Globalization and Progressive Economic PolicyDean Baker, Gerald Epstein, Robert Pollin "Globalization and Progressive Economic Policy" challenges mainstream thinking about the nature of globalization. Its authors are not hostile to markets per se. But they are persuaded that capitalist market processes, left to operate freely, are prone to generate injustice, insecurity, instability, and inefficiency. Taking full account of the new realities of globalization, the papers in this volume explore an unusually wide range of subjects, including trade integration, multinational corporations, global labor markets and migration, international capital flows, macroeconomic and environmental policy, and the central roles of the International Monetary Fund and World Bank. The papers also advance 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 paper by a wide range of distinguished economists, producing a lively, fruitful and often controversial set of interchanges. |
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 |
| 465 | |
| 501 | |
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Globalization and Progressive Economic Policy Dean Baker,Gerald Epstein,Robert Pollin No preview available - 1998 |
Common terms and phrases
aggregate demand allocation argue Asian assets average benefits Bretton Woods capital flows capital mobility central bank changes competitiveness constraints controls convergence corporations crisis debt decline deficit deregulation developing countries dirigiste domestic economic policy effects egalitarian environmental exchange rate expansion expansionary policy exports external factors financial markets firms fiscal foreign direct investment funds globalization growth rate higher households housing finance immigration impact important increase industrial inflation inflows institutions integration interest rate parity labor costs labor market loans macroeconomic manufacturing ment Mexican Mexico migration MNCs monetary policy mortgage NAFTA NAIRU neo-liberal OECD output percent period Phillips curve political pressures problems production real wages recent reduce regime regulations relative reserve requirements result rise risk role sector share shift short-term significant social South strategy structural Table tion TNCs trade liberalization unemployment unemployment rate United workers World Bank