The Market or the Public Domain? Global Governance and the Asymmetry of Power

By Daniel Drache | Go to book overview

Introduction: The fundamentals of our time

Values and goals that are inescapably public

Daniel Drache

This volume is about 'after the triumph', a short-hand for a much larger and more powerful idea, namely, the return, reconstitution and redeployment of the public domain in a post-Seattle and post-Washington consensus world order (Williamson 1990, 1999). The emergence of the global economy with its predilection for market fundamentals, tough zero-inflation bench-marking, an unstoppable political dynamic of one worldism and silence on the need for an expansive notion of the public sphere is unquestionably the watershed event of our times. The meta-narrative of globalization has no rivals as the last grand political discourse of the twentieth century and if we understand anything about the endless capacity of the globalization narrative to reinvent itself in a new guise when conditions demand it, today is one of those defining moments. A new kind of state is emerging with its own particular institutions, practices and innovative forms (Held 1995; Castells 1996). Yet after the battle in Seattle, the future prospects of 'market fundamentalism' are increasingly troubled. A turning point has been reached in the debate over the rising costs and elusive benefits of globalization (Millennium 2000).

The once solid fundamentals now face a doubting chorus composed of professional experts and loud and insistent highly articulate critics from civil society about the policy processes that occur outside the present reach of the nation-state. As times have changed, the policy capitals of the world have adopted a new rhetoric of poverty reduction, equity and strengthening the role of the state in economic management. The distancing from the old consensus is quite stark and unmistakable (Birdsall and de la Torre 2000). Take just one measure. John Williamson, the economist who first coined the term the Washington consensus, is no longer an unqualified partisan supporter of its efficiency pro-market advocacy. He joins the distinguished company of other leading economists, such as Joseph Stiglitz, John Helliwell, Paul Krugman, Sylvia Ostry and Dani Rodrik, who have publicly expressed strongly dissenting views about its rigid policy prescription and one-worldism (Naim 2000).

This public soul-searching has given the tough structural adjustment goals of the Washington consensus a human face and spawned a moderate vision of reformism among policy insiders. The new policy objectives include: poverty-reduction, improving equity and building socially inclusive societies, heading the

-1-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Market or the Public Domain? Global Governance and the Asymmetry of Power
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 394

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.