Volcker‑style Credibility in Reform

When a government tries a deep structural economic shift (e.g., from consumption to production), political success depends less on immediate outcomes and more on a credibility strategy that convinces voters to accept short‑term pain for long‑term gain. That requires clear, early signaling, durable institutional commitments (tax, regulatory, industrial pivots), and a measured timeline so public expectations are aligned with transitional costs. — Treating large economic reorientations as political communications and institutional design problems reframes debates about policy speed, legitimacy, and how to evaluate presidents mid‑transition.