Global Economy, Global Justice: Theoretical Objections and Policy Alternatives to Neoliberalism

Global Economy, Global Justice: Theoretical Objections and Policy Alternatives to Neoliberalism

Global Economy, Global Justice: Theoretical Objections and Policy Alternatives to Neoliberalism

Global Economy, Global Justice: Theoretical Objections and Policy Alternatives to Neoliberalism

Synopsis

This volume presents a critique of the fashionable idea of globalization, where the kind of global economy that is in the process of forming is seen as the highest possible form of economy.

Excerpt

Before reading this book I ask the reader to indulge me in a simple exercise. in your mind or even on a piece of paper, please conclude the following statement: “A good economic policy measure or outcome is one that…”. in providing your conclusion, I ask that you consider the criterion (or set of criteria) that you think ought to be brought to bear when assessing economic policies and the economic outcomes they generate. What purposes should economic policy serve, and/or what outcomes should it promote? Do not be deterred if you have not formally studied economics or have not thought about this question before. I am sure that you already have at least tentative views about this matter. What are they?

Now please conclude a second statement: “When economists claim that an economic policy or outcome is good, they mean that it…”. You may know that most economists support free trade. You may also know that these same economists also support the market economy over government planning regimes. But what I’m asking you to write down is the criterion or set of criteria they use in reaching these conclusions. Why do these economists support free trade and the market economy over alternative arrangements? What kinds of outcomes do they hope these policies and institutions will generate?

One final statement: “A good theory is one that…”. in concluding this statement, consider what a good theory is to do, what features it should have, and/or what form it should take. All our lives each of us has had to make choices between contending theories. I’m asking you to reflect for a moment on the criterion of theory choice that you bring to bear (or think should be brought to bear) when confronting alternative theories.

This book is intended in part to speak to the questions raised here. My suspicion is that most people know far more about which policies and outcomes economists support than just why they hold these views. I further suspect that most people (especially students of economics) know far more about the basic principles of the theory that these economists employ—called “neoclassical theory”—than they do about just why this theory is taken to be more appropriate than the many alternative economic theories. and there are good reasons for this unevenness in economic literacy. While economists

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.