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Enviado por   •  7 de Enero de 2014  •  280 Palabras (2 Páginas)  •  149 Visitas

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1.1 The Context of Neo-liberal Globalism

This project responds critically to the paradigm of neo-liberal globalism that has become dominant in the past 20 years. Alan Greenspan, Chairman of the U.S. Federal Reserve, observes that the Western form of capitalism is now the consensus model of how each individual country should run its economy (in Wade, 1999, 4). Lawrence Summers, U.S. Secretary of the Treasury and former chief economist of the World Bank argues that “globalist economic policy ... is the forward defense of America’s deepest security interest”. He states that anyone who is a critic of the “Bretton Woods Washington Consensus” is a “separatist” (1996:3). The neo-liberal globalism paradigm is known by several terms: Structural Adjustment Programs, The Washington Consensus, the Wall Street-Treasury Complex, Liberal Productivism, and the New World Order. The prescription for every country is to:        open financial and capital accounts remove foreign exchange restrictions cut public expenditures balance budgets, lower corporate taxes deregulate businesses encourage foreign investment sell off public enterprises and secure private property monopolies under law (Williamson 1993, 18). It is the American model. The spread of this model indicates the presence of an overarching ideology of governance that we will refer to as “neo-liberal globalism” or simply “globalism”. Globalism is an “ism”, an ideology.1 By “globalism”, we mean the norms, institutions, and laws that support global capital accumulation along neo-liberal principles. Globalism challenges democratic assumptions about the sovereignty of states and national citizenry (Laxer, 1995a). Under globalism, states are:    oriented less to internal demands focussed on maximizing exports, freeing the flow of capital and enshrining transnational corporate rights as “national treatment”. locked into...


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