Globalization and Progressive Economic Policy

Prominent economists analyze the impact of the emerging global economy on national sovereignty and standards of living.

Dean Baker (Edited by), Gerald Epstein (Edited by), Robert Pollin (Edited by)

9780521643764, Cambridge University Press

Paperback, published 5 November 1998

532 pages, 12 b/w illus. 59 tables
22.8 x 15.3 x 3.3 cm, 0.84 kg

'In this excellent collection, 37 contributors from around the world study the World Bank, the IMF, the multinational corporations, movement of capital, goods and labour and the possibilities of national economic renewal.' Morning Star

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.

1. Introduction Dean Baker, Gerald Epstein and Robert Pollin
2. The revival of the liberal creed: the IMF, the World Bank and inequality in a globalized economy Ute Pieper and Lance Taylor
3. India: dirigisme, structural adjustment and the radical alternative Prabat Patnaik and C. P. Chandrasekhar
4. Globalisation, transnational corporations, and economic development: can the developing countries pursue strategic industrial policy in a globalising world economy Ha-Joon Chang
5. Multinational corporations in the neo-liberal regime James Crotty, Gerald Epstein and Patricia Kelly
6. Implications of globalization for macroeconomic theory and policy in developing countries Amit Bhaduri
7. Asia and the crisis of financial globalization David Felix
8. Globalization and financial systems: policies for the new environment Marc Schaberg
9. Housing finance in the age of globalization: from social housing to life cycle risk Gary Dymski and Dorene Isenberg
10. Openness and equity: regulating labor market outcomes in a globalized economy Jim Stanford
11. Integration and income distribution under the North American Free Trade Agreement: the experience of Mexico Mehere Larudee
12. Malthus redux? Globalization and the environment Eban Goodstein
13. Freedom to move in the age of globalization Bob Sutcliffe
14. Immigration, inequality and policy alternatives Greg DeFreitas
15. Notes on international migration suggested by the Indian experience Prabat Patnaik and C. P. Chandrasekhar
16. The NAIRU: is it a real constraint Dean Baker
17. Internal and external constraints on egalitarian policies Andrew Glyn
18. The effects of globalization on policy formation in South Africa Laurence Harris and Jonathan Michie
19. Can domestic expansionary policies succeed in a globally integrated environment? A consideration of alternatives Robert Pollin.

Subject Areas: Macroeconomics [KCB]