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Author: Luigi Manzetti
Publisher: Penn State Press
ISBN: 0271062835
Category : Political Science
Languages : en
Pages : 309
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Book Description
The agenda of neoliberal market reform known as the Washington Consensus, which was meant to turn around the economies of developing and postcommunist countries and provide the bedrock of economic success on which stable democracies could be built, has largely proved to be a failure, with Russia and many Latin American countries like Argentina left in severe economic crisis by the end of the 1990s. Some proponents of neoliberal reform, such as Anne Krueger, have attributed this failure to the piecemeal and incomplete implementation of reform measures, while others, including Nobel Prize economist and former World Bank vice president Joseph Stiglitz, have pointed to technical flaws in the policies. While both of these assessments focus narrowly on economic factors, Luigi Manzetti highlights the crucial importance of political institutions and processes to a fully adequate explanation. His argument is that the ideology of neoliberal reform, rooted in the theories of Friedrich von Hayek and Milton Friedman, assumed political checks and balances that did not exist in many of these countries undergoing market reform, and that only by taking political accountability as an influential variable in the equation for success can we really understand what happened. Where accountability was weak, patterns of corruption, collusion, and patronage worked to undermine the intended aims of market reform. Manzetti uses both large N statistical analyses and small N case studies (of Argentina, Chile, and Russia) to provide empirical evidence for his argument.
Author: Luigi Manzetti
Publisher: Penn State Press
ISBN: 0271062835
Category : Political Science
Languages : en
Pages : 309
Get Book Here
Book Description
The agenda of neoliberal market reform known as the Washington Consensus, which was meant to turn around the economies of developing and postcommunist countries and provide the bedrock of economic success on which stable democracies could be built, has largely proved to be a failure, with Russia and many Latin American countries like Argentina left in severe economic crisis by the end of the 1990s. Some proponents of neoliberal reform, such as Anne Krueger, have attributed this failure to the piecemeal and incomplete implementation of reform measures, while others, including Nobel Prize economist and former World Bank vice president Joseph Stiglitz, have pointed to technical flaws in the policies. While both of these assessments focus narrowly on economic factors, Luigi Manzetti highlights the crucial importance of political institutions and processes to a fully adequate explanation. His argument is that the ideology of neoliberal reform, rooted in the theories of Friedrich von Hayek and Milton Friedman, assumed political checks and balances that did not exist in many of these countries undergoing market reform, and that only by taking political accountability as an influential variable in the equation for success can we really understand what happened. Where accountability was weak, patterns of corruption, collusion, and patronage worked to undermine the intended aims of market reform. Manzetti uses both large N statistical analyses and small N case studies (of Argentina, Chile, and Russia) to provide empirical evidence for his argument.
Author: Luigi Manzetti
Publisher: Penn State Press
ISBN: 0271062851
Category : Political Science
Languages : en
Pages : 309
Get Book Here
Book Description
The agenda of neoliberal market reform known as the Washington Consensus, which was meant to turn around the economies of developing and postcommunist countries and provide the bedrock of economic success on which stable democracies could be built, has largely proved to be a failure, with Russia and many Latin American countries like Argentina left in severe economic crisis by the end of the 1990s. Some proponents of neoliberal reform, such as Anne Krueger, have attributed this failure to the piecemeal and incomplete implementation of reform measures, while others, including Nobel Prize economist and former World Bank vice president Joseph Stiglitz, have pointed to technical flaws in the policies. While both of these assessments focus narrowly on economic factors, Luigi Manzetti highlights the crucial importance of political institutions and processes to a fully adequate explanation. His argument is that the ideology of neoliberal reform, rooted in the theories of Friedrich von Hayek and Milton Friedman, assumed political checks and balances that did not exist in many of these countries undergoing market reform, and that only by taking political accountability as an influential variable in the equation for success can we really understand what happened. Where accountability was weak, patterns of corruption, collusion, and patronage worked to undermine the intended aims of market reform. Manzetti uses both large N statistical analyses and small N case studies (of Argentina, Chile, and Russia) to provide empirical evidence for his argument.
