ABSTRACT

If the notion of 'autonomy' concerns a nation's ability to achieve its policy goals, then most if not all macroeconomics concerns the analysis of autonomy. Whether it be to delimit the boundaries of the possibilities of a state achieving its aims, or the analysis of the best way of going about pursuing them, economics has always been concerned with analysing such possibilities - why else is Adam Smith's second great work an enquiry into 'the nature and causes of the wealth of nations'?