Principle and Practical Rationality During the Financial Crisis
Chapter 9: Conclusion: the practical rationality of crisis leadership
In this concluding chapter we briefly assess the outcomes of the study, reflect on its limitations and discuss elements of a possible future research agenda. The study identifies two different forms of political crisis management and sets out a broad set of building blocks and specifications that might serve as starting points for further research. While our systematic elaboration of the Pragmatist approach may provide a useful counterweight to the prevalent rationalism of crisis management advice, we also concede that a Pragmatist approach is particularly challenging for political crisis managers in the area of meaning making. Publicly admitting possible failures, emphasizing the uncertainty of decisions and inviting public debate and critique can be an extremely challenging task for political leaders. We conclude by reviewing a list of the empirical indicators for Pragmatist and principle-guided political crisis management identified in the course of the study. This list can be further refined, expanded and corrected in future research.
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