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Designing the Strategies for Socio-Economic Development: Science vs. Ideology

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  • Polterovich, V.

    (Central Economics and Mathematics Institute, Russian Academy of Sciences, Moscow, Russia
    MV Lomonosov Moscow State University, Moscow School of Economics, Moscow, Russia)

Abstract

Strategies for socio-economic development in "catching-up" countries are designed on the basis of ideologies dominated in the society and, as a rule, fail. Until recently, economic science could not offer an alternative basis for designing strategies, but over the past twenty years the situation has changed. Nevertheless, scientific results are still weakly demanded by society. In this paper, the conflict between economics and dominant ideology is explored. On the one hand, ideology restrains the development of scientific research, and on the other hand it is changing under its influence. However, these changes are very slow for a number of reasons, analyzed in the paper. Ideology is inevitably connected with the interests of economic agents. The old elite prevents the emergence of a new ideology, since new concepts reveal the mistakes of past projects. In addition, the implementation of new ideas may require institutional changes that weaken the power of existing high-ranking officials. Meanwhile, in modern societies there are no regular mechanisms providing such transformations, and the probability of rational volitional decisions, which confront the dominant ideology, is small.

Suggested Citation

  • Polterovich, V., 2017. "Designing the Strategies for Socio-Economic Development: Science vs. Ideology," Journal of the New Economic Association, New Economic Association, vol. 35(3), pages 198-206.
    • Handle: RePEc:nea:journl:y:2017:i:35:p:198-206
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    References listed on IDEAS

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    4. Hausman,Daniel M., 2008. "The Philosophy of Economics," Cambridge Books, Cambridge University Press, number 9780521883504.
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    Cited by:

    1. Victor Polterovich, 2018. "Towards a general theory of social and economic development: Evolution of coordination mechanisms," Russian Journal of Economics, ARPHA Platform, vol. 4(4), pages 346-385, December.

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    More about this item

    Keywords

    catching-up development; radicalism; Washington Consensus; gradualism; institutional reform; interim institution;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O29 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Other
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform

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