Globalization and the Myths of Free Trade

History, Theory and Empirical Evidence

Author: Anwar Shaikh Series: Routledge Frontiers of Political Economy

Globalization and the Myths of Free Trade

Written by an international team of contributors this book is a critical examination of the ongoing enterprise of neoliberalism; its history, theory, practice, and most of all, of its outcomes.

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Summary

Written by an international team of contributors this book is a critical examination of the ongoing enterprise of neoliberalism; its history, theory, practice, and most of all, of its outcomes.

Description

The world has become a human laboratory for the momentous social experiment called neoliberalism. Its proclaimed purpose is to reduce global poverty, its protocols are derived from the orthodox theory of competitive free markets and its policies are enforced by the full weight of the rich countries and global institutions such as the World Trade Organization (WTO), the World Bank and the International Monetary Fund (IMF). This book is a critical examination of this ongoing enterprise, of its history, theory, practice, and most of all, of its outcomes.

An international team of contributors has been assembled including Lance Taylor, Ha-Joon Chang and Ajit Singh.

About the Author

New School University, USA

Back Cover

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 manner in which resources should be brought to bear on this project. Throughout the volume, contributors critically analyse 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 countries themselves.