We argue that the policy response to the COVID-19 pandemic by all levels of government around the world is not consistent with recommendations from standard welfare economics. Thus, it is important to ask why such policies have been adopted. That opens the door to examining the political economy...

The crisis of economy in Indonesia forces the government to reform its economic development paradigm. The new paradigm development refers to great attention of economic societies such as cooperation. Those involve in the planning of national economic development as well as the planning of...

How does clientelism affect policy-making? Can patrons in government discard groups of clients in order to pursue reforms in conditions of crisis? The article argues that clientelism goes beyond the exchange of votes and may permeate organizations with the capacity for collective action such as...

The Coasean way to deal with the cooperation failure that is implicit in Pareto inefficiency is to remove all possible obstacles to cooperation through the attribution of property rights and the reduction in transaction costs. The relevance of this approach is however undermined by some...

We employ the “social conditions of innovative enterprise” framework to analyze the key determinants of China’s development path from the economic reforms of 1978 to the present. First, we focus on how government investments in human capabilities and physical infrastructure provided...

This short paper considers all possible stakeholders in different stages of a sustainability transition and matches their behavioral features and diversity to policies. This will involve an assessment of potential or expected responses of stakeholders to a range of policy instruments. Following...

This paper uses hysteresis to develop the concept of policy lock-in and lock-out. Policy changes may near-irrevocably change the economy’s structure, thereby changing the distribution of wealth, income and power. That may lock-in policy by changing the political equilibrium. Exit costs that...

This paper explores lock-in and lock-out via economic policy. It argues policy decisions may near-irrevocably change the economy's structure, thereby changing its performance. That causes changed economic outcomes concerning distribution of wealth, income and power, which in turn induces...

The research on the structure of macroeconomic metamodels began in 1976 and included the development of the archetypes, 10-year scenarios and their validation for three periods until the structures were validated. The goal was to find the drivers of economic growth and sustainability. It...

The current state of Chinese privatization remains deeply flawed. While the initial deferral of state-sector privatization in favor of first creating a marketized, non-state sector was, I argue, an economically wise strategy, the government’s current lethargic response toward solving the...