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Social Policy in Challenging TimesEconomic Crisis and Welfare Systems$
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Kevin Farnsworth and Zoe Irving

Print publication date: 2011

Print ISBN-13: 9781847428288

Published to Policy Press Scholarship Online: May 2012

DOI: 10.1332/policypress/9781847428288.001.0001

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The economic crisis and paradigm change

The economic crisis and paradigm change

Chapter:
(p.31) Two The economic crisis and paradigm change
Source:
Social Policy in Challenging Times
Author(s):

Michael Hill

Publisher:
Policy Press
DOI:10.1332/policypress/9781847428288.003.0002

This chapter explores the extent to which the crisis led, or could be expected to lead, to significant policy change, by comparing it with the events that brought in the Keynesian approach to economic management in the 1930s and 1940s and those that led to its abandonment in the 1970s and 1980s. To do this, ideas about the nature and causes of paradigm changes in public policy are used, leading on to questions about the likely political responses within and between nations. The chapter highlights, on the one hand, the political forces that seem to be contributing to a minimal response to the current situation, and on the other, the global features which suggest that such responses will be inadequate in the long run.

Keywords:   economic crisis, paradigm change, Keynesianism, crisis of capitalism, political market place

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