[W] Global Political Economy

Coordinators: Hardy Hanappi
Vienna University of Technology, Austria
Claude Serfati
Universite de Saint-Quentin-en-Yvelines, France

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The world economy is characterized by a rapid intensification of interdependencies. Nation states develop into continental blocks, economic and political motives of actors and coalitions of actors in the global interplay can rarely be distinguished. In this global political economy, the role of economic policy – traditionally bound to measures of fiscal and monetary policy at the national level – has to be redefined and re-designed. The task of the research area W thus is to provide a research arena for the discussion of global economic policy; it aims for evolutionary economic policy in the sense of debating the framework within which rule systems can experience evolution. The major global crises of recent years – finance, migration, pandemic, climate – have shown that what is needed are global answers, which in turn needs powerful global governance. Instead of autocratic national leaders, which all too often emerge these days, it now needs an enforced development of democratic mechanisms on a global level. This research area shall foster scientific cooperation in that field.