Democratic capitalism in developed countries has been facing an
unprecedented crisis since 2008. Its political manageability is
declining sharply. Both democracy and capitalism now involve
crucial risks that are significantly more serious than those
observed in earlier periods. The notion of policy regimes has
gained new significance in analysing the possibilities for a
post-neoliberal alternative. Policy innovations directed towards an
economic breakthrough require both political leadership and a new
economic theory. The processes of political decision making have
become quite distant from the public realm, and a limited number of
economic and political elites exert influence on public policy.
This book examines, from a policy regime perspective, how developed
countries attempt to achieve such a breakthrough at critical
junctures triggered by economic crises. It initially assesses the
nature of the present crisis and identifies the actors involved.
Thereafter, it provides an analytical definition of a crisis,
stressing that most crises contain within them the potential to be
turned into an opportunity. Finally, it presents a new analytical
design in which we can incorporate today's more globalized and
fluid context.
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