While it is sometimes supposed that "analytical ideal types turn all too easily into political ideals" (see here), it

While it is sometimes supposed that “analytical ideal types turn all too easily into political ideals” (see here), it is my impression that this statement does not apply to all “analytic ideal types”. In contrast, the process selecting those “ideal types” that eventually acquire political or public impact is actually quite delicate. Against this backdrop, I found the Review of the Keynesian Economics’ current special issue to be of major interest as it takes the 50th anniversary of Milton Friedman’s well-known presidential address on “The Role of Monetary Policy” as an occasion to reflect on the conceptual foundations, the empirical plausibility and the political impact of the “Scourge of Monetarism”. Tracking the context and history of such influential economic accounts not only allows us to understand the relation between economic ideas and the more recent economic history. It also illuminates the fact that economic ideas are, eventually, powerful tools, which contribute to shaping historical trajectories, an aspect that is sometimes denied by practitioners of the subject (e.g. here). However, a clearly relevant condition for analytical tools to gain impact is that they have applicable practical applications spelled out in a clear and accessible way. In this context, Industrial and Corporate Change’s current special issue on “mission-oriented innovation policy” provides a good archetype for how ambitious policy suggestions with a heterodox origin can be positioned to fulfill the beforementioned requirement. Hence, I would recommend that you take a short look on this issue, which not only focuses on future applications and perspectives, but also evaluates past applications of the suggested concept. All the best, Jakob © public domain