The Failure of the Neoliberal Economic Model to Establish Area Free Trade in North America and Central America PDF Download

Author: William D. Ghent
Publisher:
ISBN:
Category : Free enterprise
Languages : en
Pages : 210

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Author: Jack Rasmus
Publisher: SCB Distributors
ISBN: 1949762041
Category : Business & Economics
Languages : en
Pages : 324

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"Rasmus excels at economic history... The Scourge is a powerful, important book. We ignore it at our peril." David Baker, Zmag While the capitalist system has undergone numerous restructurings throughout its history, the capitalist elites’ purpose in elaborating these changes has remained the same: to restore and/or extend their hegemony over domestic class and global challengers. The current systemic designation, operative since 1978, is “neoliberalism,” deployed to obfuscate what in actuality is US imperialism and domestic class warfare. The Scourge of Neoliberalism describes the origins and evolution of the specifically American form of Neoliberalism. Its expansionary phase—from 1978 to 2008—was disrupted by the global crash and crisis of 2008-09 and was only partially restored by the Obama regime thereafter. Trump’s attempt to resuscitate Neoliberalism has led to the emergence of a new, more aggressive and virulent form which, despite some gains, is nonetheless a destabilizing policy regimen destined to break down with the next global economic crisis, which is likely occur by 2020. The political consequences of US neoliberal policy evolution and restoration efforts have led, on the one hand, to the breakdown of government institutions, the decline of mainstream political parties, the atrophy of democratic practices, rights and values, and attacks on civil liberties, and on the other to the embedding of the Neoliberal credo that business tax cuts create jobs, free trade benefits all, low interest rates generate investment, entitlement programs are the cause of government deficits, markets are always efficient, recessions are caused by external shocks to an otherwise stable equilibrium system, and similar empirically unverifiable propositions. In describing the evolution of Neoliberal policies from Reagan through Clinton, the Bushes, Obama, and Trump presidencies, Rasmus shows how they have played a central enabling role in the financialization of the US capitalist economy, in its ever-growing income and wealth inequality gaps, and in the increasing polarization of US society and polity

Author: Fred Haggerson
Publisher: GRIN Verlag
ISBN: 3668293112
Category : Political Science
Languages : en
Pages : 30

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Polemic Paper from the year 2016 in the subject Business economics - Economic Policy, , language: English, abstract: President Ronald Reagan promoted and passed into law provisions of an economic plan that came to be known as Reaganomics. The principles of his plan were based on the neoliberal economic theory originally developed by Friedrich Hayek and Ludwig Von Mises of the Austrian school of economics. The major principles followed by Reaganomics were as follows: 1) totally free markets, devoid of government intervention are the best way to promote economic growth and personal freedom, 2) the government should refrain from any interference economic matters, 3) taxes should be kept at as low as possible to stimulate economic growth, 4) government regulations should be eliminated except those that ensure contracts, 5) government should not own businesses or property and should privatize those that it does own, and 6) international trade should be promoted by removing all tariffs and quotas. Laws and policies based on neoliberalism were passed from 1981 through 2008 in the US and have had influence on the national economy down to the present. Based on analysis of economic results and political developments during the period this paper argues that Reaganomics and neoliberalism have failed to improve economic growth and the preserve personal freedom above that provided by of the Welfare State which has developed in the US and OECD countries for more than a hundred years. Furthermore the neoliberal agenda is highly correlated with the undesirable unintended consequences of a rapidly rising national debt and balance of trade deficit.

Author: Jack Rasmus
Publisher: Clarity Press
ISBN: 9781949762037
Category : History
Languages : en
Pages : 0

