of International Development, International Development Department, London School of Economics and Political Science

Marek Hlavac (Government track)

Dissertation Title: Essays in Political Economy Advisor: Torben Iversen Job Placement: Economics Teacher, United World Colleges (UWC) Adriatic

Danial Lashkari (Economics track)

Dissertation Title: Essays on Innovation and Growth Advisors: Pol Antràs , Marc Melitz Job Placement: Assistant Professor, Department of Economics, Boston College

Sara Lowes (economics track)

Dissertation Title: Understanding the Process of Economic Development: Essays on Culture and Institutions Advisor: Nathan Nunn Job Placement: Assistant Professor, Bocconi University

MaliHeh Paryavi (economics track)

Dissertation Title: Essays on Gender and Decision Marking in Political Economy Advisor: Iris Bohnet Job Placement: Consultant, Trade and Competitiveness Global Practice, The World Bank

Guilherme Lichand

Dissertation Title: Essays in Development Economics Advisor: Nathan Nunn Track: Economics

Job Placement: Assistant Professor Department of Economics University of Zurich

Mauricio Fernández Duque

Dissertation Title: Essays on Social Influence in Political Economy: How Expectations and Identity Affect Pro-Social Leading and Following Advisor: Michael Hiscox Track: Government

Job Placement: Post-Doctoral Research Fellow Harvard University

Angela Fonseca Galvis

Dissertation Title: Essays on Political Economy Advisor: James Robinson Track: Government

Job Placement: Assistant Professor Pontificia Universidad Javeriana

Sabrina Howell

Dissertation Title: Essays in Energy Economics and Entrepreneurial Finance Advisors: Josh Lerner , David S. Scharfstein Track: Economics

Job Placement: Assistant Professor Department of Finance New York University Stern School of Business

Dissertation Title: The Clash of Brothers: Wars to Avoid Diffusion in a Contagious World Advisors: James Robinson , Andrei Shleifer Track: Government

Job Placement: Economist Core Data Science Division Facebook

James Mahon

Dissertation Title: Essays in U.S. Fiscal Policy Advisors: Raj Chetty , Edward Glaeser Track: Economics

Job Placement: Manager Transfer Pricing Division Deloitte Tax

Jesse Schreger

Dissertation Title: Essays in International Finance and Macroeconomics Advisors: Gita Gopinath , Kenneth Rogoff Track: Economics

Job Placement: Assistant Professor Harvard Business School (Post-Doc at Princeton University, Department of Economics)

Dissertation Title: Essays in Economic Geography Advisors: Edward Glaeser , Marc Melitz Track: Economics

Job Placement: Assistant Professor Department of Economics Michigan State University (Post-Doc at Dartmouth College)

Jessica Blankshain

Dissertation Title: Essays on Interservice Rivalry and American Civil-Military Relations Advisor: Daniel Carpenter Track: Government

Job Placement: Assistant Professor United States Naval College

Joana Naritomi

Dissertation Title: Essays in Public Finance and Development Economics Advisor: Raj Chetty , Michael Kremer Track: Economics

Job Placement: Assistant Professor of Economics London School of Economics and Political Science

Arash Nekoei

Dissertation Title: Essays on Unemployment and Labor Supply Advisor: Raj Chetty , Lawrence Katz Track: Economics

Job Placement: Assistant Professor of Economics Institute for Economic Studies

Hye Young You

Dissertation Title: Three Essays on Lobbying Advisor: James M. Snyder, Jr. Track: Government

Job Placement: Assistant Professor Department of Political Science Vanderbilt University

Paul Novosad

Dissertation Title: Essays on Local Economic Growth in India Advisor: Asim Khwaja Track: Economics

Job Placement: Assistant Professor of Economics Dartmouth College

Eliana Carranza

Dissertation Title: Economics Sources of Son Preference, Sex-Differential Treatment and Household Fertility Behavior Advisor: Lawrence Katz Track: Economics

Job Placement: Economist The World Bank

Dissertation Title: Politics and Policy: Essays in Economics Advisor: Andrei Shleifer Track: Economics

Job Placement: Associate McKinsey & Company

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Home » Blog » Dissertation » Topics » Economics » 80 Political Economics Research Topics

80 Political Economics Research Topics

FacebookXEmailWhatsAppRedditPinterestLinkedInResearch topics are the heart and soul of any academic journey, and when it comes to delving into the intricate world of Political Economics, the quest for the perfect research topic is no less critical. Whether you’re an undergraduate student seeking to lay the foundation for your academic career, a master’s candidate ready to explore […]

Research topics are the heart and soul of any academic journey, and when it comes to delving into the intricate world of Political Economics, the quest for the perfect research topic is no less critical. Whether you’re an undergraduate student seeking to lay the foundation for your academic career, a master’s candidate ready to explore the depths of this fascinating field, or a doctoral aspirant looking to leave your mark, the realm of Political Economics offers a myriad of possibilities for your thesis or dissertation. In this guide, we will navigate this complex terrain together, unveiling a range of thought-provoking and timely research topics that will inspire and ignite your scholarly pursuits. So, let’s embark on this intellectual journey as we uncover the rich tapestry of Political Economics research topics that await your exploration.

Political Economy, also called the “economics of politics,” “economic politics,” and “politics of economics,” is a multifaceted field of study that investigates the interplay between politics and economics, seeking to understand how government policies, institutions, and politics processes impact economic systems and, in turn, shape the well-being of societies.

A List Of Potential Research Topics In Political Economics:

