Explaining Crises: Ideas, Instability and Change from Gold Standard to GFC

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This project aims to explain recurring international economic instability. While global orders spanning the Classical Gold Standard, Keynesian Bretton Woods institutions, and contemporary Neoliberal order each provided key sources of stability, each also yielded to crises in the 1930s Great Depression, the 1970s Great Stagflation, and the Global Financial Crisis. To explain such instability, this project advances an innovative constructivist argument that ideas which initially enable policymakers to restrain market excesses can over time obscure new sources of instability. Over case studies of these crises, this project will produce high quality publications and contribute to debate over national interests in an era of populist challenge.