The patterns of history and the return of progressive economics

Document type
Adam Lent
Date of publication
15 December 2009
Thinkpiece; 55
Social Policy
Social welfare
Material type

Download (1.9MB )

This paper offers an account of how the current financial crisis fits into the broader sweep of historical economic developments. Evolutionary economics is concerned with identifying and analysing the patterns that exist in economic history and understanding how fundamental tensions in capitalism, and the society and polity within which capitalism operates, shape those patterns.  Taking the work of Carlota Perez as a base, this paper explores the phases of the current stage of development and draws out the policy implications for the current post-crash transition phase. The author concludes that the revival of a progressive vision that combines greater equality with a deep diversity is well aligned with the economic and commercial imperatives of the post-crash era.

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