Examining the influence of digital technology and e-commerce on international trade patterns.
Investigating the role of international organizations in shaping global economic policies in the aftermath of the pandemic.
Investigating the sustainability of supply chains and global trade patterns in a post-pandemic world.
Evaluating the effectiveness of anti-corruption measures in promoting economic growth.
Exploring the relationship between economic sanctions and diplomatic negotiations.
Investigating the role of multinational corporations in shaping global tax policies.
Assessing the economic implications of the UK’s energy transition and renewable energy investments.
Evaluating the effectiveness of economic diversification strategies in resource-dependent economies.
Evaluating the effectiveness of sovereign wealth funds in managing natural resource revenues.
Assessing the role of political polarization in shaping economic policy decisions in the UK.
Analyzing the economic consequences of healthcare disparities in minority communities.
Assessing the effectiveness of income redistribution policies in mitigating economic disparities exacerbated by COVID-19.
Investigating the impact of globalization on labor rights and working conditions.
Exploring the relationship between political Economy and developmental psychology in shaping economic policies.
Examining the challenges and opportunities of digital innovation in the UK’s political Economy.
Investigating the impact of monetary policy on inflation and economic stability.
Evaluating the effectiveness of financial regulations in preventing systemic financial crises.
Examining the influence of government regulations on the gig economy and labor market dynamics.
Reviewing the challenges and opportunities of international cooperation in addressing economic and financial crises.
Examining the influence of income inequality on social cohesion and trust in institutions.
Examining the influence of political stability on foreign direct investment flows.
Exploring the relationship between economic growth and environmental sustainability.
Investigating the impact of income tax policy on income mobility and wealth accumulation.
Assessing the role of economic factors in shaping public opinion on immigration.
Analyzing the role of international institutions in governing global economic affairs.
Evaluating the relationship between economic development and democratization in emerging economies.
Examining the relationship between income inequality and political polarization.
Exploring the relationship between pandemic-induced uncertainty and investment behavior in financial markets.
Examining the role of political institutions in shaping income distribution policies.
Exploring the relationship between political instability and foreign direct investment.
Investigating the economic consequences of global health crises and pandemic preparedness.
Analyzing the economic consequences of government subsidies in agriculture.
Investigating the effects of austerity measures on income inequality and social welfare in the UK.
Assessing the role of economic sanctions in coercive diplomacy strategies.
Exploring the relationship between economic nationalism and international trade.
Analyzing the economic consequences of trade imbalances and currency manipulation.
Assessing the effectiveness of economic sanctions as a foreign policy tool in the modern world.
Investigating the impact of demographic changes on pension and retirement systems.
Examining the influence of political ideology on fiscal policy choices.
Assessing the economic consequences of currency devaluation in developing nations.
Investigating the impact of political instability on foreign direct investment.
Analyzing the role of digital currencies and blockchain technology in reshaping monetary policy and financial systems.
Exploring the role of the financial services sector in the UK’s post-Brexit economic landscape.
Evaluating the effectiveness of social safety net programs in reducing poverty rates.
Analyzing the economic implications of trade disputes and tariff wars.
Investigating the impact of fiscal policy on income distribution in advanced industrialized countries.
Evaluating the effectiveness of austerity measures in addressing fiscal crises.
Evaluating the effectiveness of job training programs in addressing unemployment.
Investigating the impact of political institutions on fiscal discipline and budget deficits.
Examining the role of international financial institutions in sovereign debt crises.
Investigating the effects of trade wars and protectionism on global supply chains and economic growth.
Assessing the economic consequences of income tax evasion and offshore tax havens.
Evaluating the economic consequences of remote work adoption and its implications for labor markets.
Analyzing the impact of trade tariffs on global supply chains and economic growth.
Assessing the impact of globalization on income inequality and political stability worldwide.
Assessing the influence of political campaign financing on policy outcomes.
Exploring the economic consequences of global migration and refugee crises.
Analyzing the impact of political Economy on criminal law enforcement strategies.
Reviewing the evolution of political economy theories and paradigms over the past decade.
Exploring the economic consequences of income tax reform in developed economies.
Examining the influence of political ideology on government responses to economic challenges posed by COVID-19.
Examining the role of informal economies in developing countries’ economic growth.
Analyzing the economic implications of automation and artificial intelligence on job displacement.
Exploring the relationship between economic development and access to healthcare.
Assessing the role of social media in shaping political and economic discourse.
Assessing the role of corruption in hindering economic development in sub-Saharan Africa.
Evaluating the effectiveness of UK government policies in addressing regional economic disparities.
Exploring the relationship between income redistribution and economic growth.
Evaluating the effectiveness of public-private partnerships in infrastructure development.
Examining the role of economic inequality in political participation and voter turnout.
Analyzing the impact of Brexit on the UK’s economic relationships with the European Union and the rest of the world.
Analyzing the political Economy of climate change and the transition to a sustainable energy system.
Analyzing the role of gender inequality in economic development outcomes.
Assessing the influence of international trade on income convergence among nations.
Investigating the relationship between environmental sustainability and economic policies in the UK.
Assessing the impact of international trade agreements on domestic labor markets.
Examining the economic consequences of trade agreements negotiated by the UK as an independent entity.
Investigating the economic implications of natural resource extraction in developing countries.
Analyzing the impact of government stimulus packages on economic recovery and inequality post-COVID-19.
Assessing the impact of COVID-19 on fiscal policy strategies and debt sustainability in developing economies.

Finding the right research topic in academia is akin to selecting a compass for your academic journey. This guide has provided you with diverse Political Economy research topics of different degree levels, from undergraduate to doctoral. Whether you explore the intricacies of international trade, the impact of economics policies on voter behavior, or the complexities of economic development in emerging markets, your chosen path within Political Economy will offer you the opportunity to contribute to a deeper understanding of our world.

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The dv410 dissertation is a major component of the msc programme and an important part of the learning and development process involved in postgraduate education., research design and dissertation in international development.

The DV410 dissertation is a major component of the MSc programme and an important part of the learning and development process involved in postgraduate education. The objective of DV410 is to provide students with an overview of the resources available to them to research and write a 10,000 dissertation that is topical, original, scholarly, and substantial. DV410 will provide curated dissertation pathways through LSE LIFE and Methods courses, information sessions, ID-specific disciplinary teaching, topical seminars and dissertation worksops in ST. With this in mind, students will be able to design their own training pathway and set their own learning objectives in relation to their specific needs for their dissertation. From the Autumn Term (AT) through to Summer Term (ST), students will discuss and develop their ideas in consultation with their mentor or other members of the ID department staff and have access to a range of learning resources (via DV410 Moodle page) to support and develop their individual projects from within the department and across the LSE.

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The archive of prizewinning dissertations showcases the best MSc dissertations from previous years. These offer a useful guide to current students on how to prepare and write a high calibre dissertation.

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2015-IE (PDF) Breaking Out Of the Middle-Income Trap: Assessing the Role of Structural Transformation. Ipek Ergin Winner of the Prize for Best Dissertation Development Studies

2015-AML (PDF) Labour Migration, Social Movements and Regional Integration: A Comparative Study of the Role of Labour Movements in the Social Transformation of the Economic Community of West African States and the Southern African Development Community. Anne Marie Engtoft Larsen Winner of the Prize for Excellent Dissertation Development Management

2015-MM (PDF) Who Bears the Burden of Bribery? Evidence from Public Service Delivery in Kenya Michael Mbate Winner of the Prize for Best Dissertation and Best Overall Performance Development Management

2015-KK (PDF) Export Processing Zones as Productive Policy: Enclave Promotion or Developmental Asset? The Case of Ghana. Kilian Koffi Winner of the Prize for Best Dissertation African Development

2015-GM (PDF) Forgive and Forget? Reconciliation and Memory in Post-Biafra Nigeria. Gemma Mehmed Winner of the Prize for Best Dissertation International Development and Humanitarian Emergencies (IDHE)

2015-AS (PDF) From Sinners to Saviours: How Non-State Armed Groups use service delivery to achieve domestic legitimacy. Anthony Sequeira Winner of the Prize for Excellent Dissertation and Best Overall Performance International Development and Humanitarian Emergencies (IDHE)

2014-NS (PDF) Anti-Corruption Agencies: Why Do Some Succeed and Most Fail? A Quantitative Political Settlement Analysis. Nicolai Schulz Winner of the Prize for Excellent Dissertation Development Studies

2014-MP (PDF) International Capital Flows and Sudden Stops: a global or a domestic issue? Momchil Petkov Winner of the Prize for Excellent Dissertation Development Studies

2014-TC (PDF) Democracy to Decline: do democratic changes jeopardize economic growth? Thomas Coleman Winner of the Prize for Excellent Dissertation Development Management

2014-AK (PDF) Intercultural Bilingual Education: the role of participation in improving the quality of education among indigenous communities in Chiapas, Mexico. Anni Kasari Excellent Dissertation and Best Overall Performance Development Management

2014-EL (PDF) Treaty Shopping in International Investment Arbitration: how often has it occurred and how has it been perceived by tribunals? Eunjung Lee Joint Winner of the Prize for Best Dissertation Development Management

2013-SB (PDF) Refining Oil - A Way Out of the Resource Curse? Simon Baur Winner of the Prize for Excellent Dissertation Development Management

2013-NI (PDF) The Rise of ‘Murky Protectionism’: Changing Patterns of Trade-Related Industrial Policies in Developing Countries: A case study of Indonesia. Nicholas Intscher Joint Winner of the Prize for Best Dissertation and Best Overall Performance Development Studies

2013-JF (PDF) Why Settle for Less? An Analysis of Settlement in WTO Disputes. Jillian Feirson Joint Winner of the Prize for Best Dissertation Development Studies

2013-LH (PDF) Corporate Social Responsibility in Mining: The effects of external pressures and corporate leadership. Leah Henderson Joint Winner of the Prize for Best Dissertation Development Studies

2013-BM (PDF) Estimating incumbency advantages in African politics: Regression discontinuity evidence from Zambian parliamentary and local government elections. Bobbie Macdonald Excellent Dissertation and Best Overall Performance Development Studies

