Forum: A new economic paradigm

Summary:

The financial crisis of 2008-09 may have occurred a decade ago, but we are still dealing with the repercussions today, including a global populism wave. The crisis has also led to the demise of economists' unwavering belief in market efficiency that had guided economic policy for decades. A new paradigm is urgently needed with new policies to address today's pressing issues, such as growing inequality, climate change and rising trade protectionism.

Articles in this forum:

+ Introduction
+ Paradigm shifts in economic theory and policy | Laurie Laybourn-Langton & Michael Jacobs
+ Shifting views on trade liberalisation: beyond indiscriminate applause | Sebastian Dullien
+ Towards a new paradigm: stabilising financial markets | Moritz Schularick & Kaspar Zimmermann
+ Shifting paradigms in carbon pricing | Brigitte Knopf, Kerstin Burghaus, Christian Flachsland, Michael Jakob, Nicolas Koch & Ottmar Edenhofer
+ A new paradigm for fiscal policy? | Xavier Ragot
+ Paradigm shift in the Eurozone? The market-based convergence rationale | Simon Tilford & Christian Odendahl
+ On current account imbalances | Gustav A. Horn
+ Myths and facts about inequality | Marcel Fratzscher

• Primary Source