An
economist is an expert in the
social scienceThe social sciences are the fields of scientific knowledge and academic scholarship that study social groups and, more generally, human society. The social sciences initially were constituted of five fields: Jurisprudence and Amendment of the Law; Education; Health; Economy and Trade; Art...
of
economicsEconomics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. The individual may also study, develop, and apply theories and concepts from economics and write about
economic policyEconomic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labour market, national ownership, and many other areas of government interventions into the economy.Such policies are often...
. Within this field there are many sub-fields, ranging from the broad
philosophicalPhilosophy is the study of general and fundamental problems concerning matters such as existence, knowledge, values, reason, mind, and language. Philosophy is distinguished from other ways of addressing these questions by its critical, generally systematic approach and its reliance on reasoned...
theoriesThe term theory has two broad sets of meanings, one used in the empirical sciences and the other used in philosophy, mathematics, logic, and across other fields in the humanities. There is considerable difference and even dispute across academic disciplines as to the proper usages of the term...
to the focused study of minutiae within specific
marketA market is any one of a variety of different systems, institutions, procedures, social relations and infrastructures whereby persons trade, and goods and services are exchanged, forming part of the economy. It is an arrangement that allows buyers and sellers to exchange things...
s,
macroeconomicMacroeconomics is a branch of economics that deals with the performance, structure, and behavior of a national or regional economy as a whole. Along with microeconomics, macroeconomics is one of the two most general fields in economics. It is the study of the behavior and decision-making of entire...
analysis,
microeconomicMicroeconomics is a branch of economics that studies how households and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold...
analysis or
financial analysisFinancial analysis refers to an assessment of the viability, stability and profitability of a business, sub-business or project.It is performed by professionals who prepare reports using ratios that make use of information taken from financial statements and other reports. These reports are usually...
, involving analytical methods and tools such as
econometricsEconometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles. Econometrics combines economic theory with statistics to analyze and test economic relationships...
,
statisticsStatistics is a branch of mathematics concerned with collecting and interpreting data. According to other definitions, it is a mathematical science pertaining to the collection, analysis, interpretation or explanation, and presentation of data. Statisticians improve the quality of data with the...
, economics
computational modelA computational model is a mathematical model in computational science that requires extensive computational resources to study the behavior of a complex system by computer simulation. The system under study is often a complex nonlinear system for which simple, intuitive analytical solutions are...
s,
financial economicsFinancial economics is the branch of economics concerned with "the allocation and deployment of economic resources, both spatially and across time, in an uncertain environment" ....
,
mathematical financeMathematical finance comprises the branches of applied mathematics concerned with the financial markets.The subject has a close relationship with the discipline of financial economics, which is concerned with much of the underlying theory. Generally, mathematical finance will derive, and extend,...
and
mathematical economicsMathematical economics refers to the application of mathematical methods to represent economic theories and analyze problems posed in economics. It allows formulation and derivation of key relationships in a theory with clarity, generality, rigor, and simplicity...
.
In academia
The professionalization of economics, reflected in academia, has been described as "the main change in economics since around 1900." Economists debate the path they believe their profession should take. It is, primarily, a debate between a scholastic orientation, focused on mathematical techniques, and a public discourse orientation, which is more focused on communicating to lay people pertinent economic principles as they relate to
public policyPublic policy can be generally defined as the course of action or inaction taken by governmental entities with regard to a particular issue or set of issues...
. Surveys among economists indicate a preference for a shift toward the latter. However, these preferences expressed in private often differ with what is actually acted out in the public eye.
Most major universities have an economics faculty, school or department, where
academic degreeA degree is any of a wide range of status levels conferred by institutions of higher education, such as universities, normally as the result of successfully completing a program of study.- History :...
s are awarded in economics. However, many prominent economists come from a background in
mathematicsMathematics is the science and study of quantity, structure, space, and change. Mathematicians seek out patterns, formulate new conjectures, and establish truth by rigorous deduction from appropriately chosen axioms and definitions....
