Economic Theory and Policies: The Inheritance of the Recent Past

Nicola Acocella ()

Rivista di storia economica, 2013, issue 2, 223-248

Abstract: This essay investigates the interrelationships between the evolution ofeconomic thought and policy action after WWII, which are characterizedby hysteresis and asymmetry in the application of theoretical innovations.The paper points out some possible explanations of the swift applicationof the theories developed in the Seventies, contrasting with the lags inthe acceptance of further developments largely critical of the previoustheories.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:mul:jrkmxm:doi:10.1410/74195:y:2013:i:2:p:223-248

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