- By Robert Pollin

Contours of Descent: US Economic Fractures and the Landscape of Global Austerity

  • Title: Contours of Descent: US Economic Fractures and the Landscape of Global Austerity
  • Author: Robert Pollin
  • ISBN: 9781844675340
  • Page: 373
  • Format: Paperback
  • Contours of Descent US Economic Fractures and the Landscape of Global Austerity In the past twenty five years the free market neoliberal model has been hailed as a panacea for economic ills in both the advanced economies and the developing world Pollin dissects this model as it h

    In the past twenty five years the free market neoliberal model has been hailed as a panacea for economic ills in both the advanced economies and the developing world Pollin dissects this model as it has been implemented in the US during the Clinton and Bush administrations under Greenspan s Chairmanship of the Federal Reserve, and in developing countries under the auspiceIn the past twenty five years the free market neoliberal model has been hailed as a panacea for economic ills in both the advanced economies and the developing world Pollin dissects this model as it has been implemented in the US during the Clinton and Bush administrations under Greenspan s Chairmanship of the Federal Reserve, and in developing countries under the auspices of the IMF.Clinton s Third Way policies were hailed as combining a pro business stance with social responsibility This approach seemed to be vindicated by the extraordinary fall in both inflation and unemployment In fact, the apparent successes of the Clinton years were based on anti labor policies, the stagnation of real wages, deregulation of financial markets, and an historically unprecedented stock market boom Even before 9 11 there were indications that the Clinton bubble would collapse into recession Bush s response was to give big tax breaks to the rich, introduce anti labor measures, and cut social spending at both the federal and state levels.Both Clinton and Bush have applied free market policies only selectively within the US itself, when such policies have most benefited the interests of business At the same time, through the IMF, the US has compelled developing countries to slash public spending, deregulate financial markets and dismantle trade barriers virtually across the board Argentina s embrace of this policy package culminated in financial ruin Throughout Asia and Africa, sweatshops and poverty are the testaments to a bankrupt economic model.Pollin concludes by exploring concrete proposals that would promote full employment, economic growth and increased equality in the US and throughout the less developed countries, drawing ong the spreading movements for living wages, the Tobin Tax on financial speculation, and generally workable alternatives to neoliberal globalization.

    1 thought on “Contours of Descent: US Economic Fractures and the Landscape of Global Austerity

    1. Is it possible to critique the Washington consensus using its language?[Through my ratings, reviews and edits I'm providing intellectual property and labor to Inc listed on Nasdaq, which fully owns and in 2013 posted revenues for $74 billion and $274 million profits. Intellectual property and labor require compensation. Inc. is also requested to provide assurance that its employees and contractors' work conditions meet the highest health and safety standards at all the company's sites].Well-m [...]

    2. NEOLIBERALISM, THE CLINTON "BOOM" AND PROSPECTS FOR REFORM Robert Pollins short 2003 book, "Contours of Descent", focuses on the record of the American economy during the Neoliberal era with particular regard to the Clinton boom, and the first two years of the Bush II administration which the author claims is the most partisan for the rich, and anti-labour in decades.The record of the much acclaimed Clinton boom is hardly fantastic, and put in the context of the post war American economy it is a [...]

    3. It's like the Clinton and Bush administrations demonstrated the unholy union of neoliberalis and neoconservatism.

    4. Changed my life. I don't know if I would be as captivated with it now, but I introduced economics to me and I took it from there.

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