Globalization and the Myths of Free Trade PDF
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Globalization and the Myths of Free Trade Globalization and the Myths of Free Trade critically examines the Washington Consensus,its history,theory,practice and its global outcomes. Two decades have passed since neoliberal globalization began to be implemented, and its highly uneven effects have given rise to a growing opposition. The present debate is not about the need to utilize international resources in the effort to enhance global development,but rather about the mannerin which resources should be brought to bear on this project. Throughout the volume,contributors critically analyze whether free trade is the optimal path to development in the current global climate. The book is organized in four parts, each dedicated to one of the four major issues that inform the debate. The first part focuses on the history and theory of the relationship between international trade and economic development. The second part is concerned with the linkages between globalization and economic development. It examines the actual experiences of various parts of the world in the neoliberal era, ranging from Asia and Latin America to Russia and Eastern Europe. The third part analyzes the effects of globalization on gender inequality and international poverty. And the final section looks at the impact of capital account liberalization,both on the developing world and on the developed coun- tries themselves. Anwar Shaikh is Professor of Economics at the Graduate Faculty of Political and Social Science of the New School University,USA. Routledge Frontiers of Political Economy 1 Equilibrium Versus Understanding 8 Social Economy Towards the rehumanization of The logic of capitalist development economics within social theory Clark Everling Mark Addleson 9 New Keynesian Economics/Post 2 Evolution,Order and Complexity Keynesian Alternatives Edited by Elias L. Khalil and Edited by Roy J. Rotheim Kenneth E. Boulding 10 The Representative Agent in 3 Interactions in Macroeconomics Political Economy James E. Hartley Malvern after ten years Edited by Steven Pressman 11 Borderlands of Economics Essays in honour of Daniel R. Fusfeld 4 The End of Economics Edited by Nahid Aslanbeigui and Michael Perelman Young Back Choi 5 Probability in Economics 12 Value,Distribution and Capital Omar F. Hamouda and Essays in honour of Pierangelo Robin Rowley Garegnani Edited by Gary Mongiovi and 6 Capital Controversy,Post Fabio Petri Keynesian Economics and the History of Economics 13 The Economics of Science Essays in honour of Geoff Harcourt, Methodology and epistemology as if volume 1 economics really mattered Edited by Philip Arestis,Gabriel James R. Wible Palma,and Malcolm Sawyer 14 Competitiveness,Localised Learning 7 Markets,Unemployment and Regional Development and Economic Policy Specialisation and prosperity in small Essays in honour of Geoff Harcourt, open economies volume 2 Peter Maskell,Heikki Eskelinen, Edited by Philip Arestis,Gabriel Ingjaldur Hannibalsson,Anders Palma,and Malcolm Sawyer Malmberg,and Eirik Vatne 15 Labour Market Theory 25 The End of Finance A Constructive reassessment Capital market inflation,financial Ben J. Fine derivatives and pension fund capitalism Jan Toporowski 16 Women and European Employment 26 Political Economy and the New Jill Rubery,Mark Smith,Colette Capitalism Fagan,and Damian Grimshaw Edited by Jan Toporowski 17 Explorations in Economic 27 Growth Theory Methodology A philosophical perspective From Lakatos to empirical Patricia Northover philosophy of science Roger Backhouse 28 The Political Economy of 18 Subjectivity in Political Economy the Small Firm Essays on wanting and choosing Edited by Charlie Dannreuther David P. Levine 29 Hahn and Economic Methodology 19 The Political Economy of Edited by Thomas Boylan and Middle East Peace Paschal F. O'Gorman The impact of competing trade agendas Edited by J. W. Wright,Jr 30 Gender,Growth and Trade The miracle economies of 20 The Active Consumer the postwar years Novelty and surprise in consumer David Kucera choice Edited by Marina Bianchi 31 Normative Political Economy Subjective freedom,the market 21 Subjectivism and Economic and the state Analysis David Levine Essays in memory of Ludwig Lachmann 32 Economist with a Public Purpose Edited by Roger Koppl and Essays in honour of John Gary Mongiovi Kenneth Galbraith Edited by Michael Keaney 22 Themes in Post-Keynesian Economics 33 Involuntary Unemployment Essays in honour of Geoff Harcourt, The elusive quest for a theory volume 3 Michel De Vroey Edited by Claudio Sardoni and Peter Kriesler 34 The Fundamental Institutions of Capitalism 23 The Dynamics of Technological Ernesto Screpanti Knowledge Cristiano Antonelli 35 Transcending Transaction 24 The Political Economy of Diet, The search for self-generating Health and Food Policy markets Ben J. Fine Alan Shipman 36 Power in Business and the State 48 Cognitive Developments in Economics An historical analysis of its Edited by Salvatore Rizzello concentration Frank Bealey 49 Social Foundations of Markets, Money and Credit 37 Editing Economics Costas Lapavitsas Essays in honour of Mark Perlman Hank Lim,Ungsuh K. Park,and 50 Rethinking Capitalist Development Geoff Harcourt Essays on the economics of Josef Steindl 38 Money,Macroeconomics and Keynes Edited by Tracy Mott and Nina Shapiro Essays in honour of Victoria Chick,volume 1 51 An Evolutionary Approach Philip