Synopses & Reviews
The authors of this book challenge prevailing ideas about free markets and globalization. They question whether globalization is a technological reality that cannot be stopped and ask if the US economy really outperformed its competitors in the 1990s. They show how in each key area--trade and industrial policy, privatization, intellectual property rights, investment and financial policies, exchange rate and currency policy, labour and social welfare --there are alternatives to neoliberal policies that the historical experience of particular countries prove really works.
After half a century of disappointed hopes, where do developing countries go from here? In this volume, two economists refute some of the main myths of free market globalization in trenchant fashion. introducing the alternative economic policies that can be and have been successfully pursued.
About the Author
is Assistant Director of Development Studies in the Faculty of Economics and Politics, University of Cambridge. Ilene Grabel
is Associate Professor of International Economics at Denver University's Graduate School of International Studies.
Table of Contents
Part I. Introduction
* Introduction * Part II. Myths and Realities About Development
* Myth I: History Shows that Free Markets Are Best. * Myth II: Neo-Liberalism Works.o Myth III: Globalisation Cannot and Should Not Be Stopped. * Myth IV: The (Neo-Liberal) American Model of Capitalism Represents the Ideal that All Developing Countries Should Seek to Replicate. * Myth V: The East Asian Model is Idiosyncratic; The Anglo-American Model is Universal. * Myth VI: Developing Countries Need Discipline. Discipline is Provided by International Institutions Like the IMF and the WTO, and by Independent Domestic Institutions, Such As Currency Boards. * Part III. Policy Alternative
s * Policy Alternatives I: Trade and Industry * Policy Alternatives II: Privatisation and Property Rights * Policy Alternatives III: International Private Capital Flows * Policy Alternatives * Domestic Financial Regulation * Policy Alternatives V: Macroeconomic Policies and Institutions * Part IV. Conclusion