,
engineeringEngineering is the discipline, art and profession of acquiring and applying technical, scientific and mathematical knowledge to design and implement materials, structures, machines, devices, systems, and processes that safely realize a desired objective or inventions.The American Engineers' Council...
,
businessA business is a legally recognized organization designed to provide goods and/or services to consumers. Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit that will increase the wealth of its owners and grow the business itself...
,
lawLaw is a system of rules, usually enforced through a set of institutions. It shapes politics, economics and society in numerous ways and serves as a primary social mediator of relations between people. Contract law regulates everything from buying a bus ticket to trading on derivatives markets...
,
sociologySociology is the scientific or systematic study of human societies. It is a branch of social science that uses various methods of empirical investigation and critical analysis to develop and refine a body of knowledge about human social structure and activity, often with the goal of applying such...
, or
historyHistory is the study of the human past, with special attention to the written record. Scholars who write about history are called historians. It is a field of research which uses a narrative to examine and analyse the sequence of events, and it often attempts to investigate objectively the patterns...
. Getting a PhD in economics takes six years, on average, with a median of 5.3 years.
The
Nobel Memorial Prize in EconomicsThe Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics , is an award for outstanding contributions to the science of economics and is generally considered one of the most prestigious awards for that science. The official name is the Sveriges Riksbank...
, established by
Sveriges RiksbankSveriges Riksbank, or simply Riksbanken, is the central bank of Sweden and the world's oldest central bank. It is sometimes called the Swedish National Bank or the Bank of Sweden-History:...
in 1968, is a prize awarded to economists each year for outstanding intellectual contributions in the field of economics. The prize winners are announced in October every year. They receive their awards (a prize amount, a gold medal and a diploma) on December 10, the anniversary of
Alfred Nobelwas a Swedish chemist, engineer, innovator, armaments manufacturer and the inventor of dynamite. He owned Bofors, a major armaments manufacturer, which he had redirected from its previous role as an iron and steel mill. In his last will, he used his enormous fortune to institute the Nobel Prizes...
's death.
Professions
Economists work in many fields including academia, government and in the private sector, where they may also "...study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess this information using advanced methods in statistical analysis, mathematics, computer programming [and] they make recommendations about ways to improve the efficiency of a system or take advantage of trends as they begin."
It more difficult to define the professional category of "economists" than to define regulated professions such as engineering, law or medicine. While a lawyer, for example, may be generally defined as a person possessing a law degree and state license to practice law, there is not a legally-required educational requirement or license for economists. In some job settings, the possession of a Bachelor's or Master's degree in economics is considered the minimum credential for being an economist. However, in some parts of the US government, a person can be considered an economist as long as they have four or more university courses in economics. As well, a person can gain the skills required to become a professional economist in other related disciplines, such as statistics or some types of
applied mathematicsApplied mathematics is a branch of mathematics that concerns itself with the mathematical techniques typically used in the application of mathematical knowledge to other domains.-Divisions of applied mathematics:...
, such as
mathematical financeMathematical finance comprises the branches of applied mathematics concerned with the financial markets.The subject has a close relationship with the discipline of financial economics, which is concerned with much of the underlying theory. Generally, mathematical finance will derive, and extend,...
or
game theoryGame theory is a branch of applied mathematics that is used in the social sciences, most notably in economics, as well as in biology, engineering, political science, international relations, computer science, and philosophy...
.
A professional working inside of one of many fields of economics or having an academic degree in this subject is widely considered to be an economist, and any person within any of these fields can claim to be one. Economists are also employed in
bankingA bank is a financial institution licensed by a government. Its primary activities include borrowing and lending money.Many other financial activities were allowed over time. For example banks are important players in financial markets and offer financial services such as investment funds...
,
financeFinance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money and risk and how they are interrelated...
,
accountancyAccountancy or accounting is the art of communicating financial information about a business entity to users such as shareholders and managers...
,
commerceCommerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information, or money between two or more entities...
,
marketingMarketing is an integrated communications-based process through which individuals and communities are informed or persuaded that existing and newly-identified needs and wants may be satisfied by the products and services of others....