Arestis,Meghnad Desai, to Social Welfare and Sheila Dow Christian Sartorius 39 Methodology,Microeconomics and Keynes 52 Kalecki’s Economics Today Essays in honour of Victoria Edited by Zdzislaw L. Sadowski Chick,volume 2 and Adam Szeworski Philip Arestis,Meghnad Desai, and Sheila Dow 53 Fiscal Policy from Reagan to Blair The left veers right 40 Market Drive & Governance Ravi K. Roy and Arthur T. Denzau Reexamining the rules for economic and commercial contest 54 Individualism and the Social Order Ralf Boscheck The social element in liberal thought Charles R. McCann Jr 41 The Value of Marx Political economy for 55 Affirmative Action in the United contemporary capitalism States and India Alfredo Saad-Filho A comparative perspective Thomas E. Weisskopf 42 Issues in Positive Political Economy S. Mansoob Murshed 56 Global Political Economy and the 43 The Enigma of Globalisation Wealth of Nations A journey to a new stage of capitalism Performance,institutions, Robert Went problems and policies Edited by Phillip Anthony O'Hara 44 The Market Equilibrium,stability,mythology 57 Structural Economics S. N. Afriat Thijs ten Raa 45 The Political Economy of Rule 58 Macroeconomic Theory and Evasion and Policy Reform Economic Policy Jim Leitzel Essays in honour of Jean-Paul Fitoussi Edited by K. Vela Velupillai 46 Unpaid Work and the Economy Edited by Antonella Picchio 59 The Struggle Over Work 47 Distributional Justice The “end of work”and employment Theory and measurement alternatives in post-industrial societies Hilde Bojer Shaun Wilson 60 The Political Economy of Global 72 Marx for the 21st Century Sporting Organisations Edited by Hiroshi Uchida John Forster and Nigel Pope 73 Growth and Development in the 61 The Flawed Foundations of Global Political Economy General Equilibrium Theory Social structures of accumulation Critical essays on economic theory and modes of regulation Frank Ackerman and Alejandro Nadal Phillip Anthony O’Hara 62 Uncertainty in Economic Theory 74 The New Economy and Essays in honor of David Macroeconomic Stability Schmeidler’s 65th birthday A neo-modern perspective drawing Edited by Itzhak Gilboa on the complexity approach and Keynesian economics 63 The New Institutional Economics Teodoro Dario Togati of Corruption Edited by Johann Graf Lambsdorff, 75 The Future of Social Security Markus Taube and Matthias Schramm Policy Women,work and a citizen’s 64 The Price Index and basic income its Extension Ailsa McKay A chapter in economic measurement S. N. Afriat 76 Clinton and Blair The political economy of the third way 65 Reduction,Rationality and Game Flavio Romano Theory in Marxian Economics Bruce Philp 77 Marxian Reproduction Schema Money and aggregate demand in 66 Culture and Politics in Economic a capitalist economy Development A. B. Trigg Volker Bornschier 78 The Core Theory in Economics 67 Modern Applications of Austrian Problems and solutions Thought Lester G. Telser Edited by Jürgen G. Backhaus 79 Economics,Ethics and the Market 68 Ordinary Choices Introduction and applications Individuals,incommensurability, Johan J. Graafland and democracy Robert Urquhart 80 Social Costs and Public Action in Modern Capitalism 69 Labour Theory of Value Essays inspired by Karl William Peter C. Dooley Kapp’s theory of social costs Edited by Wolfram Elsner,Pietro 70 Capitalism Frigato,and Paolo Ramazzotti Victor D. Lippit 81 Globalization and the Myths 71 Macroeconomic foundations of of Free Trade macroeconomics History,theory and empirical evidence Alvaro Cencini Edited by Anwar Shaikh Globalization and the Myths of Free Trade History, theory, and empirical evidence Edited by Anwar Shaikh First published 2007 by Routledge 2 Park Square,Milton Park,Abingdon,Oxon OX14 4RN Simultaneously published in the USA and Canada by Routledge 270 Madison Ave,New York,NY 10016 Routledge is an imprint of the Taylor & Francis Group,an informa business This edition published in the Taylor & Francis e-Library, 2007. “To purchase your own copy of this or any of Taylor & Francis or Routledge’s collection of thousands of eBooks please go to www.eBookstore.tandf.co.uk.” © 2007 Selection and editorial matter Anwar Shaikh; individual chapters, the contributors. All rights reserved. No part of this book may be reprinted or reproduced or utilized in any form or by any electronic,mechanical,or other means,now known or hereafter invented,including photocopying and recording,or in any information storage or retrieval system,without permission in writing from the publishers. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloguing in Publication Data A catalogue record for this book has been requested ISBN 0-203-96638-4 Master e-book ISBN ISBN10:0-415-77047-5 (hbk) ISBN10:0-203-96638-4 (ebk) ISBN13:978-0-415-77047-7 (hbk) ISBN13:978-0-203-96638-9 (ebk) Contents List of tables xi List of figures xiii List of contributors xv List of abbreviations xvii Acknowledgments xix 1 Introduction 1 ANWAR SHAIKH PART I Globalization and free trade 21 2 Kicking away the ladder:the “real”history of free trade 23 HA-JOON CHANG 3 Globalization and the myth of free trade 50 ANWAR SHAIKH 4 Globalization and free trade:theory,history,and reality 69 DEEPAK NAYYAR PART II Globalization and economic development 85 5 External liberalization in Asia,postsocialist Europe and Brazil 87 LANCE TAYLOR 6 Exports,foreign investment and growth in Latin America: skepticism by way of simulation 116 JOHN WEEKS
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