07: (Economic-)Policy for Progress – The Return of the “Magic Polygon”

From the 1960s, economic policy in major Western economies such as Germany was oriented towards a set of targets, so economic growth found itself on an equal footing with the targets of full employment, price stability and balanced foreign trade. Over recent years, a diversity of alternative political goals have been built into economic planning, (including environmental sustainability, a more equal distribution of income and wealth and gender equality) and have been anchored in various EU strategies. However, in the aftermath of the financial and economic crisis the issues of growth and sound public finances would appear to dominate the EU framework for economic policy.

The seminar will tackle issues around the alternatives for progressive economic policy. How might targets be defined today with a more encompassing economic policy? How might this be institutionalised in national and European economic governance? What is the role of pluralistic and interdisciplinary theoretical approaches and policy concepts when trying to tackle the long-term challenges of our time, including climate change and energy transition, demographic change and migration, and inequality?