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While the capitalist system has undergone numerous restructurings throughout its history, the capitalist elites' purpose in elaborating these changes has remained the same: to restore and/or extend their hegemony over domestic class and global challengers. The current systemic designation, operative since 1978, is "neoliberalism," deployed to obfuscate what in actuality is US imperialism and domestic class warfare. The Scourge of Neoliberalism describes the origins and evolution of the specifically American form of Neoliberalism. Its expansionary phase--from 1978 to 2008--was disrupted by the global crash and crisis of 2008-09 and was only partially restored by the Obama regime thereafter. Trump's attempt to resuscitate Neoliberalism has led to the emergence of a new, more aggressive and virulent form which, despite some gains, is nonetheless a destabilizing policy regimen destined to break down with the next global economic crisis, which is likely occur by 2020. The political consequences of US neoliberal policy evolution and restoration efforts have led, on the one hand, to the breakdown of government institutions, the decline of mainstream political parties, the atrophy of democratic practices, rights and values, and attacks on civil liberties, and on the other to the embedding of the Neoliberal credo that business tax cuts create jobs, free trade benefits all, low interest rates generate investment, entitlement programs are the cause of government deficits, markets are always efficient, recessions are caused by external shocks to an otherwise stable equilibrium system, and similar empirically unverifiable propositions. In describing the evolution of Neoliberal policies from Reagan through Clinton, the Bushes, Obama, and Trump presidencies, Rasmus shows how they have played a central enabling role in the financialization of the US capitalist economy, in its ever-growing income and wealth inequality gaps, and in the increasing polarization of US society and polity.

Author: Ha-Joon Chang
Publisher: Anthem Press
ISBN: 0857287613
Category : Business & Economics
Languages : en
Pages : 196

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How did the rich countries really become rich? In this provocative study, Ha-Joon Chang examines the great pressure on developing countries from the developed world to adopt certain 'good policies' and 'good institutions', seen today as necessary for economic development. His conclusions are compelling and disturbing: that developed countries are attempting to 'kick away the ladder' with which they have climbed to the top, thereby preventing developing countries from adopting policies and institutions that they themselves have used.

Author: Gérard Duménil
Publisher: Harvard University Press
ISBN: 0674744349
Category : Business & Economics
Languages : en
Pages : 400

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This book examines “the great contraction” of 2007–2010 within the context of the neoliberal globalization that began in the early 1980s. This new phase of capitalism greatly enriched the top 5 percent of Americans, including capitalists and financial managers, but at a significant cost to the country as a whole. Declining domestic investment in manufacturing, unsustainable household debt, rising dependence on imports and financing, and the growth of a fragile and unwieldy global financial structure threaten the strength of the dollar. Unless these trends are reversed, the authors predict, the U.S. economy will face sharp decline.Summarizing a large amount of troubling data, the authors show that manufacturing has declined from 40 percent of GDP to under 10 percent in thirty years. Since consumption drives the American economy and since manufactured goods comprise the largest share of consumer purchases, clearly we will not be able to sustain the accumulating trade deficits.Rather than blame individuals, such as Greenspan or Bernanke, the authors focus on larger forces. Repairing the breach in our economy will require limits on free trade and the free international movement of capital; policies aimed at improving education, research, and infrastructure; reindustrialization; and the taxation of higher incomes.

Author: Kean Birch
Publisher: Bloomsbury Publishing
ISBN: 1848133502
Category : Political Science
Languages : en
Pages : 290

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The recent, devastating and ongoing economic crisis has exposed the faultlines in the dominant neoliberal economic order, opening debate for the first time in years on alternative visions that do not subscribe to a 'free' market ethic. Bringing together the work of distinguished scholars and dedicated activists, The Rise and Fall of Neoliberalism presents critical perspectives of neoliberal policies, questions the ideas underpinning neoliberalism, and explores diverse responses to it from around the world.

Author: Malcolm Fairbrother
Publisher: Oxford University Press
ISBN: 0190635487
Category : Political Science
Languages : en
Pages : 288

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Today's global economy was largely established by political events and decisions in the 1980s and 90s, when scores of nations opened up their economies to the forces of globalization. In Free Traders, Malcolm Fairbrother argues that politicians' embrace of globalization was much less motivated by public preferences than by the agendas of businesspeople and other elites. Drawing on over one hundred interviews with decision-makers, and analyses of archival materials from Canada, Mexico, and the U.S., Fairbrother tells the story of how each country negotiated and ratified two agreements that substantially opened and integrated their economies: the 1989 Canada-U.S. and trilateral 1994 North American Free Trade Agreement. Contrary to what many commentators believe, these agreements-like free trade elsewhere-were based less on mainstream, neoclassical economics than on the informal, self-serving economic ideas of business. While the stakes in the globalization debate remain high, Free Traders uses a comparative-historical approach to sharpen our understanding of how globalization arose in the past to provide us with clearer trajectory for how it will develop in the future.

Author: Geoffrey P. Faux
Publisher:
ISBN:
Category : Free trade
Languages : en
Pages : 36

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Author: Malcolm Henry Fairbrother
Publisher:
ISBN:
Category :
Languages : en
Pages : 728

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