In the 1980s, Giersch divided the world into advanced innovative (Schumpeterian) regions—at the time US and Japan—and less developed Schumpeterian regions like Taiwan and Singapore, and advanced Keynesian and less developed Keynesian regions, which hampered entrepreneurship. Additional regions were categorized as Ricardian, Malthusian, or Marxist.

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 302