Foreclosure Crisis and Innovative Policy Responses: A Constructive Critique

Rojhat Avsar

Journal of Economic Issues, 2014, vol. 48, issue 1, 155-168

Abstract: This paper deals with the moral justification behind policy positions. Squeezed between the inevitability of having a welfare ideology and the mantra of value-neutrality (depoliticization), neoclassical policy economists tend to disguise their normative positions on policy matters as common sense. This attitude is particularly pronounced in what I will call "the rhetoric of worthiness," whereby the neoclassical approach justifies its advocacy that certain people should not be helped. This normative position is disguised by a vocabulary (e.g., moral hazard) claimed to be politically neutral. The present paper criticizes this neoclassical mode of policy evaluation in favor of a more socially conscious and innovative policy approach.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:48:y:2014:i:1:p:155-168

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DOI: 10.2753/JEI0021-3624480107

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