,
business administrationManagement in all business and human organization activity is simply the act of getting people together to accomplish desired goals and objectives. Management comprises planning, organizing, staffing, leading, directing, facilitating and controlling or manipulating an organization or effort for...
,
lobbyingLobbying is the practice of influencing decisions made by government . It includes all attempts to influence legislators and officials, whether by other legislators, constituents, or organized groups. A lobbyist is a person who tries to influence legislation on behalf of a special interest or a...
and non- or not-for profit organizations.
PoliticianA politician or political leader is an individual who is involved in influencing public decision making. This includes people who hold decision-making positions in government, and people who seek those positions, whether by means of election, coup d'état, appointment, electoral fraud, conquest,...
s often consult economists before enacting
policyA policy is typically described as a deliberate plan of action to guide decisions and achieve rational outcome. However, the term may also be used to denote what is actually done, even though it is unplanned....
, and many statesmen have academic degrees in economics (see
List of politicians with economics training).
By country
Economics
graduateAn alumnus according to the American Heritage Dictionary is "a graduate or former student of a school, college, or university." In addition, an alumna An alumnus (pl. alumni) according to the American Heritage Dictionary is "a graduate (JC) or former student of a school, college, or university."...
s are employable in varying degrees, depending on the regional economic scenario and
labour marketLabour economics seeks to understand the functioning and dynamics of the market for labour. Labour markets function through the interaction of workers and employers...
conditions at the time for a given country. Apart from the specific understanding of the subject, employers value the skills of numeracy and analysis, the ability to
communicate Communication is a process of transferring information from one entity to another. Communication processes are sign-mediated interactions between at least two agents which share a repertoire of signs and semiotic rules. Communication is commonly defined as "the imparting or interchange of...
and the capacity to grasp broad issues which the graduates acquire at the
universityA university is an institution of higher education and research, which grants academic degrees in a variety of subjects. A university provides both undergraduate education and postgraduate education...
or
collegeCollege is a term most often used today to denote degree awarding tertiary educational institution. More broadly, it can be the name of any group of colleagues, for example, an electoral college, a College of Arms or the College of Cardinals...
. Whilst only a few economics graduates may be expected to become professional economists, many find it a base for entry into a career in
financeFinance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money and risk and how they are interrelated...
– including accounting, insurance, tax and banking, or
managementManagement in all business and human organization activity is simply the act of getting people together to accomplish desired goals and objectives. Management comprises planning, organizing, staffing, leading, directing, facilitating and controlling or manipulating an organization or effort for...
. A number of economics graduates from around the world have been successful in obtaining employment in a variety of major national and international firms in the financial and commercial sectors, and in manufacturing, retailing and IT, as well as in the public sector – for example, in the health and education sectors, or in
governmentA government is the body within a community, political entity or organization which has the authority to make and enforce rules, laws and regulations.....
and
politicsPolitics is a process by which groups of people make decisions. The term is generally applied to behavior within civil governments, but politics has been observed in all human group interactions, including corporate, academic and religious institutions...
. Small numbers go on to undertake postgraduate studies, either in economics, research, teacher training or further qualifications in specialist areas.
United States
According to the United States Department of Labor there were 13,000 economists in the US with a median salary of roughly $72,780 with the top ten percent earning more than $129,170 annually. About 400 colleges and universities grant about 900 new
Ph.D.Doctor of Philosophy, abbreviated PhD , for the Latin , meaning "teacher of philosophy", or alternatively, DPhil, for the equivalent , is an advanced academic degree awarded by universities...
s in economics each year. The type of academic degree, Bachelors, Masters or Doctorate degree had significant influence on an individuals job outlook and salary. While the overall expected job growth for economists remains below nation average, the demand for those with a Doctorate, especially those employed in the corporate sector, is expected to increase at a considerably faster pace. Incomes were highest for those in the private sector, followed by the federal government with academia and high schools paying the lowest incomes. Median salaries ranged from $45,000 for those with a Bachelor to $85,000 for those with a Ph.D. in economics. A recent and continuous study by PayScale.com showed Economic consultants with a Ph.D. had the overall highest median income for any group making $116,250, the median salaries for an assistant professor was $63,500, for an associate professor it lay at $67,000 and $85,000 for a full professor. The overall median income for doctorates in academia was $75,000 compared to $125,000 in consulting and $87,000 in banking.
