This paper aims to explore and analyse factors that hinder policy success in Zimbabwe. The paper discusses the nature of policy formulation, policy support and usefulness of joint policy formulation in Zimbabwe. A critical analysis of the current economic policy in Zimbabwe scheduled to...

This paper discusses the development of Keynes's ideas about monetary theory in the context of the consequences of Britain's return to the gold standard (opposed by Keynes) in 1925 and his initial unsuccessful attempt to develop a comprehensive theory of macroeconomic fluctuations in his...

This paper compares the interconnections between dominant economic thought and processes of policy-making in the area of labour market reforms in Germany in the late 1960s and the early 2000s. The transition in labour market policies in this period could be described as a change from an active...

This paper reconstructs the economic policy debates in Bulgaria during the Great Depression. The goal is twofold. First, it depicts the development of Bulgarian economic thought in the inter-war period and analyzes its intellectual relationships to the evolution of European (especially...

Mainstream macroeconomic theory understands the economy as a phenomenon tractable by analysis adequately enough to be manageable by macroeconomic policy guided by this analysis. We explore why this epistemological approach of the economy has remained dominant in mainstream economics despite...

The economic role and prospects of Central Asia are still not fully appreciated by the world. Over the last 20 years, the countries of the region have made significant progress in their development, and have far-reaching growth prospects. The region’s GDP has been increasing at an average rate...

The recurrent economic and financial crises expose the state, enterprises, and households to a range of financial risks and negative financial consequences. As a result, governments are seeking the most efficient measures of legal regulation and other measures ensuring financial security in...

Keynesian economics dominated economic thought and macroeconomic policy-making in the 1950s and 1960s. However, the diffusion of Keynesian economics has been uneven. In this paper, we compare the spread of Keynesian economics in two continental European countries: Belgium and Italy. We focus on...

Political economy theory expects that changes in macroeconomic governance are often catalyzed by institutional factors, such as partisanship, elections, or IMF conditionality. I challenge and contextualize this view by incorporating the role of technocratic advisors into a domestic policymaking...

It is shown from empirical data that the Keynesian policy of continual stimulus of the US economy over decades has led to a mountain of debt and a destruction of economic growth. The causal mechanism of how this occurs has been identified. Excessive Keynesian monetary stimulation of aggregate...