Framing and experimentation in economic policy : the case of the new deal agricultural regulation | Macquarie University ResearchOnline

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Title: Framing and experimentation in economic policy : the case of the new deal agricultural regulation
Related: Asian social science, Vol. 8, No. 3, (2012), p.14-24
DOI: 10.5539/ass.v8n3p14
Publisher: Canadian Center of Science and Education
Date: 2012
Author/Creator: Trofimov, Ivan D
Description: The problems of sub-optimality and instability of the policy regime (agricultural policy regime in the USA in the 1920-1940s as a specific case) as well as the uneasy relationship between practical policy making and economic theory are examined from framing and experimentation perspectives. It is shown that policy formulation is an open-ended process (that eventuates in a unique configuration of mechanisms and underlying institutions), guided by political acceptability and social appropriateness logics, with stable policy outcomes critically dependent on the presence of the consensually held policy frames. Regarding optimality problem, a less restrictive procedural criterion to evaluate policies is advanced.
Description: 11 page(s)
Subject Keyword: Agricultural policy
Subject Keyword: Experimentation
Subject Keyword: Framing
Subject Keyword: New deal
Resource Type: journal article
Organisation: Macquarie University. Dept. of Economics

Identifier: http://hdl.handle.net/1959.14/181482
Identifier: ISSN:1911-2017
Identifier: mq_res-ext-2-s2.0-84857820918
Language: eng
Rights: Copyright the Author(s). Version archived for private and non-commercial use with the permission of the author/s and according to publisher conditions. For further rights please contact the author/s.
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