Table of Contents

Economics, Evolution and the State

Economics, Evolution and the State

The Governance of Complexity

Edited by Kurt Dopfer

This book focuses on the emerging field of evolutionary economic policy, highlighting the interface between the state, markets, and the evolutionary complexity of modern economies. The contributors explore the possibilities and limitations of governance, and provide a unique platform for the advancement of modern evolutionary economic theory.

Chapter 8: Economic Policy – A Process of Communication

Lambert T. Koch

Subjects: economics and finance, evolutionary economics


Lambert T. Koch 1. INTRODUCTION In the attempt to provide an analytical structure for the process of economic policy making, the literature on the subject often differentiates between three basic categories, i.e. determining the status quo, setting aims, selecting measures.1 Here it is presumed that this three-step process should programmatically guide investigations into economic policy making and that it should thus be the original task of a positive theory of economic policy to pose the question as to the most suitable tools for a targetperformance comparison on an aggregated level when faced with different types of situations and target constellations. Suitable measures would be those which lead to a corresponding balance in the most efficient way. Doubts about this idea, which is part of the core of orthodox theory on economic policy, are nothing new.2 Here we are dealing with the basic pattern of a procedure which theorists as far back as Albert already criticised as being instrumentalistic-technocratic (cf. Albert 1967, p. 113), seeing the danger of false methodological concepts resulting in excessive expectations of feasibility in economic policy (cf. Homann 1980). An instrumentalistic-technocratic programme suggests that the process of economic policy making can be understood using a machine model as described by Heinz von Förster (cf. Förster on 1984). This would mean that sufficient knowledge of an initial situation and of currently valid transformation rules would be enough to deduce the ‘right’ measures.3 In this way, planning and forecasting problems in economic policy...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information