Doublethink

Steven Rosefielde and Daniel Quinn Mills

Chapter 13 in Global Economic Turmoil and the Public Good, 2015, pp 145-148 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Doublethinking (now sometimes called “motivated blindness”) makes pipe dream policy-making nearly impervious to rational critique and empirical disconfirmation, providing yet another barrier to overcoming secular stagnation and averting crises. People infected with doublethink often fall victim to pipe dreams even if they distain them. Worse still savvy professionals who appreciate the irony of the situation, nonetheless succumb to a subtler form of doublethinking by insisting that acting on false premises does not matter because everything will turn out for the best…

Keywords: Global Economic Crisis; Global Financial Crisis; Crisis Prevention; Global Economic Sclerosis; European Union; Monetary Union; Fiscal Union; United States; China; India; Japan; Monetary Policy; Keynesianism; Central Banking; Fiscal Policy (search for similar items in EconPapers)
Date: 2015
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