WP145 (PDF) Is History Repeating Itself? A Critical Discourse Analysis of the Representation of Women in Climate Change Campaigns. Catherine Flanagan Joint Winner of the Prize for Excellent Dissertation Development Studies

WP144 (PDF) Disentangling the fall of a 'Dominant-Hegemonic Party Rule'. The case of Paraguay and its transition to a competitive electoral democracy. Dominica Zavala Zubizarreta Joint Winner of the Prize for Excellent Dissertation Development Management

WP143 (PDF) Enabling Productive Entrepreneurship in Developing Countries: Critical issues in policy design. Noor Iqbal Joint Winner of the Prize for Excellent Dissertation Development Studies

WP142 (PDF) Beyond 'fear of death': Strategies of coping with violence and insecurity - A case study of villages in Afghanistan. Angela Jorns Joint Winner of the Prize for Best Dissertation Development Studies

WP141 (PDF) What accounts for opposition party strength? Exploring party-society linkages in Zambia and Ghana. Anna Katharina Wolkenhauer Joint Winner, Best Overall Performance Development Studies

WP140 (PDF) Between Fear and Compassion: How Refugee Concerns Shape Responses to Humanitarian Emergencies - The case of Germany and Kosovo. Sebastian Sahla Joint Winner, Best Overall Performance Development Management

WP139 (PDF) Worlds Apart? Health-seeking behaviour and strategic healthcare planning in Sierra Leone. Thea Tomison Joint Winner of the Prize for Excellent Dissertation Development Studies

WP138 (PDF) War by Other Means? An Analysis of the Contested Terrain of Transitional Justice Under the 'Victor's Peace' in Sri Lanka. Richard Gowing Best Overall Performance and Best Dissertation International Development and Humanitarian Emergencies (IDHE)

WP137 (PDF) Social Welfare Policy - a Panacea for Peace? A Political Economy Analysis of the Role of Social Welfare Policy in Nepal's Conflict and Peace-building Process. Annie Julia Raavad Joint Winner, Best Overall Performance and Excellent Dissertation Development Studies

WP136 (PDF) Women and the Soft Sell: The Importance of Gender in Health Product Purchasing Decisions. Adam Alagiah Joint Winner, Best Overall Performance Development Management

WP135 (PDF) Human vs. State Security: How can Security Sector Reforms contribute to State-Building? The case of the Afghan Police Reform. Florian Weigand Joint Winner of the Prize for Excellent Dissertation Development Management

WP134 (PDF) Evaluating the Impact of Decentralisation on Educational Outcomes: The Peruvian Case. Siegrid Holler-Neyra Winner of the Prize for Best Dissertation Development Management

WP133 (PDF) Democracy and Public Good Provision: A Study of Spending Patterns in Health and Rural Development in Selected Indian States. Sreelakshmi Ramachandran Joint Winner of the Prize for Excellent Dissertation Development Management

WP132 (PDF) Intellectual Property Rights and Technology Transfer to Developing Countries: a Reassessment of the Current Debate Marco Valenza Joint Winner of the Prize for Excellent Dissertation Development Studies

WP131 (PDF) Traditional or Transformational Development? A critical assessment of the potential contribution of resilience to water services in post-conflict Sub-Saharan Africa. Christopher Martin Winner of the Prize for Excellent Dissertation International Development and Humanitarian Emergencies (IDHE)

WP128 (PDF) The demographic dividend in India: Gift or curse? A State level analysis on differeing age structure and its implications for India's economic growth prospects. Vasundhra Thakurd Joint Winner of the Prize for Excellent Dissertation Development Management

WP127 (PDF) When Passion Dries Out, Reason Takes Control: A Temporal Study of Rebels' Motivation in Fighting Civil Wars. Thomas Tranekaer Joint Winner of the Prize for Excellent Dissertation Development Management

WP126 (PDF) Micro-credit - More Lifebuoy than Ladder? Understanding the role of micro-credit in coping with risk in the context of the Andhra Pradesh crisis. Anita Kumar Best Overall Performance and Best Dissertation Development Management

WP124 (PDF) Welfare Policies in Latin America: the transformation of workers into poor people. Anna Popova Winner of the Prize for Excellent Dissertation Development Studies

WP123 (PDF) How Wide a Net? Targeting Volume and Composition in Capital Inflow Controls. Lucas Issacharoff Best Overall Performance and Excellent Dissertation Development Studies

WP117 (PDF) Shadow Education: Quantitative and Qualitative analysis of the impact of the educational reform (implementation of centralized standardised testing). Nataliya Borodchuk Best Overall Performance and Excellent Dissertation Development Management

WP115 (PDF) Can School Decentralization Improve Learning? Autonomy, participation and student achievement in rural Pakistan. Anila Channa Joint Winner of the Prize for Excellent Dissertation Development Management

WP114 (PDF) Good Estimation or Good Luck? Growth Accelerations revisited. Guo Xu Best Overall Performance and Best Dissertation Development Studies

WP113 (PDF) Furthering Financial Literacy: Experimental evidence from a financial literacy program for Microfinance Clients in Bhopal, India. Anna Custers Winner of the Prize for Excellent Dissertation Development Studies

WP112 (PDF) Consumption, Development and the Private Sector: A critical analysis of base of the pyramid (BoP) ventures. David Jackman Winner of the Prize for Best Disseration Development Management

WP106 (PDF) Reading Tea Leaves: The Impacy of Mainstreaming Fair Trade. Lindsey Bornhofft Moore Joint Winner of the Prize for Excellent Dissertation Development Studies

WP104 (PDF) Institutions Collide: A Study of "Caste-Based" Collective Criminality and Female Infanticide in India, 1789-1871. Maria Brun Joint Winner of the Prize for Excellent Dissertation Development Studies

WP102 (PDF) Democratic Pragmatism or Green Radicalism? A critical review of the relationship between Free, Prior and Informed Consent and Policymaking for Mining. Abbi Buxton Joint Winner of the Prize for Excellent Dissertation Development Management

WP100 (PDF) Market-Led Agrarian Reform: A Beneficiary perspective of Cédula da Terra. Veronika Penciakova Joint Winner of the Prize for Best Overall Performance Development Studies

WP98 (PDF) No Business like Slum Business? The Political Economy of the Continued Existence of Slums: A case study of Nairobi. Florence Dafe Joint Winner of the Prize for Best Dissertation Development Studies

WP97 (PDF) Power and Choice in International Trade: How power imbalances constrain the South's choices on free trade agreements, with a case study of Uruguay. Lily Ryan-Collins Joint Winner of the Prize for Best Overall Dissertation Development Management

WP96 (PDF) Health Worker Motivation and the Role of Performance Based Finance Systems Africa: A Qualitative Study on Health Worker Motivation and the Rwandan Performance Based finance initiative in District Hospitals. Friederike Paul Joint Winner of the Prize for Best Overall Dissertation Development Management

WP95 (PDF) Crisis in the Countryside: Farmer Suicides and the Political Economy of Agrarian Distress in India. Bala Posani Winner of the Prize for Best Overall Performance Development Management

WP94 (PDF) From Rebels to Politicians. Explaining Rebel-to Party Transformations after Civil War: The case of Nepal. Dominik Klapdor Winner of the Prize for Excellent Dissertation Development Management

WP92 (PDF) Guarding the State or Protecting the Economy? The Economic factors of Pakistan's Military coups. Amina Ibrahim Winner of the Prize for Best Dissertation Development Studies

WP91 (PDF) Man is the remedy of man: Constructions of Masculinity and Health-Related Behaviours among Young men in Dakar, Senegal. Sarah Helen Mathewson Winner of the Prize for Best Overall Performance Development Studies

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Economics Department Dissertations Collection

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Dissertations from 2023 2023

Essays on International Trade and Economic Growth , Mateo Hoyos, Economics

THREE ESSAYS ON MACROECONOMICS AND DEVELOPMENT , Guilherme Klein Martins, Economics

