Does Economic Adjustment Affect the Legitimacy of Democracies?

DIANE ETHIER [*]

Comparing seven West-European cases

ABSTRACT

Many studies show that governments have reacted differently to the structural crisis or Keynesian models of development. Some have opted for a neo-liberal orthodox adjustment policy (OAP); others have adopted either a social-democrat heterodox adjustment policy (HAP) or a Keynesian adjustment policy (KAP). According to many studies, only HAPs preserve or improve the legitimacy of democracies given that they permit, in conformity with the theory of political development, to resume economic growth while safeguarding redistributive policies. This article largely confirms the validity of this hypothesis ...

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