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You Huiyang & Luo Zhihong: The Monopoly of American Economics Ideology from Nobel Memorial Prize in Economic Science
     Release time: 2025-11-14

  Abstract 

  Since the establishment of the Nobel Memorial Prize in Economic Science, there has been constant controversy. An “American Economics Circle” has basically monopolized this prize. Since the beginning of the 2st century, the degree of monopoly has increased. Foreign scholars who received their academic education or conducted academic research in the United States (comprising with Us born economists members of an “American Economics Circle) may be eligible for this award. One may conclude that the Nobel Prize in Economics has become the “American Prize in Economics.” In this paper, we describe how world centre of economics research moved from Europe to the United States, and analyze the historical process of change from a situation of relative divergence to highly concentrated. We reveal how the United States monopolised economics research, and identify varieties of mainstream economics cloaked in scientific garb. Then we look ahead to the future of economics in China. 

    

  Keywords 

  Nobel Prize in Economics; American Economics; Economic Ideology; Chinese Economics 

    

  From: World Marxist Review 2025 2 (3) 

  Editor: Wang Yi 

    

    

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