Concensus, Dissensus and Economic Ideas: The Rise and Fall of Keynesianism During the Economic Crisis
AbstractWe provide a very different way to think about how consensus may arise. We deliberately skimp on the micro-processes of persuasion usually emphasized in constructivist accounts, instead highlighting the structural aspects of the cross-national networks through which experts communicate with each other. Specifically, we treat the spread of ideas within the relevant community of experts as a process of contagion, similar in many respects to the spread of an infectious disease. We also examine how such processes may lead to expert dissensus as well as consensus, and how this affects the power of ideas. If ideational consensus plays a key role in underpinning global financial orders, then we need to understand how such consensuses are generated, maintained and challenged. If we wish to understand the current politics of non-consensus, we need to move beyond the existing literature to evaluate the consequences of dissensus for economic order. We provide an account that does both, and, more speculatively, draws general conclusions about the consequences of ideas for international economic orders.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Queensland, School of Economics in its series Risk and Sustainable Management Group Working Papers with number 151527.
Date of creation: 09 Dec 2011
Date of revision:
Keynesianism; Global Financial Crisis; Financial Economics; Public Economics; E5;
Find related papers by JEL classification:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- N. G. Mankiw., 2009.
"The Macroeconomist as Scientist and Engineer,"
N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
- N. Gregory Mankiw, 2006. "The Macroeconomist as Scientist and Engineer," Harvard Institute of Economic Research Working Papers 2121, Harvard - Institute of Economic Research.
- N. Gregory Mankiw, 2006. "The Macroeconomist as Scientist and Engineer," NBER Working Papers 12349, National Bureau of Economic Research, Inc.
- Olivier Blanchard & Giovanni Dell'Ariccia & Paolo Mauro, 2010.
"Rethinking Macroeconomic Policy,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 42(s1), pages 199-215, 09.
- Ana Rute Cardoso & Paulo Guimarães & Klaus F. Zimmermann, 2010.
"Trends in economic research: An international perspective,"
UFAE and IAE Working Papers
832.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Ana Rute Cardoso & Paulo Guimar�es & Klaus F. Zimmermann, 2010. "Trends in Economic Research: An International Perspective," Kyklos, Wiley Blackwell, vol. 63(4), pages 479-494, November.
- Ana Rute Cardoso & Paulo Guimarães & Klaus F. Zimmermann, 2010. "Trends in Economic Research: An International Perspective," Working Papers 463, Barcelona Graduate School of Economics.
- Cardoso, Ana Rute & Guimaraes, Paulo & Zimmermann, Klaus F., 2010. "Trends in Economic Research: An International Perspective," IZA Discussion Papers 4785, Institute for the Study of Labor (IZA).
- Alan S. Blinder, 2004. "The Case Against the Case Against Discretionary Fiscal Policy," Working Papers 102, Princeton University, Department of Economics, Center for Economic Policy Studies..
- Ruggie, John Gerard, 1982. "International regimes, transactions, and change: embedded liberalism in the postwar economic order," International Organization, Cambridge University Press, vol. 36(02), pages 379-415, March.
- Alberto Alesina & Silvia Ardagna, 2010.
"Large Changes in Fiscal Policy: Taxes versus Spending,"
in: Tax Policy and the Economy, Volume 24, pages 35-68
National Bureau of Economic Research, Inc.
- Alberto F. Alesina & Silvia Ardagna, 2009. "Large Changes in Fiscal Policy: Taxes Versus Spending," NBER Working Papers 15438, National Bureau of Economic Research, Inc.
- repec:pri:cepsud:102 is not listed on IDEAS
- Carpenter, R. Charli, 2007. "Studying Issue (Non)-Adoption in Transnational Advocacy Networks," International Organization, Cambridge University Press, vol. 61(03), pages 643-667, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search).
If references are entirely missing, you can add them using this form.