Illiberal Economic Policies

This chapter provides an overview of illiberalism as a formative line of policymaking in the economic development of the past two centuries, with a focus on the last two decades. It first provides a historical account. Second, it offers four ideal types of illiberal policies which are considered as success stories by those employing them. Third, we inquire if, and to what degree and under what conditions, the illiberal change in policies – which runs contrary to the policy consensus of the highly successful Great Moderation period of 1985–2007 – is likely to survive in the long run under the conditions brought by globalization and the IT revolution.