Social Liberalism and Global Domination Jose Mauricio Domingues

Abstract Neoliberalism was paramount in the transition to the present phase of modernity. But since the 1990s, a sort of social liberalism has also been crucial to the organization of current forms of global domination, including the forms of governmentality that shape contemporary subjectivities. This article investigates the closed forms of seriality as well as sectoralized and targeted policies that underlie social liberalism. Counterposed to them, though not in an absolute manner, is a perspective of open serialities and universalist social policies towards a complex solidarity. Neoliberalism and social liberalism Neoliberalism appeared many years ago as a project to which…

ILO Leadership Election Must not be Another Charade Jayati Ghosh

Later this month, the governing body of the International Labour Organisation is due to elect a new director-general. This election has not received as much attention as the recent appointments of other institutions like the IMF and the World Bank. Even so, it could have important consequences for the world and most of its population. The candidacy of Jomo Kwame Sundaram represents an important chance for the ILO to move to centre stage in developing strategies to counter the global turbulence and move towards more stable, equitable and democratic paths. The past two decades have not been particularly kind to…

Productive Incoherence in an Uncertain World: Financial governance, policy space and development after the global crisis Ilene Grabel

The current global financial crisis raises important questions for scholars of international political economy. Among the most important of these is how it is influencing various dimensions of financial governance vis-à-vis developing and transitional economies. The paper examines three related questions. How is the crisis affecting the governance and policies of the IMF; the prospects of regional alternatives to the Fund; and the policy space available to developing and transitional countries? uncertain_world (Download the full text in PDF format)

Turkey and the Long Decade with the IMF: 1998-2008 A. Erinc Yeldan

This article provides a critical review of Turkey’s engagement with the IMF over the past decade which ended recently. It argues that the end of the stand by in May 2008 signifies neither autonomy from the IMF nor a successful graduation and a completion of the IMF programme. Present Turkey is characterized by high debt, speculative growth environment with jobless patterns with its government institutions under siege. Turkey_IMF (Download the full text in PDF format)

The Mo Ibrahim Prize: Robbing Peter to pay Paul Issa Shivji

Punishment is to deter; often to take revenge. Reward is to encourage. Rewards can also be a recognition for outstanding, usually, individual achievements. Which acts are liable to punishment and which are rewarded depends on the dominant values of society. These can differ from society to society and from time to time within same society. Issues of democracy and dictatorship, of war and peace, of governance and state administration, do not fall within the realm of a system of punishment and rewards. Of course, victorious powers recognise their war heroes and vanquished bury their martyrs with honour. But then heroes…

Reforming the International Monetary Fund – Why its legitimacy is at stake Hector R. Torres

This paper critiques the IMF’s capacity to influence its key members’ policies through its advice, and to give confidence to potential borrowers by offering opportune and meaningful financial assistance in case of trouble. It argues that IMF’s governance structure is inconsistent with its multilateral nature and is dysfunctional to its purposes. There is also an ideological bias in its policy advice that prevents the Fund from being responsive to citizens’ concerns and challenges posed by globalization. The ongoing reform process is tinkering on the margins and if not redressed will fail to bring additional credibility and effectiveness to the Fund.…

Review of “The Bottom Billion: Why the Poorest Countries are Failing and What can be done about it” Charles Abugre

The former head of development research at the World Bank and current Professor of Economics at Oxford University, sets out a broad agenda for the G8 to tackle the problems of the (unidentified) countries at the bottom of the development heap. Using statistics to cut through persisting preconceptions, he analyses their problems as a series of "traps"-conflict, natural resources, landlocked, and bad governance-before setting out an agenda to solve them including aid, military intervention, legal reforms and trade. There is much to be commended in the book-especially its accessible style and its quest to take a fresh and facts-based approach…

Devolution for Empowering the Poor: Institutions, norms and power Akmal Hussain and Savail Hussain

This paper examines the dialectic of power between the elite and the poor in the context of the decentralization of governance currently underway in Pakistan. On the basis of a historical analysis of the forms in which state power has been constituted, the paper indicates how the practice of elite power was associated with the emergence of an economic structure at the national level, which tended to generate poverty. The issue of economic efficiency at the local government level is examined for the first time in the context of the power dynamics between elected local elites and the bureaucracy. devolution…

The World Bank and the IMF in Africa: Strategy and routine in the generation of a failed agenda Howard Stein

This paper argues that more than any other region, Africa has been forced to feel the full effect of neo-liberalism due to its increasing dependence on bilateral and multilateral aid and paucity of alternative sources of capital. Meanwhile, the vision of development choreographed by the World Bank and the Fund continues to be captured by the same core principles and policies which have failed Africa in the last two decades. imf_africa (Download the full text in PDF format)

  • 1
  • 2