Volume 31, Issue 3 pp. 431-447
ORIGINAL ARTICLE

Of paradigms and power: British economic policy making since Thatcher

Martin B. Carstensen

Martin B. Carstensen

Copenhagen Business School

Search for more papers by this author
Matthias Matthijs

Matthias Matthijs

Johns Hopkins University

Search for more papers by this author
First published: 25 June 2017
Citations: 57

Abstract

How do ruling policy paradigms persist over time and why do they often undergo significant internal ideational changes? While the impact of Peter Hall's approach to policy paradigms on the study of governance has been immense, there is a burgeoning consensus that a “Kuhnian” understanding of paradigms makes punctuated equilibrium style shifts the only game in town. While Hall's approach can account for inter-paradigm change with reference to exogenous shocks, it does not allow for significant ideational shifts to occur intra-paradigm. To remedy this, we place ideational power dynamics at the heart of the study of policy paradigms. We demonstrate the general applicability of our approach by examining the evolution of British macroeconomic policy-making since 1990. We show how key policy-makers were able to employ their institutional and ideational power to reinterpret and redefine the dominant neoliberal understanding of the economy to match their own specific ideas and policy priorities.

The full text of this article hosted at iucr.org is unavailable due to technical difficulties.