In design, New Wave refers to an approach to typography

Typography

Typography is the art and technique of arranging type in order to make language visible. The arrangement of type involves the selection of typefaces, point size, line length, leading , adjusting the spaces between groups of letters and adjusting the space between pairs of letters...

 that actively defies strict grid-based arrangement conventions. Characteristics include inconsistent letterspacing, varying typeweights within single words and type set at unusual angles. http://www.aiga.org/content.cfm?contentalias=AprilGreiman

Credit for the introduction of New Wave design is given to Wolfgang Weingart

Wolfgang Weingart

Wolfgang Weingart is an internationally known graphic designer and typographer. His work is categorized as Swiss typography and he is credited as "the father" of New Wave or Swiss Punk typography....

. April Greiman

April Greiman

April Greiman is a contemporary designer. "Recognized as one of the first designers to embrace computer technology as a design tool, Greiman is also credited, along with early collaborator Jayme Odgers, with establishing the ‘New Wave’ design style in the US during the late 70s and early...

is credited for popularizing it in the United States.