THREE ESSAYS ON ALLOCATION OF COSTS AND BENEFITS, CREDIT, AND TIME , Anamika Sen, Economics

Dissertations from 2022 2022

THREE ESSAYS on GROWTH and DISTRIBUTION in DUAL ECONOMIES , Adam Aboobaker, Economics

WORK, WORKERS, AND REPRODUCING SOCIAL CONTROL: RACIAL POST-FORDISM AND ALTERNATIVE SYSTEMS , Hannah Rebecca Archambault, Economics

Employer Power: Consequences for Wages, Inequality and Spillovers , Ihsaan Bassier, Economics

THREE ESSAYS ON SOCIAL JUSTICE ISSUES: HEALTH, GENDER, AND POLICING , Travis B. Campbell, Economics

CREATION OF ECONOMIC GROWTH AND COMPETITION THROUGH GREEN-INDUSTRIAL POLICIES , Camilo A. Gallego, Economics

Essays on Unpaid Care and Gender Inequality in India , Leila Gautham, Economics

THREE ESSAYS ON TECHNOLOGICAL CHANGE, THE STATE, AND EMPLOYMENT , Baris Guven, Economics

CONSTRAINTS AND ACCOMMODATED PREFERENCE: ESSAYS ON GENDER AND SOCIOECONOMIC INEQUALITY IN PAKISTAN , Sana Khalil, Economics

Essays on Anti-Discrimination Legislation Enforcement and Sex-Based Discrimination in U.S. Labor Markets , Carly McCann, Economics

THREE ESSAYS ON THE POLITICAL ECONOMY OF THE CFA FRANC , Francis Perez, Economics

THREE ESSAYS ON THE POLITICAL ECONOMY OF CULTURAL PRODUCTION AND CREATIVE LABOR , Luke Pretz, Economics

FOUR ESSAYS ON PEACE CONSOLIDATION AND ETHNIC RECONCILIATION IN POSTWAR SRI LANKA , Narayani Sritharan, Economics

The Political Economy of Consumer Credit Expansion and Real Exchange Rate Policy in Dual Economies , Esra Nur Ugurlu, Economics

Dissertations from 2021 2021

Three Essays on Learning and Conflict Applied to Developing Countries , Amal Ahmad, Economics

The Political Economy of the Cost of Foreign Exchange Intervention , Devika Dutt, Economics

CARE WORK IN CHILE’S SEGREGATED CITIES , Manuel Garcia, Economics

ESSAYS ON EXCHANGE RATE SHOCKS AND THE POLITICAL ECONOMY OF LOCAL FISCAL POLICY IN BRAZIL , Raphael Rocha Gouvea, Economics

THREE ESSAYS ON THE POLITICAL ECONOMY OF GLOBAL INACTION ON CLIMATE CHANGE , Tyler A. Hansen, Economics

Three Essays on Socio-Institutional Ecosystems & Labor Structures , Jonathan Donald Jenner, Economics

CONSTRUCTING A MARXIAN INPUT-OUTPUT MODEL CONSIDERING THE TURNOVER OF CAPITAL AND REVISITING THE FALLING-RATE-OF-PROFIT HYPOTHESIS , Junshang Liang, Economics

Three Essays on Structural Change and Labor Market Adjustment in Developing Countries , Karmen Naidoo, Economics

THREE ESSAYS ON EMPLOYMENT IMPACTS OF LABOR MARKET POLICIES , Simon Dominik Sturn, Economics

THREE ESSAYS ON LABOR AND MARRIAGE MARKETS: FARM CRISIS AND RURAL-TO-URBAN MIGRATION IN THE UNITED STATES, 1920-1940 , Jennifer Withrow, Economics

Dissertations from 2020 2020

THREE ESSAYS ON GENDER-SPECIFIC EMPLOYMENT OUTCOMES OF MACROECONOMIC POLICIES , SELIN SECIL AKIN, Economics

A New Economic History of Deindustrialization: Class Conflict and Race in the Motor City , Jackson Allison, Economics

THREE ESSAYS ON MICROECONOMIC ANALYSIS OF POLITICAL ECONOMY: EXPLOITATION, TECHNICAL CHANGE, AND MULTISECTORAL ANALYSIS , Weikai Chen, Economics

Essays on Food Security, Gender and Agriculture , Berna Dogan, Economics

THREE ESSAYS ON THE ECONOMICS OF CORPORATE GOVERNANCE , Kuochih Huang, Economics

THREE ESSAYS ON POLITICAL ECONOMY OF UNEVEN DEVELOPMENT: SPACE, CLASS AND STATE IN PAKISTAN , Danish Khan, Economics

ESSAYS ON WOMEN AND WORK IN INDIA AND ON OTHER-REGARDING PREFERENCES , Sai Madhurika Mamunuru, Economics

THREE ESSAYS ON THE ROLE OF INSTITUTIONS IN INDIAN AGRICULTURE , Kartik Misra, Economics

Neoliberal Capitalism and the Evolution of the U.S. Healthcare System , Samantha Sterba, Economics

THREE ESSAYS ON THE PAST AND FUTURE OF SOCIALISM , Mihnea Tudoreanu, Economics

THREE ESSAYS ON THE ECONOMICS AND POLITICAL ECONOMY OF THE “SCHOOL-TO-PRISON PIPELINE” , Anastasia C. Wilson, Economics

Endogenous Money, Corporate Liquidity Preferences and the Transformation of the U.S. Financial System , Yeo Hyub Yoon, Economics

Dissertations from 2019 2019

The Historical and Legal Creation of a Fissured Workplace: The Case of Franchising , Brian Callaci, Economics

Essays on the Minimum Wage, Immigration, and Privatization , Doruk Cengiz, Economics

Bangladesh's Energy Policy: Economic, Environmental, and Climate Change Impacts , Rohini Kamal, Economics

THREE ESSAYS ON THE POLITICAL ECONOMY OF THE ENVIRONMENT , An Li, Economics

REVISITING THE EAST ASIAN MIRACLE: LABOR REGIMES, PROFITABILITY AND ACCUMULATION , Zhongjin Li, Economics

Dimensions of US Global Financial Power: Essays on Financial Sanctions, Global Imbalances, and Sovereign Default , Mariam Majd, Economics

THE POLITICAL ECONOMY OF ACCUMULATION IN SOUTH AFRICA: Resource Extraction, Financialization, and Capital Flight as Barriers to Investment and Employment Growth , Seeraj Mohamed, Economics

STATE-LOCAL GOVERNMENT SPENDING, MACROECONOMIC FISCAL POLICY, AND THE BUSINESS CYCLE , Amanda Page-Hoongrajok, Economics

Essays on Monetary Policy in Developing Countries: Income Distribution, Housing and Unemployment , Zhandos Ybrayev, Economics

Resource Rents, Public Investment and Economic Development: The Case of Bolivia , Raul Zelada Aprili, Economics

Dissertations from 2018 2018

Three Essays on Governments and Financial Crises in Developing Economies, 1870-1913 , Peter H. Bent, Economics

Constraining Labor's “Double Freedom”: Revisiting the Impact of Wrongful Discharge Laws on Labor Markets, 1979-2014 , Eric Hoyt, Economics

SOCIAL STRUCTURE OF ACCUMULATION IN TURKEY (1963 – 2015) , Osman C. Icoz, Economics

Stumbling Toward the Up Escalator: How Trends in International Trade, Investment, and Finance Have Complicated Latin America’s Quest for Sustainable, Diversified Economic Development , Mary Eliza Rebecca Ray, Economics

Forms of Naturalism in Seminal Neoclassical Texts: An Analysis and Comparison of Léon Walras, John Bates Clark, and William Stanley Jevons , Mark Silverman, Economics

