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Paths of Development in the Southern ConeTransition from ISI to Neoliberalism

Paths of Development in the Southern Cone: Transition from ISI to Neoliberalism [In this chapter the transition from ISI and the rise of neoliberalism is presented, as exemplified by the Mont Pèlerin Group and the four different dimensions of neoliberalism are considered: political, economic theory, ideology, and the real economy dimension. A brief summary of the accumulation crisis of the 1970s, exacerbated by the oil crisis is presented, followed by an examination of the recycling of petrodollars for the promotion of debt, especially for Latin America, pushing some to industrialize (Brazil, Mexico) and others to deindustrialize (Argentina) and the steady shift toward finance. The combination of the increasing dominance of monetarism in economic analysis and policy, and the debt crisis, culminated in the establishment of a new phase of global capitalism, namely neoliberal globalization dominated by transnational capital, as reflected in the Washington Consensus.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Paths of Development in the Southern ConeTransition from ISI to Neoliberalism

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-67672-8
Pages
61 –84
DOI
10.1007/978-3-030-67673-5_3
Publisher site
See Chapter on Publisher Site

Abstract

[In this chapter the transition from ISI and the rise of neoliberalism is presented, as exemplified by the Mont Pèlerin Group and the four different dimensions of neoliberalism are considered: political, economic theory, ideology, and the real economy dimension. A brief summary of the accumulation crisis of the 1970s, exacerbated by the oil crisis is presented, followed by an examination of the recycling of petrodollars for the promotion of debt, especially for Latin America, pushing some to industrialize (Brazil, Mexico) and others to deindustrialize (Argentina) and the steady shift toward finance. The combination of the increasing dominance of monetarism in economic analysis and policy, and the debt crisis, culminated in the establishment of a new phase of global capitalism, namely neoliberal globalization dominated by transnational capital, as reflected in the Washington Consensus.]

Published: Dec 9, 2021

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