Free Market Fundamentalism/ Globalization

Discussion in 'Economics' started by TrendyMohawk, Oct 2, 2005.

  1. I would suspect that the vast majority ot ETers are pro free markets. It would be interesting to know what the percentage of efficient market adherents is. Probably low.

    Does anybody have any good suggestions for books that discuss alternative strategies for eliminating poverty in developing countries? The books would be along the lines of sustained growth/ anti- globalization. I am looking for books with objectively successful stories in different regions, not screeds with loopy untested ideas.

    I can't find anything interesting so far. It is kind of crazy that so much public policy money is being thrown around without some good books out there.

    Thanks in advance.
  2. I don't think you will find anything useful along that line. Books in that field do not explain success stories, because none are compatible with anti-globalization theories. Most often these books infer theory from mishaps especially in Africa. A prominent writer can be considered Noreena Hertz, though I think you will find the books low on content and with many wrong conclusions.

    Most material explaining success stories is based on institutional factors, a legal framework (property rights, ..), well working financial markets, tackling corruption, but also open markets. Globalization is not even the crucial factor is this summary, the domestic framework is of more importance.
  3. I'll check some of her stuff out.

    With so many critics of globalization in developing countries and with so much money being thrown at untested theories, there should be some examples of alternative models being successful. I cannot think of any. A good ref is about all the critics can probably wish for.

    Globalization comes after the country is at least a nation state. Nike is not opening a plant in Zimbabwe or Sudan.

  4. Globalization is a theme in The Constant Gardener that just came to movie theaters recently. The villain pharma company does it's clinical trials in Africa where the drug trial budget goes further in faking results and hiding the dead patients.

    Timely movie. Brutal too. The audience is silent when they shuffle out afterwards. It will win awards.

  5. Sounds like an interesting plot but the US probably would not accept the results of clinical trials done in Africa. I guess the big pharma company would market the drugs in Europe?
  6. yeah, so would i. however, when you read the posts, you see most of them are socialists who don't even know it.
  7. Its probably the shipping costs/access thats prevents Nike from opening slave labor camps there. Once the camps start demanding $1 a day in Asia for making $100 shoes, Nike will most certainly look for the 10 cent a day workers in Africa.
  8. Yes, the citizens of Zimbabwe not making 99 cents a day are unable to sign up at the local Nike slave labor camp because Nike is deterred by shipping costs. Also, Nike is deterred by property rights concerns, political upheaval, rampant corruption etc.

    Lots of critics but solution?
  9. Unless of course there is a profit in it for the drug companies which they'll happily share with politicians making donations to their campaigns and hiring their ignorant children as consultants at $500 hr. Not only will it then be quickly accepted by the US, it will be trumpeted as another huge victory for free trade, major benefit for the american consumer and african labor.
  10. That's drugs get passed in this country. Did you know that Cheney is trading oil stocks and lumber futures in a secret Swiss Account?
    #10     Oct 2, 2005