Positive Economics for Democratic Policy

Stapleford, Thomas A.

doi:10.1017/cbo9781139004077.005

Cited by 9 publications

(2 citation statements)

References 27 publications

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“…Whether or not the Chicago School thereby also parted ways with what Sinn has called "original neoliberalism" is perhaps a question of interpretation, but since they nonetheless remained committed to the use of strong states in service of market mechanisms, I would argue against it. As economists working within the neoclassical mainstream, Chicago School economists, almost by definition, accepted an important role for the state in managing the economy, and Friedman saw economics as an empirical science in the service of policy-making (Stapleford 2011). As mentioned, most iterations of Friedman's famous monetarist doctrine, for instance, would naturally presuppose a state actually regulating the money supply (although Friedman himself supposedly thought a mathematical equation could do the job) (Friedman 1962).…”

Section: Using the State Without Antitrustmentioning

confidence: 99%

Dual Argument, Double Truth: On the Continued Importance of the State in Neoliberal Thought

Innset

2023

J Hist Econ Thought

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It has been established that the neoliberal creed arising in the interwar and early postwar years, despite its strong rejection of economic planning, also entailed a rejection of laissez-faire liberalism. This article argues that recent attempts at construing early neoliberalism as thus being a more nuanced or moderate creed than later iterations are nonetheless flawed. The “dual argument” of early neoliberalism indicated a new approach to market liberalism in which the state was not seen as the market’s opposite but rather its precondition. This important move is obscured by the language of moderation and nuance. In place of “the radicalization thesis,” the second part of the article considers Philip Mirowski’s concept of a “double-truth doctrine” and argues that an appreciation of the state for social and economic governance is a common feature of different neoliberalisms, which nonetheless differ in their preferred policy suggestions for the use of state power.

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Section: Using the State Without Antitrustmentioning

confidence: 99%

Dual Argument, Double Truth: On the Continued Importance of the State in Neoliberal Thought

Innset

2023

J Hist Econ Thought

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“…German As economists working within the neoclassical mainstream, Chicago school economists almost by definition, accepted an important role for the state in managing the economy, and Friedman saw economics as an empirical science in the service of policymaking. (Stapleford 2011) As mentioned, most iterations of Friedman's famous monetarist doctrine, for instance, would naturally 15 It would be imprecise to label all forms of public choice theory as "neoliberal", but most forms do grow out of the works of MPS president James Buchanan. (Johnson et al 2021) 16 Some of the best examples of this are to be found in Mirowski's own writings, but see also other quoted works including but not limited to (Gamble 1996;Gray 2010;Peck 2010;Harcourt 2011;Bonefeld 2017;Slobodian 2018) presuppose a state actually regulating the money supply (all though Friedman himself supposedly thought a mathematical equation could do the job) (Friedman 1962).…”

Section: Using the State Without Antitrustmentioning

confidence: 99%

Dual Argument, Double Truth: On the continued importance of the state in neoliberal thought

Innset¹

2023

Preprint

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It has been established that the neoliberal creed arising in the interwar- and early postwar years, despite its strong rejection of economic planning, also entailed a rejection of laissez-faire liberalism. This article argues that recent attempts at construing early neoliberalism as thus being a more nuanced or moderate creed than later iterations, are nonetheless flawed. The Dual Argument of early neoliberalism indicated a new approach to market liberalism in which the state was not seen as the market’s opposite, but rather its precondition. This important move is obscured by the language of moderation and nuance. In place of “the radicalization thesis”, the second part of the article considers Philip Mirowski’s concept of a “double truth-doctrine” and argues that the importance of the state for social and economic governance is a common feature of different neoliberalisms, which nonetheless differ in their preferred policy-suggestions for the use of state power.

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Cycles of polarization and settlement: diffusion and transformation in the macroeconomic policy field

Gunten

2015

Theor Soc

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Innovative theories and policy proposals originating in the economics profession have diffused globally over the past several decades, but these models and policy programs are transformed as they spread. Existing models of change based on the concept of "paradigm shifts" capture the transformation of the economics profession at a high level of abstraction, but analysis of more concrete policy changes and associated ideas requires developing theory at a lower level of abstraction. I propose field theoretical model of change based on the concept of cycles of polarization and settlement. According to this model, settlements are characterized by multiple cross-cutting axes of competition and debate in a professional field. Moments of contention emerge when field entrepreneurs successfully build professional movements, resulting in polarization. However, contention is episodic and followed by the emergence of "centripetal forces" which lead a gradual return to the center. I develop this model by examining the case of monetary economics and policy in Latin America, a critical case for studies of the policy influence of economic ideas and experts.

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Positive Economics for Democratic Policy

Cited by 9 publications

References 27 publications

Dual Argument, Double Truth: On the Continued Importance of the State in Neoliberal Thought

Dual Argument, Double Truth: On the Continued Importance of the State in Neoliberal Thought

Dual Argument, Double Truth: On the continued importance of the state in neoliberal thought

Cycles of polarization and settlement: diffusion and transformation in the macroeconomic policy field

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