The Diminishing Returns of Crisis: Policymaking in an Era of Uncertainty
Posted: 29 Mar 2010
Abstract
This paper examines policy development in the context of crisis. Authors like Higgs have suggested that a ratchet effect marks the effects of crisis on the growth of government; but not all crises are created equal. This paper examines the circumstances that led to a radical reorientation of trade policy during the 1930s as an archetype for the power of crisis and then evaluates whether subsequent crises have provided similar or reduced opportunities for substantial policy change. I discuss what it would take for contemporary political entrepreneurs to achieve policy reforms on the scale of the New Deal.
Suggested Citation: Suggested Citation
Young, McGee, The Diminishing Returns of Crisis: Policymaking in an Era of Uncertainty. Western Political Science Association 2010 Annual Meeting Paper , Available at SSRN: https://ssrn.com/abstract=1580864
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