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LSE professor awarded Leontief Prize 2008

Professor Robert Wade|, professor of political economy and development at LSE, has been jointly awarded the 2008 Leontief Prize for Advancing the Frontiers of Economic Thought.

The prize, awarded by Tufts University's Global Development and Environment Institute, is in honour of Wassily Leontief, Nobel Prize winner in economics, for his work on the structure of economies and its effects on growth and inequality.

Professor Wade said: 'Studying economics in remote New Zealand in the 1960s I was intrigued by Leontief's approach, much more interesting than the dreary microeconomic textbooks. I am delighted (not to mention surprised, since I later switched to a PhD in anthropology rather than economics) to have my writings recognized by a prize named in his honour.'

Professor Wade shares the award with José Antonio Ocampo, the celebrated Latin American economist now at Columbia University and formerly deputy secretary-general of the UN.

GDAE co-director Neva Goodwin said: 'José Antonio Ocampo and Robert Wade are among the most creative economic thinkers, combining rigorous analysis with empirically grounded research.  Each of them is laying critical pieces of the groundwork that's needed for solving global problems in ways that will genuinely improve the lives of the world's poor majority.'

'Professor Wade has made seminal contributions to several fields of study. His book Governing the Market, on the state's role in East Asian development, won the American Political Science Association's prize for Best Book in Political Economy. His Village Republics: economic conditions for collective action in South India, showed that the tragedy of the commons does not always hold true and that collective action can be an alternative to privatization and state control in the management of common property resources. More recently he has emerged as a leading critic of the view that globalization reduces global inequality and global poverty, and a leading contributor to rethinking development policy and the international policy framework.'

Earlier winners of the Leontief Prize include J K Galbraith, Amartya Sen, Sam Bowles, Robert Frank, Paul Streeten, Juliet Schor, Herman Daly, Richard Nelson and Dani Rodrik.

The award ceremony will take place November 17 at Tufts University and will feature lectures by the prize winners on the topic, Beyond the Washington Consensus: new visions for trade and development.

28 February 2008