Sweden’s policy turnaround hinged on changing the paradigm, not the economy

Evidence

What changed at this juncture was the instruction sheet, which began to evolve from the mid-1920s onward, from austerity and gold toward a more expansionary fiscal policy and a more accommodating monetary policy. — Mark Blyth, Austerity, 520

Categorization

• XREF: “Instruction sheet” is Blyth’s recurring metaphor for the prevailing economic paradigm; ties to the book’s core thesis about ideas as the driver of austerity. — connects to: Sweden’s 1989-1993 collapse came from asset bubbles and currency crisis, not debt fears — Mark Blyth, Austerity: The History of a Dangerous…, 573; Swedish Social Democrats imposed austerity because they lacked alternative economic ideas — Mark Blyth, Austerity: The History of a Dangerous…, 519

Broader Connections

• Swedish Social Democrats imposed austerity because they lacked alternative economic ideas #expands (0.80) — Mark Blyth, Austerity, 519
• Sweden’s 1989-1993 collapse came from asset bubbles and currency crisis, not debt fears #complicates (0.75) — Mark Blyth, Austerity, 573