THREE ESSAYS ON CHILD WELFARE IN CÔTE D’IVOIRE , Didier Wayoro, Economics

Dissertations from 2017 2017

Currency Mismatch and Balance Sheet Effects of Exchange Rate in Turkish Non-Financial Corporations , Serkan Demirkilic, Economics

The Impacts of Foreign Labor Migration of Men on Women's Empowerment in Nepal , Pratistha Joshi Rajkarnikar, Economics

Real and Nominal Effects of Exchange Rate Regimes , Emiliano Libman, Economics

Three Essays on International Economics and Finance , Juan Antonio Montecino, Economics

THREE ESSAYS ON “DOING CARE”, GENDER DIFFERENCES IN THE WORK DAY, AND WOMEN’S CARE WORK IN THE HOUSEHOLD , Avanti Mukherjee, Economics

Dissertations from 2016 2016

Colonial and Post-Colonial Origins of Agrarian Development: The Case of Two Punjabs , Shahram Azhar, Economics

Three Essays on the Social Determinants of Early Childhood Health and Development , Andrew Barenberg, Economics

ELITE CAPTURE, FREE RIDING, AND PROJECT DESIGN: A CASE STUDY OF A COMMUNITY-DRIVEN DEVELOPMENT PROJECT IN CEARÁ, BRAZIL , Jessica Carrick-Hagenbarth, Economics

Three Essays on Sustainable Development in China: Social, Economic and Environmental Aspects , Ying Chen, Economics

Three Essays on Women's Land Rights in Rural Peru , Rosa L. Duran, Economics

Three Essays on Economic Stages and Transition , Ricardo R. Fuentes-Ramírez, Economics

Three Essays on U.S. Household Debt and the Sources of Systemic Financial Fragility , Thomas Herndon, Economics

Essays on Household Health Expenditures, National Health Insurance and Universal Access to Health Care in Ghana , EVELYN KWAKYE, Economics

Microfinance, Household Indebtedness and Gender Inequality , Theresa Mannah-Blankson, Economics

Three Essays on Labor Market Friction and the Business Cycle , Jong-seok Oh, Economics

Three Essays on Sustainability , Mark V. Paul, Economics

The Political Economy of Smallholder Incorporation and Land Acquisition , Alfredo R. Rosete, Economics

Employment and Family Leave Mandates: Three Essays on Labor Supply and Demand, Nontraditional Families, and Family Policy , Samantha Schenck, Economics

Endogenous Capacity, Multiple Equilibria and Thirlwall's Law: Theory and an Empirical Application to Mexico: 1950 - 2012. , Juan Alberto Vázquez Muñoz, Economics

Three Essays on the Macroeconomic Impacts of Rent Seeking , Kurt von Seekamm, Economics

Dissertations from 2015 2015

Essays on Growth Complementarity Between Agriculture and Industry in Developing Countries , Joao Paulo de Souza, Economics

Structural Transformation, Culture, and Women’s Labor Force Participation in Turkey , yasemin dildar, Economics

Essays on Information, Income, and the Sharing Economy , Anders F. Fremstad, Economics

Essays on Inequality, Credit Constraints, and Growth in Contemporary Mexico , Leopoldo Gómez-Ramírez, Economics

Three Essays on Macroeconomic Implications of Contemporary Financial Intermediation , Hyun Woong Park, Economics

The Labor Share Question in China , Hao Qi, Economics

Three essays on economic inequality and environmental degradation , Klara Zwickl, Economics

Dissertations from 2014 2014

Common Pool Resources and Rural Livelihoods in Stung Treng Province of Cambodia , Pitchaya Boonsrirat, Economics

The financialization of the nonfinancial corporation in the post-1970 U.S. economy , Leila Emami Davis, Economics

The Financial Underpinnings of the EU Crisis: Financial Deregulation, Privatization, and Asymmetric State Power , Nina Q. Eichacker, Economics

THE FINANCIAL SECTOR AND INCLUSIVE DEVELOPMENT IN AFRICA: ESSAYS ON ACCESS TO FINANCE FOR SMALL AND MEDIUM-SIZED ENTERPRISES IN SOUTH SUDAN AND KENYA , James A. Garang, Economics

OUTPUT FLUCTUATIONS AND ECONOMIC GROWTH IN LATIN AMERICA IN THE AFTERMATH OF THE GREAT RECESSION , Gonzalo Hernandez Jimenez, Economics

TEMPORARY EMPLOYMENT AND EARNINGS INEQUALITY IN SOUTH KOREA , Hyeon-Kyeong Kim, Economics

Three Essays in Macroeconomic History , Joshua W. Mason, Economics

Essays on the Evolution of Inequality , Cem Oyvat, Economics

FINANCIALIZATION OF THE COMMODITIES FUTURES MARKETS AND ITS EFFECTS ON PRICES , Manisha Pradhananga, Economics

Productive Stagnation and Unproductive Accumulation in the United States, 1947-2011. , Tomas N. Rotta, Economics

Advertising and the Creation of Exchange Value , Zoe Sherman, Economics

Understanding Income Inequality in the United States , Mark J. Stelzner, Economics

CARE TIME IN THE U.S.: MEASURES, DETERMINANTS, AND IMPLICATIONS , Joo Yeoun Suh, Economics

Essays on the minimum wage , Ben Zipperer, Economics

Dissertations from 2013 2013

Credit Chains, Credit Bubles, and Financial Fragility: Explaining The U.S. Financial Crisis of 2007-09 , Thomas L Bernardin, Economics

A Knife Hidden in Roses: Development and Gender Violence in the Dominican Republic , Cruz Caridad Bueno, Economics

Sustaining Rural Livelihoods in Upper Svaneti, Republic of Georgia , Robin J Kemkes, Economics

Contract as Contested Terrain: An Economic History of Law and the Rise of American Capitalism , Daniel P MacDonald, Economics

Essays on the Rising Demand for Convenience in Meal Provisioning in the United States , Tamara Ohler, Economics

Social Emulation, the Evolution of Gender Norms, and Intergenerational Transfers: Three Essays on the Economics of Social Interactions , Seung-Yun Oh, Economics

Decollectivization and Rural Poverty in Post-Mao China: A Critique of the Conventional Wisdom , Zhaochang Peng, Economics

Capitalist Crisis and Capitalist Reaction: The Profit Squeeze, the Business Roundtable, and the Capitalist Class Mobilization of the 1970s , Alejandro Reuss, Economics

The Economics of Same-Sex Couple Households: Essays on Work, Wages, and Poverty , Alyssa Schneebaum, Economics

The Political Economy of Cultural Production: Essays on Music and Class , Ian J. Seda Irizarry, Economics

Essays Of Human Capital Formation , Owen Thompson, Economics

Dissertations from 2012 2012

Knowledge, Gender, and Production Relations in India's Informal Economy , Amit Basole, Economics

Macroeconomic and Microeconomic Determinants of Informal Employment: The Case of Clothing Traders in Johannesburg, South Africa , Jennifer E Cohen, Economics

The Relationship Between Mass Incarceration and Crime in the Neoliberal Period in the United States , Geert Leo Dhondt, Economics

Fair Trade, Agrarian Cooperatives, and Rural Livelihoods in Peru , Noah Enelow, Economics

Organic Farming and Rural Transformations in the European Union: A Political Economy approach , Charalampos Konstantinidis, Economics

The Sources of Financial Profit: A Theoretical and Empirical Investigation of the Transformation of Banking in the US , Iren G. Levina, Economics

A Minskian Approach to Financial Crises with a Behavioural Twist: A Reappraisal of the 2000-2001 Financial Crisis in Turkey , Mathieu Perron-Dufour, Economics

Essays on Urban Sprawl, Race, and Ethnicity , Jared M. Ragusett, Economics

Agriculture and Class: Contradictions of Midwestern Family Farms Across the Twentieth Century , Elizabeth Ann Ramey, Economics

