BRACE for a New Interventionist Economics
60 Pages Posted: 12 Jun 2014
Date Written: March 28, 2010
The Great Recession seems to be creating a New Interventionist Economics characterized by bubbles, radical uncertainty, animal spirits, complexity dynamics, and extra-market control. When placed in that order, these characteristic create the acronym BRACE. We review some evidence and literature pointing to BRACE economics and briefly suggest some avenues to challenge the new interventionists.
Keywords: E32, G12, E5, E6
JEL Classification: animal spirits, Great Recession, interventionism, complexity
Suggested Citation: Suggested Citation