Institutional Foundations of Economic Growth and Price Stability
Author(s)
Naples, Michele I.
Abstract
This chapter outlines a paradigm approach to macroeconomic stabilization. It applies the approach to the postwar stabilization of international financial and trade relations, and to relations between industry and finance domestically, as they spilled over to the foreign sector. It describes the initial paradigm crisis of the 1930s, the new institutional framework that emerged with its macroeconomic consequences, and its unraveling. It later discusses recent experimentation with new conflict management systems.
