The Macroeconomic Policy Paradox: Failing by Succeeding

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6 Scopus citations


While objections can be (and have been) raised, the U.S. government's multifaceted macroeconomic policy responses to the financial crisis after September 2008 appear to have been quite effective. Yet, politically, they are more reviled than admired. The paradox is that economic success-in the sense of averting much worse outcomes-turned into political failure. This article asks why.

Original languageEnglish (US)
Pages (from-to)26-46
Number of pages21
JournalAnnals of the American Academy of Political and Social Science
Issue number1
StatePublished - Nov 2013

All Science Journal Classification (ASJC) codes

  • Sociology and Political Science
  • General Social Sciences


  • financial crisis
  • fiscal policy
  • macroeconomic policy
  • monetary policy


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