Economic Crises and Policy Regimes: The Dynamics of Policy Innovation and Paradigmatic Change

点击翻译按钮获取中文摘要

For more than two decades, citizens in developed countries have witnessed massive job losses, lowered wages, slow economic growth and widening inequality under a neoliberal policy regime that has placed heavy constraints on policy choices. The project has explored, both theoretically and empirically, the possibility of transition to a new political economic paradigm by seeking feasible answers to questions such as: why has such a regime persisted for a long period of time despite its pool policy performance?; is it possible for democracy to overcome economic crisis through its electoral mechanisms?; and, under what conditions can each government convert crisis of its economy into growth? The project brought together an international expert team to explore both the possibilities and difficulties of transitioning from a neoliberal policy regime to an alternative regime through drastic policy innovations.