Author: Manfred B. Steger
Publisher: OUP Oxford
ISBN: 0191609765
Category : Business & Economics
Languages : en
Pages : 169
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Book Description
Anchored in the principles of the free-market economics, 'neoliberalism' has been associated with such different political leaders as Ronald Reagan, Margaret Thatcher, Bill Clinton, Tony Blair, Augusto Pinochet, and Junichiro Koizumi. In its heyday during the late 1990s, neoliberalism emerged as the world's dominant economic paradigm stretching from the Anglo-American heartlands of capitalism to the former communist bloc all the way to the developing regions of the global South. At the dawn of the new century, however, neoliberalism has been discredited as the global economy, built on its principles, has been shaken to its core by a financial calamity not seen since the dark years of the 1930s. So is neoliberalism doomed or will it regain its former glory? Will reform-minded G-20 leaders embark on a genuine new course or try to claw their way back to the neoliberal glory days of the Roaring Nineties? Is there a viable alternative to neoliberalism? Exploring the origins, core claims, and considerable variations of neoliberalism, this Very Short Introduction offers a concise and accessible introduction to one of the most debated 'isms' of our time. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
Author: Asa Maron
Publisher: Oxford University Press
ISBN: 0192511459
Category : Political Science
Languages : en
Pages : 240
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Book Description
This book explores the politics, institutional dynamics, and outcomes of neoliberal restructuring in Israel. It puts forward a bold proposition: that the very creation of a neoliberal political economy may be largely a state project. Correspondingly, it argues that key political conflicts surrounding the realization of this project may occur within the state. Neoliberal restructuring and the institutionalization of permanent austerity are dependent on reconfigured power relations between state actors and are manifested in a new institutional architecture of the state. This architecture, in turn, is the context in which efforts to change social and employment policies play themselves out. The volume frames the coming of neoliberalism in Israel as a set of concrete and far-reaching changes in the power and modes of operation of the key players in the political economy. These changes undermined and neutralized veto players and enabled the ascendance of two state agencies - the Ministry of Finance and the Central Bank - which gained greatly augmented authority and autonomy. These reconfigurations were set in motion by state initiatives that combined punctuated and incremental change. The volume comprises case studies of changes in specific social and labor market policies, revealing a close elective affinity between programmatic neoliberal changes on the one hand, and on the other the proactive drive of the Ministry of Finance to enhance its control over public spending and policy design. The book explores successful neoliberal reforms but also reforms that were blocked, undermined, or overturned by opposition, emphasizing the importance of reformers' capacity to translate temporary achievements into entrenched strategic advantages.
Author: Aldo Madariaga
Publisher: Princeton University Press
ISBN: 0691182590
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
The puzzling resilience of neoliberalism -- Explaining the resilience of neoliberalism -- Neoliberal policies and supporting actors -- Neoliberal resilience and the crafting of social blocs -- Creating support : privatization and business power -- Blocking opposition : political representation and limited democracy -- Locking-in neoliberalism : independent central banks and fiscal spending rules -- Lessons. Neoliberal resilience and the future of democracy.
Author: Mehmet Odekon
Publisher: Routledge
ISBN: 1317475763
Category : Business & Economics
Languages : en
Pages : 1020
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Book Description
This timely and authoritative set explores three centuries of good times and hard times in major economies throughout the world. More than 400 signed articles cover events from Tulipmania during the 1630s to the U.S. federal stimulus package of 2009, and introduce readers to underlying concepts, recurring themes, major institutions, and notable figures. Written in a clear, accessible style, "Booms and Busts" provides vital insight and perspective for students, teachers, librarians, and the general public - anyone interested in understanding the historical precedents, causes, and effects of the global economic crisis. Special features include a chronology of major booms and busts through history, a glossary of economic terms, a guide to further research, an appendix of primary documents, a topic finder, and a comprehensive index. It features 1,050 pages; three volumes; 8-1/2" X 11"; topic finder; photos; chronology; glossary; primary documents; bibliography; and, index.
