How do political environments influence the behavior of economists who transition from academic and business environments to policymaking positions? And, more specifically, are an economist's preexisting beliefs and principles congruent with their policy stances and actions once they transition...

The New Austrian (also called Neo-Mengerian) paradigm emphasizes the importance of nonequilibrium and emergent processes in explaining the social world. In this paper I analyze macroeconomic policy from a New Austrian perspective. I define macroeconomic policy broadly, encompassing not only...