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Image of Power and the Ascendance of New Economic Policy Ideas: Lessons from the 1980s Crisis in Israel

Journal Articles

Power and the Ascendance of New Economic Policy Ideas: Lessons from the 1980s Crisis in Israel

Mandelkern, Ronen - Personal Name; Shalev, Michael - Personal Name;

Recent explanations of transformations of macroeconomic policy under crisis conditions spotlight the intrinsic properties of ideas and the persuasiveness with which they are marketed. Bridging the divide between power and discourse approaches, this article reveals the causal role played by the power resources of expert ideational entrepreneurs, conditional on the political conjuncture in which they operate. The authors exploit a fortuitous natural experiment from the early 1980s, when the Israeli economy spiraled into hyperinflation. Two similar proposals for economic stabilization and reform were offered by different teams of economists, less than two years apart. While the government rejected the dollarization plan, its authorization of the stabilization plan inaugurated a new political-economic regime. This case, in which similar programs were advocated by different ideational entrepreneurs in a largely stable institutional and economic context, makes it possible to pinpoint why radically new ideas succeed or fail. Previously underutilized analytical tools are employed to conceptualize the power of idea carriers, at both the individual and the group level.


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Detail Information
Series Title
WORLD POLITICS
Call Number
-
Publisher
United Kingdom : Cambridge University Press., 2010
Collation
-
Language
English
ISBN/ISSN
00438871
Classification
-
Content Type
-
Media Type
-
Carrier Type
-
Edition
Vol. 62, No. 3 July 2010.pp. 459-495
Subject(s)
New Economic Policy
Crisis in Israel
Macroeconomic policy
Specific Detail Info
-
Statement of Responsibility
-
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Kemitraan Library
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Established in 2003, the Library of Kemitraan was originally designed to record and collect all Kemitraan and grantees publications. However, today it broadly develops and serves more sectors to expand the collection to facilitate research activities, particularly since the inception of the Knowledge and Research Management within Kemitraan.

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