Policy advising and analyzing of economic current trends are among the main responsibilities of economists in the United States. A recent study of U.S. economists by Daniel B. Klein and Charlotta Stern found that the responses show that most economists are supporters of safety regulations, gun control, redistribution, public schooling, and anti-discrimination laws. They are evenly mixed on personal choice issues, military action, and the minimum wage. Most economists oppose tighter immigration controls, government ownership of enterprise and tariffs. A study in the
Southern Economic Journal found that "71 percent of American economists believe the distribution of
income in the USIncome in the United States is measured by the United States Department of Commerce either by household or individual. The differences between household and personal income is considerable since 42% of households, the majority of those in the top two quintiles with incomes exceeding $57,658, now...
should be
more equalIncome inequality in the United States is the extent to which income, most commonly measured by household or individual, is distributed in an uneven manner...
, and 81 percent feel that the redistribution of income is a legitimate role for government."The Cultural Context of Economics and Politics. Lanham, MA: University Press of America. with registered
DemocratsThe Democratic Party is one of the two major contemporary political parties in the United States, along with the Republican Party. It is the oldest political party in continuous operation in the United States and it is one of the oldest parties in the world. In the U.S...
outnumbering registered
RepublicansThe Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the Grand Old Party or the GOP, despite being the younger of the two major parties. In the U.S...
2.5:1.
United Kingdom
The largest single professional grouping of economists in the
UKThe United Kingdom of Great Britain and Northern Ireland is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of Ireland, and many small islands...
are the more than 1000 members of the
Government Economic ServiceThe Government Economic Service was founded in 1964 by Sir Alec Cairncross. It is a professional grouping of over 1500 UK public sector economists who work across some 40 government departments and agencies, the Bank of England is also a Corporate Member of the GES. The GES recruits economists on...
, who work in 30 government departments and agencies.
Analysis of destination surveys for economics graduates from a number of selected top schools of economics in the United Kingdom (ranging from Newcastle University to the
London School of EconomicsThe London School of Economics and Political Science, commonly referred to as the London School of Economics or LSE, is a specialist constituent college of the University of London in London, England....
), shows nearly 80 per cent in employment six months after graduation – with a wide range of roles and employers, including regional, national and international organisations, across many sectors. This figure compares very favourably with the national picture, with 64 per cent of economics graduates in employment.
Famous economists
Early economists were found in the
Ancient Greek worldAncient Greece is the civilisation belonging to the period of Greek history lasting from the Greek Dark Ages ca. 1100 BC and the Dorian invasion, to 146 BC and the Roman conquest of Greece after the Battle of Corinth. It is generally considered to be the seminal culture which provided the...
, with
AristotleAristotle was a Greek philosopher, a student of Plato and teacher of Alexander the Great. He wrote on many subjects, including physics, metaphysics, poetry, theater, music, logic, rhetoric, politics, government, ethics, biology, and zoology.Together with Plato and Socrates , Aristotle is one of...
(382-322 BC) expounding in his work
Topics on the topic of human production and further examining the topic in
Politics.
XenophonXenophon , son of Gryllus, of the deme Erchia of Athens, also known as Xenophon of Athens and Xenophon of Thebes, was a soldier, mercenary, and a contemporary and admirer of Socrates...
(431-355) also wrote extensively on the Athenian economy in his work
Economics. According to Jha,L.K. and Jha,K.N "the pioneer economist of the world" was
ChanakyaChanakya was an adviser and a prime minister to the first Maurya Emperor Chandragupta , and was the chief architect of his rise to power. Kautilya and Vishnugupta, the names by which the ancient Indian political treatise called the Arthaśāstra identifies its author, are traditionally identified...
