Globalization and Progressive Economic Policy

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Cambridge University Press, Nov 5, 1998 - Business & Economics - 514 pages
The authors of this book challenge mainstream thinking about the nature of globalization. While not hostile to markets per se, they believe that capitalist market processes, left to operate freely, tend to generate injustice, insecurity, instability, and inefficiency. Taking account of the new realities of globalization, this volume explores an unusually wide range of subjects, including trade integration, multinational corporations, labor markets and migration, international capital flows, macroeconomic and environmental policy, and the central roles of the IMF and World Bank. It proposes alternatives to neo-liberal orthodoxy, developing policy measures that counter the destructive features of markets and promote equality as well as efficiency. The approach in this volume is particularly illuminating for understanding the Asian financial collapse of 1997-98 and similar recent crises. The volume also includes comments on each chapter by a wide range of distinguished economists, producing a lively and often controversial set of interchanges.
 

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Contents

Introduction
1
The IMF the World Bank and neoliberalism
35
The revival of the liberal creed the IMF the World Bank and inequality in a globalized economy
37
Comment by Arthur MacEwan
64
India dirigisme structural adjustment and the radical alternative
67
Comment by Keith Griffin
92
Foreign direct investment globalization and neoliberalism
95
Globalization transnational corporations and economic development can the developing countries pursue strategic industrial policy in a globalizing w...
97
Comment by Jaime Ros
271
Integration and income distribution under the North American Free Trade Agreement the experience of Mexico
273
Comment by Thea Lee
293
Malthus redux? Globalization and the environment
297
Comment by Peter Dorman
319
Migration of people in a global economy
323
Freedom to move in the age of globalization
325
Immigration inequality and policy alternatives
337

Comment by Tamim Bayoumi
114
Multinational corporations in the neoliberal regime
117
Comment by Tim Koechlin
144
Globalization of finance
147
Implications of globalization for macroeconomic theory and policy in developing countries
149
Comment by Robert Blecker
159
Asia and the crisis of financial globalization
163
Comment by Sale Ozler
192
Globalization and financial systems policies for the new environment
195
Comment by Ilene Grabel
215
Housing finance in the age of globalization from social housing to lifecycle risk
219
Comment by Jane DArista
240
Trade wages and the environment north and south
243
Openness and equity regulating labor market outcomes in a globalized economy
245
Notes on international migration suggested by the Indian experience
357
Comment on chapters 1315 by Samir Radwan
365
Globalization and macroeconomic policy
367
The NAIRU is it a real constraint?
369
Comment by Robert Eisner
388
Internal and external constraints on egalitarian policies
391
Comment by Robert Blecker
409
The effects of globalization on policy formation in South Africa
413
Comment by Keith Griffin
428
Can domestic expansionary policy succeed in a globally integrated environment? An examination of alternatives
433
Comment by J Bradford De Long
461
Bibliography
465
Index
501
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