Presidents, Prime Ministers and Policy Rhetoric: The ‘Credibility Gaps’ of Woodrow Wilson and Kevin Rudd in the League of Nations and Climate Change Debates

US President Woodrow Wilson and Australian Prime Minister Kevin Rudd were separated by institutional contexts, relative power positions and decades in time. However, each confronted a similar dilemma — of reconciling rhetorical idealism with policy practicalities. Building on insights from studies of the US rhetorical presidency, we offer a framework highlighting the tensions between ‘outside’ moral appeals which raise expectations and the ‘inside’ technocratic rhetoric of policy administration. We argue that norms encouraging moral appeals have come to transcend institutional differences between ‘presidential’ and ‘prime ministerial’ systems. Despite the different contexts of the Wilson-era League of Nations debate and the Rudd-era carbon tax-Kyoto controversies, we argue that pressures to ‘speak in two voices’ engendered credibility gaps that undermined each leader's congressional and parliamentary support. In concluding, we suggest that this analysis supports a more nuanced appreciation of the rhetorical imperatives that can impede policy efficiency — and the need to limit tendencies to either populist or intellectual partisanship. </jats:p

Macroprudential Ideas and Contested Social Purpose: A Response to Terrence Casey

In response to Terrence Casey's argument that the emergence of macroprudential regulation since the financial crash can and should save neoliberalism we raise five objections. 1). The Debt-Driven Growth Hypothesis (DDG) and the Financial Instability Hypothesis (FIH), as Casey terms them, are just as likely to be complementary as they are oppositional and they are by no means incompatible. 2) Casey's empirics are too thin and static, drawn from the 1980s and 1990s, while Anglo Liberal Financialised Capitalism (ALFC) is a complex adaptive system that has continued to evolve throughout the 2000s. 3) Casey overlooks the dynamic relationship between potentially excessive financialisation and the performance of the wider economy, which is becoming a growing concern for many policy makers using the macroprudential frame. 4) Macroprudential as a series of ideas about the economy are often incompatible with neoliberal premises and their ontological foundations. 5) Many of the policy makers who have acted as the biggest champions of macroprudential regulation have also been highly critical of ALFC and view the macroprudential turn as making a contribution to a much needed deeper financial reformation that would over time transform some of the constituent economic and social relations of the existing political economy. We conclude that what we call the social purpose of macroprudential regulation (the question of whether it is intended to patch up or transform the existing system) is contested, and that macroprudential regulation has much potential beyond saving 'neoliberalism'.No Full Tex

A constructivist theory of international monetary relations : monetary understandings, state interests in cooperation, and the construction of crises (1929-2001)

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The meaning of an inflation crisis: steel, Enron, and macroeconomic policy

How do crises shape policy possibilities? While some scholars cast crises as material shocks, this paper offers a Post Keynesian or constructivist theory of crises as events that agents interpret. It contrasts opposing Galbraithian and classical interpretations of the 1962 steel crisis and the 2000-2001 California energy crisis. Whereas Galbraithian interpretations of the former stressed abuses of market power and legitimated wage-price guideposts, classical interpretations of the latter stressed regulatory excesses and delayed the imposition of price caps. This paper concludes that the absence of wage-price guidelines compelled the post-1970s use of austerity to limit inflation, explaining reduced U.S. growth.constructivism, crisis, imperfect competition, inflation, market power,

The benefits of norm ambiguity: constructing the responsibility to protect across Rwanda, Iraq and Libya

Over the past two decades, International Relations scholars have highlighted the importance of efforts by hegemonic states and norm entrepreneurs to foster norm clarity when promoting the establishment, institutionalisation, and internalisation of norms

Exogenous shocks or Endogenous constructions? The Meaning of War and Crises

This symposium addresses the role of wars and crises as mechanisms of international change. Over the past two decades, the international system has undergone a number of remarkable transformations, from the end of the Cold War to the emergence of an ongoing "War on Terror," and from the collapse of statist development models to the emergence of a contested - if evolving - neoliberal "Washington Consensus." This volatility exceeds any underlying shifts in economic structures or the distribution of capabilities, and raises important questions regarding the roles of agency, uncertainty, and ideas in advancing change. In this introduction we examine the role of wars and economic crises as socially constructed openings for change. We attempt three things: to critique materialist approaches in the security and political economy issue areas, to outline the distinctive contribution that an agent-centered constructivist understanding of such events offers, and to offer a framework for the study of such events, one which highlights an expanded range of elite-mass interactions