The role of the OECD in the design of macroeconomic and labour market policy: reflections of a heterodox economist

Despite theoretical and empirical challenges to the neo-liberal policy framework outlined in the Job Study (1994), supply side initiatives remain central to the DECO's policy agenda, along with conservative macroeconomic policy, notwithstanding concessions made in its 2006 Employment Outlook and subsequent publications. The significant real shocks to economies resulting from the global financial crisis have presented the organisation with new challenges, given the need to reconcile the use of fiscal stimulus packages by some member countries with the principles of so-called sound public finance. There are serious questions about the coherence of its medium term macroeconomic strategy for member countries. An Organisational Discourse perspective (Dostal, 2004) informs our understanding of the conduct of this organisation in the design and dissemination of labour market and macroeconomic policy. While its policy framework is not under challenge from other influential international organisations, its credibility as an impartial disseminator of economic policy would be undermined by any major concessions.