(c. 350-283 BC) an adviser and prime minister to the first Maurya Emperor Chandragupta from 340-293 BC.also refer Jha,K.N. and Jha,L.K.(1998)Chanakya the pioneer economist of the world:His contribution in economic management,APH Publishing corporation,New Delhi(india),pp1-275.
In the 1700s, one of the first economic writers was
Richard CantillonRichard Cantillon , acknowledged by many historians as the first great economic "theorist", is an obscure character. This much is known: he was an Irishman with a Spanish name who lived in France most of his life...
(1680-1734), who wrote the treatise
Essai Sur la Nature du Commerce en Général. Early founders of economic concepts included the Scottish philosopher, economist, and historian,
David HumeDavid Hume was a Scottish philosopher, economist, historian and a key figure in the history of Western philosophy and the Scottish Enlightenment...
(1711-1776), and the so-called "classical economists": English demographer and political economist Thomas Robert Malthus (1766-1834), political economist
David RicardoDavid Ricardo was an English political economist, often credited systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus and Adam Smith. He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable...
(1772–1823), and the Scottish moral philosopher and political economist
Adam SmithAdam Smith was a Scottish moral philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations...
(1723-1790).
Other early developers of economic concepts include the British philosopher, political economist
John Stuart MillJohn Stuart Mill , English philosopher, political theorist, political economist, civil servant and Member of Parliament, was an influential liberal thinker of the 19th century whose works on liberty justified freedom of the individual in opposition to unlimited state control...
(1806–1873); French economist and free trade advocate
Jean-Baptiste SayJean-Baptiste Say was a French economist and businessman. He had classically liberal views and argued in favour of competition, free trade, and lifting restraints on business. He originated Say's law, which is often quoted as "supply creates its own demand".-Biography:J. B. Say was born in Lyon...
(1767–1832); Prussian philosopher, political economist, and revolutionary
Karl MarxKarl Heinrich Marx was a Germanphilosopher, political economist, historian, political theorist, sociologist, communist and revolutionary, whose ideas are credited as the foundation of modern communism...
(1818–1883); French classical liberal theorist and political economist,
Frédéric BastiatClaude Frédéric Bastiat was a French classical liberal theorist, political economist, and member of the French assembly.-Biography:...
(1801–1850); and English economist and logician
William Stanley JevonsWilliam Stanley Jevons was an English economist and logician. His book The Theory of Political Economy expounded upon the "final" utility theory of value...
(1835-1882).
Founders of important economic concepts who were alive during the 20th century include the Austrian economist
Eugen von Böhm-BawerkEugen Ritter von Böhm-Bawerk was an Austrian economist who made important contributions to the development of Austrian economics. Trained in the University of Vienna as a lawyer where he read Carl Menger's Principles of Economics. Though he never studied under Menger, he quickly became an...
(1851–1914); the founder of the
Austrian SchoolThe Austrian School is a school of economic thought that emphasizes the spontaneous organizing power of the price mechanism or price system...
of economics,
Carl MengerCarl Menger was the founder of the Austrian School of economics, famous for contributing to the development of the theory of marginal utility that refuted the cost-of-production theories of value developed by the classical economists such as Adam Smith and David Ricardo.Menger was born in Nowy...
(1840–1921); British economist, developer of
Keynesian economicsKeynesian economics is a macroeconomic theory based on the ideas of 20th-century British economist John Maynard Keynes...
, and influential founders of modern theoretical
macroeconomicsMacroeconomics is a branch of economics that deals with the performance, structure, and behavior of a national or regional economy as a whole. Along with microeconomics, macroeconomics is one of the two most general fields in economics. It is the study of the behavior and decision-making of entire...
John Maynard KeynesJohn Maynard Keynes, 1st Baron Keynes, CB was a British economist whose ideas have been a central influence on modern macroeconomics, both in theory and practice...
(1883–1946); American economist, health campaigner, and eugenicist
Irving FisherIrving Fisher was an American economist, health campaigner, and eugenicist, and one of the earliest American neoclassical economists and, although he was perhaps the first celebrity economist, his reputation today is probably higher than it was in his lifetime...
