Titolo Rivista HISTORY OF ECONOMIC THOUGHT AND POLICY
Autori/Curatori Erik Buyst
Anno di pubblicazione 2013 Fascicolo 2013/1
Lingua Inglese Numero pagine 18 P. 103-120 Dimensione file 166 KB
DOI 10.3280/SPE2013-001006
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We analyse the impact of economists on post-war economic policy in Belgium. The severe budgetary and monetary crisis of the mid-1920s which brought the country on the brink of hyperinflation and a state moratorium, framed economic policy for several decades to come. Until the mid-1950s inflation fighting and a stable currency became an obsession in both economic thought and policy. In this climate the penetration of Keynesianism and of regional development policies was seriously delayed. Therefore the period between the mid-1950s and early 1960s was an important watershed. From then Keynesianism in its various forms blossomed. New paradigms, such as the monetarist counter-revolution and supply-side economics, failed to make a breakthrough in academia and had little or no impact on economic policy. Reckless economic policies in the aftermath of the two oil crises temporarily broke down the long run consensus concerning a stable currency.
Keywords:Economic thought, Belgian economics, Keynesianism, economic policy, economic history
Jel codes:B22, E60, N14
Erik Buyst, The Interaction between Economic Theories and Policies in Belgium, 1944-2000 in "HISTORY OF ECONOMIC THOUGHT AND POLICY" 1/2013, pp 103-120, DOI: 10.3280/SPE2013-001006