Where it comes from and what it does: Dissatisfaction with the bias towards incrementalism in existing policies
What it is good at: Explaining major policy change
What its critics claim it is not good at:
Latest work on it (that I have read):
Howlett, M. and Migone, A. 2011. Charles Lindblom is alive and well and living in punctuated equilibrium land. Policy and Society, Vol. 30, pp.53-62.
Walgrave S. and Varone, F. 2008. Punctuated Equilibrium and Agenda-Setting: Bringing Parties Back in: Policy Change after the Dutroux Crisis in Belgium. Governance, Vol. 21, (3), pp.365-395.
Other explanations of it:
Paul Cairney’s 1000 word explanation.
Youtube explanation by one of the originators!
Key moving parts:
Feedback (negative) (PE and MSA)
Feedback (positive) (PE and MSA)