Vestergaard, Jakob,

Discipline in the global economy? : international finance and the end of liberalism / Jakob Vestergaard. - viii, 288 pages : illustrations ; 24 cm. - New political economy . - New political economy (New York, N.Y.). .

Includes bibliographical references (pages 263-278) and index.

Introduction -- The Asian Crisis -- Toward a Problematization of The Asian Crisis -- Understanding Asia's Crisis -- What Happened to Asia? -- The East Asia Crisis - How IMF Policies Brought the World to the Verge of a Global Meltdown -- The Asian Debt- and Development Crisis of -- ?: Causes and Consequences -- Two To Tango? -- Discipline in the Global Economy -- Strengthening the International Financial Architecture -- Michel Foucault's Analysis of Disciplinary Power -- Disciplining Economies -- So What is 'Proper' Economy? -- More Heat Than Light - Anatomy of a Regulatory Failure -- The Post-Washington Consensus -- The End of Liberalism? -- What is Liberalism? -- Liberalism - The Invention of 'The Economy' -- Neoliberalism - Governing Through Markets -- So is it the End of Liberalism? -- A Way Forward -- A New Regulation of International Finance. 1. Part I. 2. 3. 4. 5. 6. 1997. 7. Part II. 8. 9. 10. 11. 12. 13. Part III. 14. 15. 16. 17. Part IV. 18.

"In Discipline in the Global Economy, Jakob Vestergaard investigates the currently prevailing regulation of international finance, launched in response to the financial crises of the 1990's. At the core of this approach is a set of standards of 'best practice', ranging from banking supervision to corporate governance. Vestergaard argues that although these standards are presented as 'international', they comprise a norm for the 'proper' organization and regulation of economies which is intimately related to the Anglo-American model of capitalism. With this approach to the regulation of international finance, previous deregulation policies were replaced by a comprehensive system for the global disciplining of economies. This is a remarkable, if not paradoxical, occurrence in what is allegedly the heyday of neoliberalism and 'free market economy'. Moreover, this mode of international financial regulation has proved ineffective, if not counter-productive, in terms of its objective to enhance the stability and resilience of the international financial system. Only by abandoning 'laissez-fairy tales' about liberalism may we begin to understand our present predicament - and open a space for critical thinking on modes of international economic governance that are at the same time more conducive to financial stability and more in line with the ethos of liberalism."--Publisher's website.

0415990319 9780415990318

2008034821


International Monetary Fund


Financial crises--Asia
Monetary policy--Asia
International finance.

HB3808 / .V47 2009

332.042095