Economist in the context of Angus Maddison

Liberalism is a political and moral philosophy based on the rights of the individual, liberty, consent of the governed, political equality, right to private property, and equality before the law. Liberals espouse various and sometimes conflicting views depending on their understanding of these principles but generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of the press, freedom of assembly, and freedom of religion. Liberalism is frequently cited as the dominant ideology of modern history.

Liberalism became a distinct movement in the Age of Enlightenment, gaining popularity among Western philosophers and economists. Liberalism sought to replace the norms of hereditary privilege, state religion, absolute monarchy, the divine right of kings and traditional conservatism with representative democracy, rule of law, and equality under the law. Liberals also ended mercantilist policies, royal monopolies, and other trade barriers, instead promoting free trade and marketization. The philosopher John Locke is often credited with founding liberalism as a distinct tradition based on the social contract, arguing that each man has a natural right to life, liberty and property, and governments must not violate these rights. While the British liberal tradition emphasized expanding democracy, French liberalism emphasized rejecting authoritarianism and is linked to nation-building.

BRICS is an intergovernmental organization comprising ten countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and the United Arab Emirates. Its conceptual origins were articulated by Russian foreign minister Yevgeny Primakov in 1998, and can be traced to informal forums and dialogue groups such as RIC (Russia, India, and China) and IBSA (India, Brazil, and South Africa). BRIC was originally a term coined by British economist Jim O'Neill, and later championed by his employer Goldman Sachs in 2001, to designate a group of emerging markets.

The bloc's inaugural summit was held in 2009 and featured the founding countries of Brazil, Russia, India, and China; they adopted the acronym BRIC and formed an informal diplomatic club where their governments could meet annually at formal summits and coordinate multilateral policies. South Africa joined the organization in September 2010, which was then renamed BRICS, and attended the third summit in 2011 as a full member. Iran, Egypt, Ethiopia, and the United Arab Emirates attended their first summit as member states in 2024 in Russia. Indonesia officially joined in early 2025, becoming the first Southeast Asian member. The acronym BRICS+ or BRICS Plus has been informally used to reflect new membership since 2024.

In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common. Economic thought may be roughly divided into three phases: premodern (Greco-Roman, Indian, Persian, Islamic, and Imperial Chinese), early modern (mercantilist, physiocrats) and modern (beginning with Adam Smith and classical economics in the late 18th century, and Karl Marx and Friedrich Engels' Marxian economics in the mid 19th century). Systematic economic theory has been developed primarily since the beginning of what is termed the modern era.

Currently, the great majority of economists follow an approach referred to as mainstream economics (sometimes called 'orthodox economics'). Economists generally specialize into either macroeconomics, broadly on the general scope of the economy as a whole, or microeconomics, on specific markets or actors.

Henri Hauser (19 July 1866 – 27 May 1946) was a French historian, geographer, and economist. A pioneer in the study of the economic history of the early modern period, he also wrote on contemporary economic issues and held the first chair in economic history to be established at a French university.

He was born in Oran into a middle-class Jewish family who had moved to French Algeria for health reasons but returned to France when Hauser was four years old. Hauser was educated at the Lycée Condorcet in Paris and then at the École Normale Supérieure where he came first in both the entrance and leaving examinations. He initially taught in provincial lycées before taking his doctorate in 1892 with a thesis on the 16th-century Huguenot leader, François de la Noue. Hauser went on to become a professor of ancient and medieval history at the University of Clermont-Ferrand, modern history and geography at the University of Dijon, and finally a professor of history and economic history at the Sorbonne from 1919 to 1936. His 1905 book L'impérialisme américain predicted the decline of Europe and the dominance of the United States, while his 1915 Méthodes allemandes d'expansion économique analyzed the role played by German industry in the outbreak of World War I. Hauser was awarded the Legion of Honor in 1919 and in 1945 the Académie française awarded him the Prix de l'Académie for his life's work.

The Road to Serfdom is a book by the Austrian-British economist and philosopher Friedrich Hayek. In the book, Hayek "[warns] of the danger of tyranny that inevitably results from government control of economic decision-making through central planning." He further argues that the abandonment of individualism and classical liberalism inevitably leads to a loss of freedom, the creation of an oppressive society, the tyranny of a dictator, and the serfdom of the individual. Hayek challenged the view, popular among British Marxists, that fascism (including Nazism) was a capitalist reaction against socialism. He argued that fascism, Nazism, and state-socialism had common roots in central economic planning and empowering the state over the individual.

