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The Resistible Rise of Market Fundamentalism
Rethinking Development Policy in an Unbalanced World

By Richard Kozul-Wright and Paul Rayment

Publisher: Zed Books   Third World Network (TWN)

(ISBN: 978-1-84277-637-7)

Year: 2007   No. of pages: 392

ABOUT THE BOOK

“Stablise, liberalise and privatise” has, since the debt crisis of the early 1980s, been the mantra chanted at developing countries with quasi-religious conviction by international financial institutions, donor countries and newspaper columnists. Policy debate has increasingly polarised into the rhetoric of extremes: trade liberalisers versus protectionists, cosmopolitan versus nationalist, the right-thinking versus the wrong-headed, and so on. In The Resistible Rise of Market Fundamentalism Richard Kozul-Wright and Paul Rayment expose the mix of selective evidence, mythical economic history, simplistic assumptions and opportunistic bias which comprise this prescription for economic development.

They argue that attempts to apply a universal model of development have not only met with little or no success but are also dangerously at odds with democratic principles. Insisting on a ready-made, “one size fits all” model increases the risk of policy reactions that are likely to undermine the peace, prosperity and global integration that the big economic powers and the international organisations are seeking to promote and in which the developing countries seek to share. Instead, developing countries must be given the freedom to experiment, to develop their own policies and discover what works in their own national circumstances. On this basis, Kozul-Wright and Rayment set out a pragmatic, constructive and more hopeful approach to development than the simplicities of market fundamentalists.


ABOUT THE AUTHOR

RICHARD KOZUL-WRIGHT is a senior economist at UNCTAD in Geneva.

PAUL RAYMENT was formerly Director of Economic Analysis at the United Nations Economic Commission for Europe (UNECE) in Geneva.

Contents

Preface and acknowledgements

Abbreviations

Chapter 1.    The rise of market fundamentalism          

Chapter 2.    Back to the future? Globalisation in historical perspective

Chapter 3.    Engines of growth? Trade and financial flows in an open world

Chapter 4.    Transnational corporations, foreign direct investment and the uneven geography of international production

Chapter 5.    Globalisation revisited

Chapter 6.    Towards an alternative framework for development strategies

Chapter 7.    Resisting market fundamentalism

Chapter 8.    The conditions for a sustainable global order

Bibliography

PRICE
US$27.00 for First World countries
US$20.00 for Third World countries
RM40.00 for Malaysia
Prices are inclusive of postage costs by airmail.

How to Order the Book

Visit our TWN Online Bookshop or contact Third World Network at 131 Jalan Macalister, 10400 Penang, Malaysia.

Tel: 604-2266159

Fax: 604-2264505

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