New economic policy strategy

Authors

  • Ana Cristina Mingorance-Arnáiz Universidad CEU San Pablo
  • Rafael Pampillón Olmedo IE Business School y Universidad CEU San Pablo

DOI:

https://doi.org/10.7203/IREP.4.1.24763

Abstract

Two major shocks, political and economic, have taken place in the first quarter of the 21st century. When this happens, leaders must change the way they face problems. The experience of the 19th and 20th centuries shows that to solve an economic crisis it is necessary to change the economic policy paradigm. Sometimes radical changes are necessary. At other times, it is enough to do the same thing in a different way. In the article it is reviewed the pendulum swings that have occurred in economic policy during the nineteenth and twentieth centuries. It also discusses the economic problems that the world has had to go through during the first 22 years of the 21st century. The Great Recession of 2008, on the one hand, and the Covid pandemic and the Russia-Ukraine War on the other. In the Great Recession, countries changed economic policy and implemented demand-side policies. The events from 2020 onwards generated, a lot of unrest, and questioned the ability of demand policies to solve economic problems. Everything points to the need for a new pendulum swing in economic policy.

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References

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Published

2022-07-14

How to Cite

Mingorance-Arnáiz, A. C., & Pampillón Olmedo, R. (2022). New economic policy strategy. International Review of Economic Policy-Revista Internacional De Política Económica, 4(1), 20–41. https://doi.org/10.7203/IREP.4.1.24763
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Issue

Vol. 4 No. 1 (2022)

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