The shifting Overton window

 

The Overton window is an effective tool for describing changing opinions in politics and science. The window is a simple construct. Joseph Overton,  a public policy specialist, wanted to show how think tanks and political strategists can change public policy by shifting the boundaries of what people are willing to discuss, rather than just arguing within existing limits. There are degrees of acceptance, yet those ideas that can be acceptable are subject to change. Policy experts can shift those boundaries by changing public opinion.

The issue today is that the boundaries are shifting fast, and the process of shift means that extreme voices become more vocal in an effort to move the window. 

We are seeing the economic policy Overton windows shifting on monetary and fiscal policy, and that creates uncertainty. A shift in policy thinking also shifts the potential effects from these new policies, and markets may not be prepared for these chnages.