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Policy and Governance

In: Principles of Institutional and Evolutionary Political Economy

Author

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  • Phillip Anthony O’Hara

    (Global Political Economy Research Unit)

Abstract

This chapter employs the principle of policy and governance to isolate key areas where IEPE informs socioeconomic policy; and this is continued especially in Chap. 9 . We start with the concept of social provisioning; followed by the principles of the disembedded economy, uncertainty and historical specificity relating to cycles and waves of policy-making through the double movement relationship between markets, reciprocity, redistribution and householding. Then we study other aspects of the principle of contradiction, including capital-labor relations, finance-industry dichotomy, monopoly versus competition, profit and environment, plus individual versus society, etc. Thereafter the principles of circular and cumulative causation is linked to social and production aspects of complex systems of political economy which brings into focus the forces of emergence and complexity. Lastly, the principle of hegemony and uneven development is linked to global asymmetries of financial instability, climate change and wave dynamics, which brings into focus the principle of heterogeneous groups and agents. Core principles assist the policy process when activist governance measures are required to improve human and environmental provisioning.

Suggested Citation

  • Phillip Anthony O’Hara, 2022. "Policy and Governance," Springer Texts in Business and Economics, in: Principles of Institutional and Evolutionary Political Economy, chapter 8, pages 251-276, Springer.
    • Handle: RePEc:spr:sptchp:978-981-19-4158-0_8
    DOI: 10.1007/978-981-19-4158-0_8
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