Richard Kozul-Wright, Paul Rayment

Resistible Rise of Market Fundamentalism

Rethinking Development Policy in an Unbalanced World

• Broschiertes Buch

Produktbeschreibung

"Stabilise, liberalise and privatise" has, since the debt crisis of the early 1980s, been the mantra chanted at developing countries by international financial institutions, donor countries and newspaper columnists with quasi-religious conviction. Policy debate has increasingly polarised into the rhetoric of extremes: trade liberalisers versus protectionists, cosmopolitan versus nationalist, the right-thinking versus the wrong-headed, and so on. In The Resistible Rise of Market Fundamentalism Richard Kozul-Wright and Paul Rayment expose the mix of selective evidence, mythical economic history, simplistic assumptions and opportunistic bias which comprise this prescription for economic development. They argue that attempts to apply a universal model of development have not only met with little or no success but are dangerously at odds with democratic principles. Insisting on a ready-made, "one size fits all" model increases the risk of policy reactions that are likely to undermine the peace, prosperity and global integration that the G7 countries and the international organisations are seeking to promote and in which the developing countries seek to share. Instead, developing countries must be given the freedom to experiment, to develop their own policies and discover what works in their own, national circumstances. On this basis, Kozul-Wright and Rayment set out a pragmatic, constructive and more hopeful approach to development than the simplicities of market fundamentalists.

Produktdetails

• Verlag: Bloomsbury Academic
• Seitenzahl: 176
• Erscheinungstermin: 1. Januar 2008
• Deutsch, Englisch
• Abmessung: 217mm x 149mm x 21mm
• Gewicht: 490g
• ISBN-13: 9781842776377
• ISBN-10: 1842776371
• Artikelnr.: 21205567

Autorenporträt

Paul Rayment was until recently Director of Economic Analysis at the UN's Economic Commission for Europe. Richard Kozul-Wright is a Senior Economist at the United Nations Conference on Trade and Development and former Minister of Finance of Brasil.

Inhaltsangabe

Contents Abbreviations
Preface and acknowledgements 1. The rise of market fundamentalism Globalisation: What's in a name?
The neo
liberal revival
From neo
liberalism to market fundamentalism
The greatly exaggerated death of the nation state
Entry points 2. Back to the future? Globalisation in historical perspective Introduction
Through the looking glass: Economic integration before World War I
Global divergence
Conclusions 3. Engines of growth? Trade and financial flows in an open world Introduction
Trade liberalisation takes charge
The exaggerations and limits of "win
win" arguments
Trade liberalisation, adjustment costs and the myth of convergence
The liberalisation of international finance
The siren call of quick fixes: Shocks, cycles and crises in unregulated financial markets
Conclusions 4. Transnational corporations, foreign direct investment and the uneven geography of international production Introduction
The spread of international production
Escaping the simplicities of conventional thinking
Lessons from success stories
Some warning signals
Conclusion 5. Globalisation revisited Introduction
Catching up, falling behind and growing apart
Change in the policy climate: Investment trends since the debt crisis
Deindustrialisation and enclave development
Conclusions 6. Towards an alternative framework for development strategies Introduction
Myths, biases and simple assumptions
Cumulative and interdependent factors of development
Developmental states
Democracy and economic development
Conclusions 7. Resisting market fundamentalism Introduction
Democratic gradualism and policy space
Regaining policy space: Lessons from the Marshall Plan
Strengthening the profit
investment
export nexus
Reforming the global architecture 8. The conditions for a sustainable global order Bibliography