Incertidumbre knightiana y reconstrucción de la política económica

Abstract

In an environment of radical or Knightian uncertainty, caused by a succession of unexpected crises and the appearance of some large-scale disruptive transformation processes, in recent years the idea of economic policy has undergone some transcendental changes, forming part of the attempts to rebuild the social contract. Beyond the efforts to “rethink macroeconomic policy,” these changes advanced on three axes: the complex and tense relationship between economic reasons and democratic politics; a new distribution of roles, links and synergies between the public and private spheres, States and markets; and a renewed temporality of the policymaking. It is possible to glimpse the growing prominence of the objective of income distribution and of a supply-side policy that is very different from that of the past