Since its publication in 1944, The Road to Serfdom has been popular among liberal (especially classical liberal) and conservative thinkers. It has been translated into more than 20 languages and sold over two million copies (as of 2010). The book was first published in Britain by Routledge in March 1944, during World War II, and was quite popular, leading Hayek to call it "that unobtainable book", also due in part to wartime paper rationing. It was published in the United States by the University of Chicago Press in September 1944 and achieved great popularity. At the arrangement of editor Max Eastman, the American magazine Reader's Digest published an abridged version in April 1945, enabling The Road to Serfdom to reach a wider non-academic audience.

Mahdi Elmandjra (Arabic: مهدي المنجرة‎; 13 March 1933 – 13 June 2014) was a Moroccan futurologist, economist and sociologist. He is one of the founders of the International Federation for Future Studies (Futuribles). He predicted a number of events, the most important of which was the clash of civilisations in his book "The first civilisation war" in 1992, that is, before Samuel Huntington, who used the same concept in his book "The clash of civilisations" issued in 1996. Mahdi Elmandjra also predicted the occurrence of the "Arab Spring", which he referred to in his writings under the name of "Intifada".

Thomas Robert Malthus FRS (/ˈmælθəs/; 13/14 February 1766 – 29 December 1834) was an English economist, cleric, and scholar influential in the fields of political economy and demography.

In his 1798 book An Essay on the Principle of Population, Malthus observed that an increase in a nation's food production improved the well-being of the population, but the improvement was temporary because it led to population growth, which in turn restored the original per capita production level. In other words, humans had a propensity to use abundance for population growth rather than for maintaining a high standard of living, a view and stance that has become known as the "Malthusian trap" or the "Malthusian spectre". Populations had a tendency to grow until the lower class suffered hardship, want, and greater susceptibility to war, famine, and disease, a pessimistic view that is sometimes referred to as a Malthusian catastrophe. Malthus wrote in opposition to the popular view in 18th-century Europe that saw society as improving and in principle as perfectible.

Lionel Charles Robbins, Baron Robbins, CH, CB, FBA (22 November 1898 – 15 May 1984) was a British economist, and prominent member of the economics department at the London School of Economics (LSE). He is known for his leadership at LSE, his proposed definition of economics, and for his instrumental efforts in shifting Anglo-Saxon economics from its Marshallian direction. He is famous for the quote, "Humans want what they can't have."

Camillo Paolo Filippo Giulio Benso, Count of Cavour, Isolabella and Leri (Italian: [kaˈmillo ˈbɛnso]; 10 August 1810 – 6 June 1861), generally known as the Count of Cavour (/kəˈvʊər/ kə-VOOR; Italian: Conte di Cavour [ˈkonte di kaˈvur]) or simply Cavour, was an Italian politician, statesman, businessman, economist, and noble, and a leading figure in the movement towards Italian unification. He was one of the leaders of the Historical Right and Prime Minister of the Kingdom of Sardinia from 1852, a position he maintained (except for a six-month resignation) until his death, throughout the Second Italian War of Independence and Giuseppe Garibaldi's campaigns to unite Italy. After the declaration of a united Kingdom of Italy, Cavour took office as the first Prime Minister of Italy; he died after only three months in office and did not live to see the Roman Question solved through the complete unification of the country after the Capture of Rome in 1870.

Cavour put forth several economic reforms in his native region of Piedmont, at that time part of the Kingdom of Sardinia, in his earlier years and founded the political newspaper Il Risorgimento. After being elected to the Chamber of Deputies, he quickly rose in rank through the Piedmontese government, coming to dominate the Chamber of Deputies through a union of centre-left and centre-right politicians. After a large rail system expansion program, Cavour became prime minister in 1852. As prime minister, Cavour successfully negotiated Piedmont's way through the Crimean War, the Second Italian War of Independence, and Garibaldi's Expedition of the Thousand, managing to manoeuvre Piedmont diplomatically to become a new great power in Europe, controlling a nearly united Italy that was five times as large as Piedmont had been before he came to power.

