Creating a New World Economy: Forces of Change & Plans for Action

487 Pages·1993·25.84 MB·English

by  Gerald A. Epstein

Creatirlg a New World Economy
FORCES O~F CHANGE AND PLANS FOR ACTION

TempleUniversityPress, Philadelphia 19122
Copyright © 1993 byTempleUniversity. Allrights reserved
Published 1993
PrintedintheUnitedStatesofAmerica
Thepaperusedinthis publicationmeets theminimum
requirementsofAmericanNationalStandardforInformation
Sciences-PermanenceofPaperforPrintedLibraryMaterials,
ANSI Z39.48-1984
TheCenterfor PopularEconomics is located
inAmherst, Massachusetts (Box 785).
LibraryofCongress Cataloging-in-PublicationData
Creatinganewworldeconomy :forces ofchange andplans for
action/editedbyGeraldEpstein,Julie Graham, JessicaNembhard
for the Centerfor PopularEconomics.
p. em.
Includes bibliographicalreferences andindex.
ISBN 1-56639-053-2 (cloth: alk. paper)-ISBN
1-56639-054-0 (pbk. :alk. paper)
1. Developingcountries-Foreign economic relations. 2.
Developingcountries-Economicconditions. 3. International
businessenterprises. 4. Internationaltrade. I. Epstein, Gerald
A. II. Graham, Julie, 1945- . III. Nembhard, Jessica
Gordon. IV. Centerfor PopularEconomics (U.S.).
HF1413.C73 1993 92-30977
337'.0917'4-dc20 CIP
For Tom Riddell

Contents
Figures and Tables Xl
Foreword, by Samuel Bowles xv
AcknowledgmerLts XXI
Acronyms and }~bbreviations XXUI
Introduction, by the Editors 1
I
PART I T:HE GLOBAL ECONOMY:
INTERN}~TIONALFLOWS AND NATIONAL DILEMMAS
1 Power, Profits, and Cooperation in the Global Economy 19
GERALD EPSTEIN
2 Trade Policy: Who Wins, Who Loses? 47
MEHRENE LARUDEE
3 Crossing E~orders: A Case for Cooperation in International
Financial ~viarkets 64
ILENE GRA,BEL
4 Immigration and the World Economy 84
BOB SUTCIJIFFE
5 u.S. Militarism and the Global Economy 108
TOM RIDD:ELL
6 Cocaine Capitalism 123
KIARAN H()NDERICH
7 Can Marke~tsWork in Eastern Europe? 140
DIANE FLAHERTY
VU
VIll Contents
8 The Rise and Fall ofthe Keynesian Revolution in the Age
ofthe Global Marketplace 163
JAMES CROTIY
I
PART II CHANGES IN THE INDUSTRIALIZED WORLD:
NATIONS AND MULTINATIONALS
9 Global Equity and Environmental Crisis: An Argument for
Reducing Working Hours in the North 183
JULIET B. SCHOR
10 The United States as a Debtor Country 199
GERALD EPSTEIN
11 Multinational Corporations and the Internationalization of
Production: An Industry Perspective 221
JULIE GRAHAM
12 The Japanese Model ofProduction: Cooperation or Coercion? 242
EMILY KAWANO
13 From Junior Partner To ... ?Japan in the World Economy 258
LYUBA ZARSKY
14 The GreatTrade Debates 274
JULIET B. SCHOR
I
PART III THE THIRD WORLD IN THE GLOBAL ECONOMY:
FAILED MODELS AND NEW APPROACHES
15 Managing the Latin American Debt Crisis: The International
Monetary Fund and Beyond 289
MANUEL PASTOR, JR.
16 Foreign Aid and Dependent Development 314
JESSICA NEMBHARD
17 The Crisis ofPlenty: Africa 335
ANTHONY GUGLIELMI
18 The International Economy and the Environment in
Latin America 351
HECTOR sAEz
19 The Internationalization ofthe U.S. Military Industry:
A Caribbean Case Study 360
MARIBELAPONTE-GARCiA
Contents ix
20 No More~NICs 376
ROBIN BllOAD and JOHN CAVANAGH
21 Developrnent Strategies in Latin America: Which Way Now? 391
JOSE TAy.t\RA
22 Third World Socialism and the Demise ofCOMECON 405
CARMEN DIANA DEERE and STAN MALINOWITZ
23 Making (:onnections: Women in the International Economy 421
BRENDA WYSS and RADHIKA BALAKRISHNAN
Glossary 439
The Contributors 450
Index 455