Policy Change under New Democratic Capitalism

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 todayâs more globalized and fluid context. . Language: English