IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Framing the Economic Policy Debate

Listed author(s):
  • David Colander

Economists' current market failure policy frame provides a powerful lens through which to view the world and organize one's thoughts about policy. It is not the only, or most natural, frame through which to view policy, and it evolved from a broader classical policy frame as the analytic technology changed to allow an exploration of Walrasian general equilibrium analysis with a unique equilibrium and simple dynamics. That analytic technology is changing, and new analytic technologies are allowing economists to explore multiple equilibria, complex dynamic general models, in which policy issues that the Walrasian general equilibrium model does not address can be addressed. These include issues such as toward which basin of attraction the economy will gravitate and how government policy might influence that gravitation. Similarly, new computational technology is allowing economists to explore pattern-matching data models, agent-based models, network models, and epistemic game-theoretical models in which multiple social dimensions can be analyzed simultaneously. This article discusses how this changing analytic technology is opening up the possibility for movement away from the market failure policy frame.

If 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.

File URL:
File Function: link to full text
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Duke University Press in its journal History of Political Economy.

Volume (Year): 47 (2015)
Issue (Month): 5 (Supplement)
Pages: 253-266

in new window

Handle: RePEc:hop:hopeec:v:47:y:2015:i:5:p:253-266
Contact details of provider: Postal:
Duke University Press 905 W. Main Street, Suite 18B Durham, NC 27701

Phone: (919) 660-1800
Fax: (919) 684-8974
Web page:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:hop:hopeec:v:47:y:2015:i:5:p:253-266. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Center for the History of Political Economy Webmaster)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.