Economic Populism and Institutional Reform (Routledge Frontiers of Political Economy)

In response to the global crises in recent decades, many countries - both developed and developing economies - have resorted to populist forms of economic policy instead of undertaking meaningful institutional change. This book explores two forms of economic populism in particular (wage populism and exchange rate populism) and demonstrates that these types of policies result in high inflation, unstable exchange rates, and chronic macroeconomic problems.The book opens with an elucidation of the institutional economics approach - drawing on Commons and Veblen, and foregrounding laws, rules, norms, regulations, religions, and traditions - which sheds particular light on economic populism.The book also explores the different forms of economic populism that have been seen throughout the world including policies in the United States, Brexit in the United Kingdom, the response to the Yellow Jackets in France, the populism of various countries in Latin America, and regulations in China.Delving