The Effects of Exceptional Policies on Innovation and Economic Resilience / Jona van Laak
יום רביעי, 19.4.2023 בין השעות 14:15-15:45
Exceptional policies extend political actions to and over the limits of the legal system. They establish a new status quo, resetting the balance of political sovereignty and the rule of law (authoritarian window of opportunity). Less represented in research are the economic effects caused by the new institutional paradigm and the implications on incentives and behavior changes. They influence the macroeconomic outcome as well as the economic culture of innovation and pioneering spirit. In order to discuss the potential of the linkages between exceptional policies and innovation effects, this research talk will follow three theory strands.
The first is institutional economics. It is assumed that the use of the state of exception and its institutional changes create a quantifiable influence on economic actors. Aspects like the regulatory quality, the predictability of regulation or simply the lifespan and the side effects of the controlling mechanism influence the economic decisions of economic subjects.
The second is cultural theory. Cultural habits significantly shape the behavior and crisis resilience of systems as well as of individuals. As the debate on the entrepreneurial state has shown, political systems do not have to implement an anti-innovation culture of risk avoidance and bureaucracy. If risk and exceptional policy making (as a high-risk-area of the policy arena) become part of the political DNA they can create an economic culture that forces start-up mentality and entrepreneurial thinking.
The third is communication theory. The communication of crisis and exceptional measures requires a successful crisis management. It ensures trust and reputation among stakeholders. As a result, the behavior effects on economic subjects are shaped by the quality of the narratives and the storytelling of political actors.
Jona van Laak, PhD, is a Lecturer in Economics at the FOM University of Applied Sciences in Munich and Research Director at the consultancy PR-COM. After studying political science and economics at the LMU Munich, he completed his PhD in crisis research at TU Munich. Professionally, he has been working as a business editor and analyst for specialist publishers in the IT and construction industry since 2017. His current research focuses on economic theory, applied economic policy and crisis research with a spotlight on communication aspects.
* (מצביחירום22-23) (מינרבהקיצון22-23)