In welfare economics and social choice theory, a social welfare function—also called a social ordering, ranking, utility, or choice function—is a function that ranks a set of social states by their desirability. Each person's preferences are combined in some way to determine which outcome is considered better by society as a whole. It can be viewed as mathematically formalizing Rousseau's idea of a general will.

Social welfare functions are studied by economists as a way to identify socially optimal decisions, giving a procedure to rigorously define which of two outcomes should be considered better for society as a whole (e.g., to compare two different possible income distributions). They are also used by democratic governments to choose between several options in elections, based on the preferences of voters; in this context, a social choice function is typically referred to as an electoral system.

Carlos Salinas de Gortari (Spanish pronunciation: [ˈkaɾlos saˈlinas ðe ɣoɾˈtaɾi]; born 3 April 1948) is a Mexican economist, historian and former politician who served as the 60th president of Mexico from 1988 to 1994. He is considered the frontman of Mexican Neoliberalism, responsible for formulating, promoting, signing and implementing the North American Free Trade Agreement. Affiliated with the Institutional Revolutionary Party (PRI), earlier in his career he worked in the Secretariat of Programming and Budget, eventually becoming Secretary. He secured the party's nomination for the 1988 general election and was elected amid widespread accusations of electoral fraud.

An economist, Salinas de Gortari was the first Mexican president since 1946 who was not a law graduate. His presidency was characterized by the entrenchment of the neoliberal, free trade economic policies initiated by his predecessor Miguel de la Madrid in observance of the Washington Consensus, mass privatizations of state-run companies and the reprivatization of the banks, Mexico's entry into NAFTA, negotiations with the right-wing opposition party PAN to recognize their victories in state and local elections in exchange for supporting Salinas' policies, normalization of relations with the Catholic clergy, and the adoption of a new currency. From the beginning of his administration, Salinas de Gortari was criticized by the Mexican left, who considered him an illegitimate president whose neoliberal policies led to higher unemployment and were perceived as giving away the wealth of the nation to foreign ownership, whereas he was praised by the right wing and the international community, who considered him a leading figure of globalization and credited him with modernizing the country. Salinas was also backed by the United States government in his bid for Director-General of the newly created World Trade Organization (WTO).

James Gardner March (January 15, 1928 – September 27, 2018) was an American political scientist, sociologist, and economist. A professor at Stanford University in the Stanford Graduate School of Business and Stanford Graduate School of Education, he is best known for his research on organizations, his (jointly with Richard Cyert) seminal work on A Behavioral Theory of the Firm, and the organizational decision making model known as the Garbage Can Model.

Terence James O'Neill, Baron O'Neill of Gatley (born 17 March 1957) is a British economist best known for coining BRIC, the acronym that stands for Brazil, Russia, India, and China—the four once-rapidly developing countries that he predicted would challenge the global economic power of the developed G7 economies. He is also a former chairman of Goldman Sachs Asset Management and former Conservative government minister.

O'Neill was Commercial Secretary to the Treasury in the Second Cameron Ministry from May 2015 to September 2016. He chaired the UK's Independent Review into Antimicrobial Resistance from 2014 to 2016. He was the chairman of the Council of Chatham House, the Royal Institute of International Affairs from 2018 to 2021.

Max Roser (born 1983) is an economist and philosopher who focuses on large global problems such as poverty, disease, hunger, climate change, war, existential risks, and inequality.

Roser is a professor at the University of Oxford, where he directs the program on global development, based at the Oxford Martin School. He is the founder and director of the research publication Our World in Data.

The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle-income country is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than that of other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society.

Theotônio dos Santos Junior (11 November 1936 in Carangola – 27 February 2018 in Rio de Janeiro) was a Brazilian economist. He was one of the formulators of the Dependency Theory and supported the World-System theory.

Dos Santos had a bachelor's degree in sociology and politics in public administration from the Federal University of Minas Gerais and a master's degree in political science from the University of Brasília. He received the title of notório saber (equivalent to a doctorate) in economics from the Federal University of Minas Gerais and the Fluminense Federal University, at the latter of which he was Professor Emeritus. He coordinated for both the UNESCO Chair in Cultural Policies and Cooperation and the United Nations University in global economy and sustainable development.