This volume brings together many of the leading international figures in development studies, such as Jose Antonio Ocampo, Paul Krugman, Dani Rodrik, Joseph Stiglitz, Daniel Cohen, Olivier Blanchard, Deepak Nayyer and John Williamson to reconsider and propose alternative development policies to the Washington Consensus. Covering a wide range of issues from macro-stabilization to trade and the future of global governance, this important volume makes a real contribution to this important and ongoing debate.
The volume begins by introducing the Washington Consensus, discussing how it was originally formulated, what it left out, and how it was later interpreted, and sets the stage for a formulation of a new development framework in the post-Washington Consensus era. It then goes on to analyze and offer differing perspectives and potential solutions to a number of key development issues, some which were addressed by the Washington Consensus and others which were not. The volume concludes by looking toward formulating new policy frameworks and offers possible reforms to the current system of global governance.
About the Author
Narcís Serra is the President of the CIDOB Foundation. During this time, he has been the driving force behind the creation of the Barcelona Institute for International Studies (IBEI), which was founded with the desire to make Barcelona a centre of reference in the study of this discipline. Currently, he is the President of Caixa Catalunya and Chairman of the Board of the National Museum of Art of Catalonia (MNAC). He has previously served as Mayor of Barcelona, was Spanish Minister of Defence in the Government of Felipe González, and in 1991, he was named Vice President of the Spanish Government. From 1986 until 2004, Narcís Serra was a Deputy for Barcelona in the Spanish Congress.
Joseph E. Stiglitz was awarded the Nobel Prize in economics in 2001 and is University Professor at Columbia University where he founded the Initiative for Policy Dialogue in 2000. He was Chair of President Bill Clinton's Council of Economic Advisors from 1995-97 and Chief Economist and Senior Vice-President of the World Bank from 1997-2000.His best known recent publications include 'Making Globalization Work' (2006), 'Fair Trade for All' (2005), 'Globalization and its Discontents' (2002) and 'The Roaring Nineties' (2003).
Table of Contents
List of Figures ix
List of Tables x
List of Contributors xi
The Washington Consensus: From Its Origins to Its Critics
Introduction: From the Washington Consensus Towards a New Global Governance Narcis Serra Shari Spiegel Joseph E. Stiglitz 3
A Short History of the Washington Consensus John Williamson 14
Inequality and Redistribution Paul Krugman 31
Is there a Post-Washington Consensus Consensus? Joseph E. Stiglitz 41
The Barcelona Development Agenda 57
Analyses of Central Issues in Development
A Broad View of Macroeconomic Stability Jose Antonio Ocampo 63
The Wild Ones: Industrial Policies in the Developing World Alice H. Amsden 95
Sudden Stop, Financial Factors, and Economic Collapse in Latin America: Learning from Argentina and Chile Guillermo A. Calvo Ernesto Talvi 119
Towards a New Modus Operandi of the International Financial System Daniel Cohen 150
The World Trading System and Implications of External Opening Jeffrey A. Frankel 180
The World Trading System and Development Concerns Martin Khor 215
Reforming Labor Market Institutions: Unemployment Insurance and Employment Protection Olivier Blanchard 260
International Migration and Economic Development Deepak Nayyar 277
Towards a New Global Governance
The Future of Global Governance Joseph E. Stiglitz 309
Growth Diagnostics Ricardo Hausmann Dani Rodrik Andres Velasco 324
A Practical Approach to Formulating Growth Strategies Dani Rodrik 356
Most Helpful Customer Reviews
The Good and the BadContrary to the title, this collection of essays about neoliberalization, otherwise referred to as "The Washington Consensus" is not just an anti-neoliberal polemic. The collection includes essays that defend it, and in fact define its doctrine in more concrete terms.The book is therefore difficult to summarize as each individual essay has their own thesis, writing style, arguments, etc... The authors, to each their own, are some of the leading economic theorists of our time, including but not limited to John Williamson, Joseph Stiglitz, Paul Krugman, Jeffrey Frankel and more.If you want to learn more about the macroeconomic theory behind the Friedman style economics, beyond the coles notes version you get in popular books like the "Shock Doctrine" of Naomi Klein, than this book is for you.