(1867-1947); German economist and proponent of the
social market economyThe social market economy is the main economic model used in West Germany after World War II. It is based on the political philosophy of Ordoliberalism from the Freiburg School...
,
Wilhelm RöpkeWilhelm Röpke was one of the most important spiritual fathers of the German social market economy....
(1899-1966); Canadian-american economist, popularizer of economics
John Kenneth GalbraithJohn Kenneth "Ken" Galbraith, OC was a Canadian-American economist. He was a Keynesian and an institutionalist, a leading proponent of 20th-century American liberalism and progressivism...
(1908-2006); American economist, Nobel Prize Laureate and proponent of the
Tobit modelThe Tobit Model is an econometric, biometric model proposed by James Tobin to describethe relationship between a non-negative dependent variable and an independent variable .The model supposes that there is a latent...
,
James TobinJames Tobin was an American economist who in his lifetime, had served on the Council of Economic Advisors, the Board of Governors of the Federal Reserve System, and had taught at Harvard and Yale Universities. He developed the ideas of Keynesian economics, and advocated government intervention to...
(1918-2002); Austrian-British member of the Austrian School of economics
Friedrich HayekFriedrich August von Hayek CH , was an Austrian and British economist and philosopher known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. He is considered by some to be one of the most important economists and political philosophers...
(1899-1992); and American economist, public intellectual, and
laissez-faire capitalismThe general meaning of Laissez-faire is to allow events to take their own course, or to let people do what they choose. The term is a French phrase literally meaning "let it be" or "leave it alone"....
advocate
Milton FriedmanMilton Friedman was an American economist, statistician and public intellectual, and a recipient of the Nobel Memorial Prize in Economics...
(1912–2006).
Current well-known American economists include 2008
Nobel Memorial Prize in Economic SciencesThe Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics , is an award for outstanding contributions to the science of economics and is generally considered one of the most prestigious awards for that science. The official name is the Sveriges Riksbank...
winner
Paul KrugmanPaul Robin Krugman is an American economist, liberal columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist...
, a public intellectual, advocate of modern liberal policies, known for his descriptions of rising inequality;
Jeffrey SachsJeffrey David Sachs is an American economist and Director of the Earth Institute at Columbia University...
, former
United NationsThe United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and the achieving of world peace...
economic adviser to the Secretary-General, author of
The End of PovertyThe End of Poverty: Economic Possibilities for Our Time is a 2005 book by American economist Jeffrey Sachs. It was a New York Times bestseller....
and architect of
shock therapyIn economics, shock therapy refers to the sudden release of price and currency controls, withdrawal of state subsidies, and immediate trade liberalization within a country, usually also including large scale privatization of previously public owned assets...
throughout poor countries ;
Alan GreenspanAlan Greenspan is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC...
, the former
chairmanThe Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chair" or "Fed Chief"...
of the
Federal ReserveThe Federal Reserve System is the central banking system of the United States. It was created in 1913 by the enactment of the Federal Reserve Act, largely as a response to a series of financial panics or bank runs, particularly a severe panic in 1907...
; ; and American economist,
Nobel Memorial Prize in EconomicsThe Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics , is an award for outstanding contributions to the science of economics and is generally considered one of the most prestigious awards for that science. The official name is the Sveriges Riksbank...
, critic of the
governanceGovernance relates to decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes...
of
globalizationGlobalization describes an ongoing process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of communication and exchange....
, Chief Economist of the
World BankThe World Bank is an international financial institution that provides leveraged loans to poorer countries for capital programs, tied to neoliberal market restructurings...
, Joseph Stiglitz.
See also
- Chief economist
The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis...
- List of economists
- World Bank Chief Economist
The position of World Bank Chief Economist is one of the most influential in economics. The full title is Senior Vice President, Development Economics, and Chief Economist. The chief economist provides intellectual leadership and direction to the Bank’s overall development strategy and economic...