Women In Conflict, Peacebuilding And Reconstruction: Insights From The Aftermath Of Nepal's Maoist Insurgency , Smita Ramnarain, Economics

Money, Reality, and Value: Non-Commodity Money in Marxian Political Economy , Joseph Thomas Rebello, Economics

Three essays on oil scarcity, global warming and energy prices , Matthew Riddle, Economics

The Political Economy of Agrarian Change in the People's Republic of China , Zhun Xu, Economics

Dissertations from 2011 2011

State Hegemony and Sustainable Development: A Political Economy Analysis of Two Local Experiences in Turkey , Bengi Akbulut, Economics

Financial evolution and the declining effectiveness of US monetary policy since the 1980s , Hasan Comert

Why China Grew: Understanding the Financial Structure of Late Development , Adam S. Hersh, Economics

Solving the "Coffee Paradox": Understanding Ethiopia's Coffee Cooperatives Through Elinor Ostrom's Theory of the Commons , Susan Ruth Holmberg, Economics

Migration, Remittances And Intra-Household Allocation In Northern Ghana: Does Gender Matter? , Lynda Joyce Pickbourn, Economics

Youth and Economic Development: A Case Study of Out-of-School Time Programs for Low-Income Youth in New York State , Kristen Maeve Powlick, Economics

The Real Exchange Rate And Economic Development , Martin Rapetti, Economics

Essays on International Reserve Accumulation and Cooperation in Latin America , Luis Daniel Rosero, Economics

Three Essays on Racial Disparities in Infant Health and Air Pollution Exposure , Helen Scharber, Economics

Dissertations from 2010 2010

Capitalism in Post-Colonial India: Primative Accumulation Under Dirigiste and Laissez Faire Regimes , Rajesh Bhattacharya, Economics

Uneven Development and the Terms of Trade: A Theoretical and Empirical Analysis , Bilge Erten, Economics

Gendered Vulnerabilities After Genocide: Three Essays on Post-Conflict Rwanda , Catherine Ruth Finnoff, Economics

The Employment Impacts of Economy-wide Investments in Renewable Energy and Energy Efficiency , Heidi Garrett-Peltier, Economics

Household Employer Payroll Tax Evasion: An Exploration Based on IRS Data and on Interviews with Employers and Domestic Workers , Catherine B. Haskins, Economics

Racial Inequality and Affirmative Action in Malaysia and South Africa , Hwok-Aun Lee, Economics

Essays on Behavioral Labor Economics , Philip Pablo Mellizo, Economics

Three Essays on the Political Economy of Live Stock Sector in Turkey , Hasan Tekguc, Economics

The Impact Of Public Employment On Health , Wei Zhang, Economics

Dissertations from 2009 2009

Effort, work hours, and income inequality: Three essays on the behavioral effects of wage inequality , Michael Carr

Essays on investment, real exchange rate, and central bank in a financially liberalized Turkey , Deger Eryar

Essays On Investment, Real Exchange Rate, And Central Bank In A Financially Liberalized Turkey , Deger Eryar, Economics

Labor Turnover in the Child-Care Industry: Voice and Exit , Lynn A. Hatch, Economics

Three Essays on Conflict and Cooperation , Sungha Hwang, Economics

Economic Reforms in East African Countries: The Impact on Government Revenue and Public Investment , Adam Beni Swebe Mwakalobo, Economics

Post-Marxism After Althusser: A Critique Of The Alternatives , Ceren Ozselcuk, Economics

Essays on Financial Behavior and its Macroeconomic Causes and Implications , Soon Ryoo, Economics

Skill Mismatch and Wage Inequality in the U.S. , Fabian Slonimczyk, Economics

Linkages Between Inequality And Environmental Degradation: An Interregional Perspective , Marina S Vornovytskyy, Economics

Dissertations from 2008 2008

Migrant women and economic justice: A *class analysis of Anatolian -German women in homemaking and cleaning services , Esra Erdem

Emigrant or sojourner? The determinants of Mexican labor migration strategies to the United States , Florian K Kaufmann

Macrofinancial risk management in the U.S. economy: Regulation, derivatives, and liquidity preference , Marcelo Milan

Essays on behavioral economics , Wesley Jose Pech

The impact of land ownership inequality on rural factor markets , Fatma Gul Unal

Three essays on family care, time allocation, and economic well -being , Jayoung Yoon

Dissertations from 2007 2007

Capital flight and foreign direct investment in the Middle East and North Africa: Comparative development and institutional analysis , Abdullah Almounsor

Investment under financial liberalization: Channels of liquidity and uncertainty , Armagan Gezici

Three essays on social dilemmas with heterogeneous agents , Mark Howard

Between the market and the milpa: Market engagements, peasant livelihood strategies, and the on -farm conservation of crop genetic diversity in the Guatemalan highlands , S. Ryan Isakson

Late neoclassical economics: Restoration of theoretical humanism in contemporary mainstream economics , Yahya Mete Madra

Inequality and the Human Development Index , Elizabeth Anne Stanton

Dissertations from 2006 2006

Institutional settings and organizational forms: Three essays , Alper Duman

Labor market characteristics and the determinants of political support for social insurance , Anil Duman

State power, world trade, and the class structure of a nation: An overdeterminist class theory of national tariff policy , Erik E Guzik

Unions and the strategy of class transformation: The case of the Broadway musicians , Catherine P Mulder

Children's work and opportunities for education: Consequences of gender and household wealth , Sevinc Rende

The economics of immigration: Household and employment dynamics , Maliha Safri

Dissertations from 2005 2005

Capital flight from Southeast Asia: Case studies on Indonesia, Malaysia, the Philippines, and Thailand , Edsel L. Beja

Rethinking municipal privatization: A Marxian class analysis of the privatization of New York City's Central Park , Oliver David Cooke

Financial liberalization and its distributional consequences: An empirical exploration , Arjun Jayadev

Three essays on gender, land rights, and collective action in Brazil's rural political economy , Merrilee Mardon

Land markets, female land rights and agricultural productivity in Paraguayan agriculture , Thomas Masterson

Workers' struggles and transformations of capitalism at industrial enterprises in Russia, 1985–2000 , Maxim V Maximov

Economy and society: Class relations and the process of economic growth , Erik K Olsen

Gender, liberalization and agrarian change in Telangana , Smriti Rao

The contradictory imperatives of New Deal banking reforms. , Ellen D. Russell, Economics

Equity in community -based sustainable development: A case study in western India , Priya Parvathy Sangameswaran

Mandated wage floors and the wage structure: Analyzing the ripple effects of minimum and prevailing wage laws , Jeannette Wicks-Lim

Public enterprises in mixed economies: Their impact on economic growth and social equity , Andong Zhu

Dissertations from 2004 2004

An economic analysis of prison labor in the United States , Asatar P Bair

Three essays on income, inequality and environmental degradation , Rachel A Bouvier

The implementation and enforcement of environmental regulations in a less developed market economy: Evidence from Uruguay , Marcelo F Caffera

Race, altruism and trust: Experimental evidence from South Africa , Justine Claire Keswell

Exchanging entailments: The contested meaning of commodity exchange , Philip M Kozel

Three essays on capital account liberalization and economic growth: New measures, new estimates and the experience of South Korea , Kang-Kook Lee

Enterprise hybrids and alternative growth dynamics , Kenneth M Levin

Social interaction and economic institution , Yongjin Park

Research and policy considerations in the valuation and the allocation of environmental and health commodities , Mihail Samnaliev

Immiserizing growth: Globalization and agrarian change in Telangana, South India between 1985 and 2000 , Vamsicharan Vakulabharanam

Social networks and labor market outcomes: Theoretical expansions and econometric analysis , Russell E Williams

Dissertations from 2003 2003

Three essays on the evolution of cooperation , Jung-Kyoo Choi

Economic size and long -term growth: An empirical analysis of the consequences of small economic size on investment, productivity and income growth , Pavel E Isa