Author: Robert J. Hanlon
Publisher: Routledge
ISBN: 1134503466
Category : Business & Economics
Languages : en
Pages : 231
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Book Description
As globalization has brought about new concerns and responsibilities for business, particularly in the realm of human rights, many multinational corporations (MNC) operating in Asia have argued that such rights are the responsibility of government. However, as globalization continues to improve market access for MNCs, it increasingly exposes them to new forms of transnational social movements, and as a result the private sector has emerged as one of the central stakeholders in the region’s human rights dialogue. Taking three of Asia’s fastest emerging economies – Cambodia, China and Thailand – as its starting point, Corporate Social Responsibility and Human Rights in Asia explores the business case for corporate social responsibility, human rights and anti-corruption in the region. In doing so, it examines how industry perceives human rights and corruption within the corporate social responsibility (CSR) paradigm, and builds on the argument that the CSR regime is a socially constructed concept. Drawing on interviews with key stakeholders including business leaders, nongovernmental organizations, international organizations and government officials, Robert Hanlon argues that industry perceives human rights as outside their sphere of influence; that divergent stakeholder interests are side-lining the human rights debate; and that human rights are increasingly ignored in the quest for profit-maximization. This leads to the conclusion that human rights and corruption will remain peripheral business issues until stakeholders find new ways of creating space for CSR engagement, and business actors will continue to marginalize the human rights issue so long as governments in the region let them. This interdisciplinary book draws on political science, business and sociological perspectives and as such, will be of great interest to students and scholars working across the fields of Asian business, corporate social responsibility and business ethics, human rights and international political economy.
Author: Vivien A. Schmidt
Publisher: Cambridge University Press
ISBN: 1107435692
Category : Political Science
Languages : en
Pages : 473
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Book Description
Why have neo-liberal economic ideas been so resilient since the 1980s, despite major intellectual challenges, crippling financial and political crises, and failure to deliver on their promises? Why do they repeatedly return, not only to survive but to thrive? This groundbreaking book proposes five lines of analysis to explain the dynamics of both continuity and change in neo-liberal ideas: the flexibility of neo-liberalism's core principles; the gaps between neo-liberal rhetoric and reality; the strength of neo-liberal discourse in debates; the power of interests in the strategic use of ideas; and the force of institutions in the embedding of neo-liberal ideas. The book's highly distinguished group of authors shows how these possible explanations apply across the most important domains - fiscal policy, the role of the state, welfare and labour markets, regulation of competition and financial markets, management of the Euro, and corporate governance - in the European Union and across European countries.
Author: Navroz K. Dubash
Publisher: OUP Oxford
ISBN: 0191668494
Category : Law
Languages : en
Pages : 320
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Book Description
The 1990s and 2000s have witnessed a spurt of energetic institution-building in the developing world, as regulatory agencies emerge to take over the role of the executive in key sectors. This rise of the regulatory state of the south is barely noticed both by scholars of regulation and of development, let alone adequately documented and theorized. Yet the consequences for the role of the state and modalities of governance in the south are substantial, as politically charged decisions are handed over to formally technocratic agencies, creating new arenas and forms of contestation over the gains and losses from development decisions. Moreover, this shift in the developing world comes at a time when the regulatory state in the north is under considerable stress from the global financial crisis. Understanding the regulatory state of the south, and particularly forms of accommodation to political pressures, could stimulate a broader conversation around the role of the regulatory state in both north and south. This volume seeks to provoke such a discussion by empirically exploring the emergence of regulatory agencies of a range of developing countries across Asia, Africa, and Latin America. The cases focus on telecommunications, electricity, and water: sectors that have often been at the frontlines of this transition. The central question for the volume is: Are there distinctive features of the regulatory state of the South, shaped by the political-economic context of the global south in the last two decades? To assist in exploring this question, the volume includes brief commentaries on the case studies from a range of disciplines: development economics, law and regulation, development sociology, and comparative politics. Collectively, the volume seeks to shape the contours of a productive inter-disciplinary conversation on the emergence of a significant empirical phenomenon - the rise of regulatory agencies in the developing world - with implications both for the study of regulation and the study of development.
Author: Sreeram Chaulia
Publisher: Routledge
ISBN: 1317653661
Category : Political Science
Languages : en
Pages : 248
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Book Description
A crucial commentary on the worst global economic crisis since the Great Depression, this book argues for ‘Three Rs’ — Regulation, Responsibility and Radicalism — i.e., state regulation of finance, state responsibility towards society, and radical social movements to fight for economic justice. It will interest scholars and researchers in international political economy, politics, international relations, and economics, as also policymakers and the informed general reader.