Essays on categorical inequality, non-linear income dynamics and social mobility in South Africa , Malcolm M Keswell

The effectiveness of tax incentives in attracting investment: The case of Puerto Rico , Carlos F Liard-Muriente

A theoretical and statistical exploration into the effects of morals, personality and uncertainty on hypothetical bias in contingent valuation , Joseph D Ogrodowczyk

The role of the stock market in influencing firm investment in China , Feng Xiao

Dissertations from 2002 2002

Essays on the threat effects of foreign direct investment on labor markets , Minsik Choi

An international analysis of child welfare , Nasrin Dalirazar

Fiscal faux pas? An empirical analysis of the revenue and expenditure implications of trade liberalization , Barsha Khattry

Property from the sky: The creation of property rights in the radio spectrum in the United States , Elizabeth M Kruse

Three essays on China's state owned enterprises: Towards an alternative to privatization , Minqi Li

From welfare rights to welfare fights: Neo -liberalism and the retrenchment of social provision , John Arthur O'Connor

Political community and individual gain: Aristotle, Adam Smith and the problem of exchange , Kimberly Kaethe Sims

Rethinking prostitution: Analyzing an informal sector industry , Marjolein Katrien van der Veen

Dissertations from 2001 2001

Land and labor markets among paddy producers in the Nepalese Tarai , Ravi Bhandari

What drives equity values: fundamentals or net flows? An empircal analysis of the 1982--1999 United States stock market boom , Lawrence Lee Evans

Investment, labor demand, and political conflict in South Africa , James S Heintz

Education, Inequality and Economic Mobility in South Africa , Thomas Nathaniel Hertz

Employer work -family programs: Essays on policy implementation, employee preferences, and parental childcare choices , Sally Jane Kiser

Valuing environmental health risks: A comparison of stated preference techniques applied to groundwater contamination , Tammy Barlow McDonald

Endogenous quality and intra-industry trade , Edward Allan McPhail

Perceptions of Massachusetts family and consumer sciences education professionals regarding the importance and use of the National Standards for Family and Consumer Sciences Education in Massachusetts , Jo Ann Pullen

From feudal serfs to independent contractors: Class and African American women's paid domestic labor, 1863–1980 , Cecilia M Rio

A home of one's own: Overcoming gender and familial status barriers to homeownership , Judith K Robinson

Springfield Armory as industrial policy: Interchangeable parts and the precision corridor , Bruce K Tull

Dissertations from 2000 2000

Intergroup inequality, social identity and economic outcomes , Katherine E Baird

Engendering Globalization: Household Structures, Female Labor Supply and Economic Growth , Elissa Braunstein

Capital, conditionality, and free markets: The International Monetary Fund, the World Bank, and the effects of the neoliberal transformation in Latin America and the Caribbean , Andres Carbacho-Burgos

Rural institutions, poverty and cooperation: Learning from experiments and conjoint analysis in the field , Juan-Camilo Cardenas

Understanding the equal split as a bargaining convention and the role of residual claimancy in team production: Three essays in behavioral and experimental economics , Jeffrey Paul Carpenter

Enforcing market -based environmental policies , Carlos A Chavez Rebolledo

A comparative analysis of three economic theories focusing upon the international trade of hazardous waste (the case of electric arc furnace dust) , Amy Silverstein Cramer

The political economy of transformation in Hungary , Anita Dancs

Cross -media transfers of pollution and risk , Janine Marie Dombrowski

Essays on endogenous preferences and public generosity , Christina Margareta Fong

Con nuestro trabajo y sudor: Indigenous women and the construction of colonial society in 16th and 17th century Peru , Karen B Graubart

Banks, insider lending and industries of the Connecticut River Valley of Massachusetts, 1813–1860 , Paul Andre Lockard

Existence value: A reappraisal and cross -cultural comparison , Billy Manoka

Quality management systems and the estimation of market power exertion , Corinna Michaela Noelke

The power of personality: Labor market rewards and the transmission of earnings , Melissa Anne Osborne

Accumulation and European unemployment , Engelbert Richard Stockhammer

Modeling Superfund: A hazardous waste bargaining model with rational threats , Mary Anderson Taft

Welfare, inequality, and resource depletion: A reassessment of Brazilian economic growth, 1965–1993 , Mariano Torras

Dissertations from 1999 1999

Steadying the husband, uplifting the race: The Pittsburgh Urban League's promotion of black female domesticity during the Great Black Migration , Nina Elizabeth Banks

The origins of parallel segmented labor and product markets: A reciprocity-based agency model with an application to motor freight , Stephen V Burks

R&D, advertising, and profits: Economic theory, empirical evidence, and consequences for transfer pricing policy , David W DeRamus

Rethinking demand: A critique and reformulation of Marxian theories of price , David Leo Kristjanson

Wealth, the power to set terms, and the financing and control of firms , Paul N Malherbe

Intra -family transfers and the household division of labor: A case study of migration and remittance behavior in South Africa , Dorrit Ruth Posel

Transportation network policy modeling for congestion and pollution control: A variational inequality approach , Padma Ramanujam

The political economy of organized baseball: Analysis of a unique industry , Ross David Weiner

Dissertations from 1998 1998

The internationalization of production and its effects on the domestic behavior of United States manufacturing multinational firms , James Michael Burke

Neoliberal and neostructuralist theories of competitiveness and flexible labor: The case of Chile's manufactured exports, 1973-1996 , Fernando Ignacio Leiva

An econometric study of the export sector of Somalia , Mohamed A Osman

Financial liberalization, multinational banks and investment: Three essays on the cases of Hungary and Poland , Christian Erik Weller

Dissertations from 1997 1997

Structuralism and individualism in economic analysis: The "contractionary devaluation debate" in development economics , S Charusheela

Financial liberalization in Mexico, 1989-1993 , Colin Danby

CEO pay, agency, and the theory of the firm , Frederick Dexter Guy

Food quality regulation under trade agreements: Effects on the supply of food safety and competitiveness , Neal Hilton Hooker

Agency problems in the capital markets and the employment relationship: The possibility of efficiency-enhancing institutional innovation: An empirical case-study , Pierre Laliberte

New directions in the political economy of consumption , Allan Henry MacNeill

Capabilities and processes of industrial growth: The case of Argentina and the Argentine auto industry , Marcela Monica Miozzo

Manufacturers' responses to new nutrition labeling regulations , Eliza Maria Mojduszka

Rethinking rural development: Making peasant organizations work. The case of Paraguay , Jose R Molinas Vega

Property regimes, technology, and environmental degradation in Cuban agriculture , Hector R Saez

International multi-sector, multi-instrument financial modeling and computation: Statics and dynamics , Stavros Siokos

Three essays on government decision-making to implement and enforce environmental policies , Kristin Ellen Skrabis

Dissertations from 1996 1996

An economic critique of urban planning and the 'postmodern' city: Los Angeles , Enid Arvidson

Dissertations from 1995 1995

Trade liberalization and income distribution: Three essays with reference to the case of Mexico and the North American Free Trade Agreement (NAFTA) , Mehrene E Larudee

Dissertations from 1994 1994

Subjectivism and the limits of F. A. Hayek's political economy , Theodore A Burczak

International currencies and endogenous enforcement , Roohi Prem

Three essays on key currencies and currency blocs , Ellen Tierney

Dissertations from 1993 1993

Capitalist regulation and unequal integration: The case of Puerto Rico , Jaime Eduardo Benson

Production and reproduction: Family policy and gender inequality in East and West Germany , Lynn Susan Duggan

Dissertations from 1992 1992

Capital controls and long-term economic growth , Jessica G Nembhard

Dissertations from 1990 1990

Concentration and product diversity in culture-based industries: A case study of the music recording industry , Peter James Alexander

Dissertations from 1987 1987

THE DETERMINANTS OF THE ECONOMIC POLICIES OF STATES IN THE THIRD WORLD: THE AGRARIAN POLICIES OF THE ETHIOPIAN STATE, 1941-1974 , HENOCK KIFLE

Dissertations from 1986 1986

The Political-Economy of Nuclear Power 1946-1982 , Steven Mark Cohn, Economics

Dissertations from 1985 1985

THE IMPACT OF PUBLIC SECTOR EMPLOYMENT ON RACIAL INEQUALITY: 1950 TO 1984 (BLACK, AFFIRMATIVE ACTION, GOVERNMENT, UNEMPLOYMENT, LABOR) , PETER GEORGE BOHMER

THE GROWTH OF NONMARRIAGE AMONG U.S. WOMEN, 1954-1983 (MARRIAGE, FAMILY, HOUSEHOLDS, UNITED STATES) , ELAINE DENISE MCCRATE

Dissertations from 1983 1983

TAXATION AND PUBLIC SCHOOL FINANCE REFORM IN CONNECTICUT , MICHAEL ROBERT FEDEROW

Dissertations from 1982 1982

Evolution of a Hospital Labor System: Technology, Coercion, and Conflict , Jean E. Fisher, Economics

Dissertations from 1981 1981

THE DEVELOPMENT OF THE MARKET ECONOMY IN COLONIAL MASSACHUSETTS , RONA STEPHANIE WEISS

Dissertations from 1980 1980

Justice and economic theory. , Barry Stewart Clark, Economics

Dissertations from 1976 1976

EVALUATION OF NEOCLASSICAL THEORY OF PRICE, PRODUCTION AND THE DISTRIBUTION OF INCOME. , MANUCHER DARESHURI

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COST PROBLEMS OF THE RUTLAND RAILROAD AND ITS SUCCESSORS FROM--1937 TO 1968 , ROBERT DAVID SMITH

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A Political Economy of Justice

Edited by Danielle Allen , Yochai Benkler , Leah Downey , Rebecca Henderson , and Josh Simons

Economics and Business: Economics--General Theory and Principles

Philosophy: Political Philosophy

Political Science: Comparative Politics , Political and Social Theory

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Despite polarized attitudes, Rebecca Henderson argues that it's the perfect time for companies to reset their moral compass. In an essay from the book A Political Economy of Justice , she explores the social efforts of Cadbury and Unilever. Henderson says companies and societies have long had qualms about the pursuit of profit only for profit’s sake. In early capitalist Renaissance Italy, for instance, lending money was considered a sin. Plus, she points to Walmart, founded in 1962 with a mission of making consumer goods more affordable for a broader swath of low-income Americans. Her chapter, “Reimagining Capitalism: Could Purpose-Driven Firms Help to Build a Just and Sustainable World?” also explores corporate partnerships that support social good, such as one that Unilever pioneered to unite a group of companies to sustainably produce palm oil.

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'Shrinking in size, but not in price' - Everything you need to know about 'shrinkflation'

Woman in red long sleeve shirt and black pants standing on white floor tiles at a grocery store overlooking the shelves. Caption: Products are becoming smaller in size but maintaining the same prices.

Products are becoming smaller in size but maintaining the same prices. Image: Unsplash/Franki Chamaki

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Consumer products getting smaller in size but not changing price is a practice that’s become known as “shrinkflation”.
It is a symptom of high inflation rates and rising living costs seen around the world.
But expectations for high inflation have been pared back across all regions, according to the World Economic Forum’s latest Chief Economists Outlook.

“A bag of chips has fewer chips, but they’re still charging us just as much.”

That's the President of the United States slamming companies for engaging in "shrinkflation", widely reported earlier this year. And President Biden's ire is not limited to crunchy snacks.

“As an ice cream lover, what makes me most angry is that ice cream cartons have actually shrunk in size, but not in price,” he continued.

What is shrinkflation?

Consumer products getting smaller in size but not changing price is a practice that’s become known as “shrinkflation” and is closely related to “skimpflation”, a practice that sees companies reduce the quality of their product or service while keeping the price the same.

Item categories with highest instance of downsizing and upsizing

Examples of skimpflation include consumer brands reducing the amount of chicken in their chicken enchilada products or reducing the pork content in sausages and choosing cheaper ingredients instead.

Major producers and brands around the world have adopted this strategy. And while it might be good for the business bottom line, it can result in customer dissatisfaction and erode trust. Both are forms of hidden inflation at a time when actual inflation has been high by historical standards.

In order to build a resilient future for all stakeholders, the World Economic Forum's Platform for Shaping the Future of Consumption aims to shape responsible models of consumption that are equitable, promote societal well-being, and protect the planet.

The Consumers Beyond Waste initiative is empowering consumers to access reuse consumption models at scale. It’s vibrant community of changemakers across leading consumer companies, reuse innovators, civil society, and policymakers have established strategic frameworks to enable an economically viable transition to reuse, along with guidelines for design, health and safety, and municipal considerations to facilitate adoption. In its next phase of impact, the initiative is building a framework for standardized reuse measurement and reporting and advancing the development of reuse policies and legislation at scale.
The New Frontiers of Nutrition initiative is dedicated to transforming lives through the power of nutrition via system-wide change. Leading experts and researchers in nutrition, companies from multiple industries, and public partners are joining forces to shape transformative solutions to accelerate the availability, access, and adoption of nutritious food choices to empower holistic – physical and mental - health and wellbeing of consumers.
The Future of Personalized Wellbeing initiative is harnessing the power of digital biology to revolutionize the overall well-being of individuals. It has convened a community of technology innovators, consumer companies, data experts, academics, and progressive public sector actors to establish a future-oriented vision and roadmap for the widespread adoption and use of precision consumption solutions focused on precision nutrition and personal care.
The Scope 3 Decarbonization: The Consumer Opportunity initiative is identifying the demand-side strategic pathways required for Scope 3 decarbonization within the net-zero commitment framework. It brings together an ecosystem of leading cross-industry actors and public sector organizations to empower citizens in leading net zero lives anchored in new patterns of consumption.

One of the reasons the rate of inflation matters so much is because it plays directly into the cost-of-living crisis, where consumers around the world have felt prices rising more quickly than usual.

Shrinkflation rising up the political agenda

In the US, Senator Bob Casey has introduced a bill to fight the shrinkflation of consumer goods that American families routinely purchase. His analysis shows how widespread shrinkflation is, and the bill would direct the Federal Trade Commission (FTC) to establish it as an unfair or deceptive practice. It would also authorize civil action against corporations that practise shrinkflation.

ITEM CATEGORIES WITH THE HIGHEST SHRINKFLATION

Meanwhile in France, retailers will soon have to flag to shoppers if a product has been reduced in size without a corresponding cut in price, the country’s finance ministry announced in April.

The move comes after food inflation hit a record high of 16% last year, sparking political action in France, Reuters reported.

Have you read?

What to expect from inflation in 2024: imf’s kristalina georgieva, it is time to create an economy that works for all, banking crisis: 5 pieces of financial jargon, explained, inflation and shrinkflation.

There are signs that inflation has peaked and, according to Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and the positive trend looks set to continue in 2024.

“The inflation rate is going down, on average,” she told the World Economic Forum in an interview during the Annual Meeting in Davos, Switzerland in January.

This is also reflected in the World Economic Forum’s Chief Economists Outlook for January 2024 . The survey results show an improvement in the inflation outlook for 2024, with expectations for high inflation being pared back across all regions.

“The improvement in expectations is particularly marked for Europe and the US,” the report says. “With the share of respondents expecting high or very high inflation declining.”

And while research from the US Bureau of Labor Statistics shows that shrinkflation has little impact on overall inflation rates, what’s clear is that political leaders and policymakers remain focused on the issue.

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World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

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