By V. Spi Peterson
Relocating past a slim definition of economics, this pioneering publication advances our wisdom of worldwide political economic climate and the way we'd severely reply to it.V. Spike Peterson essentially indicates how key positive aspects of the worldwide economic climate more and more verify daily lives around the world. the 1st is explosive development in monetary markets that form enterprise decision-making and public policy-making, and the second one is dramatic progress in casual and versatile paintings preparations that form income-generation and kinfolk wellness. those advancements, even though well known, are infrequently analyzed as inextricable and interacting dimensions of globalization. utilizing a brand new theoretical version, Peterson demonstrates the interdependence of reproductive, efficient and digital economies and analyzes inequalities of race, gender, type and kingdom as structural gains of neoliberal globalization. offering a methodologically plural, cross-disciplinary and well-documented account of globalization, the writer integrates marginalized and disparate positive factors of globalization to supply an available narrative from a postcolonial feminist vantage aspect.
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Additional info for A Critical Rewriting of Global Political Economy: Integrating Reproductive, Productive and Virtual Economies (Routledge Ripe Studies in Global Political Economy)
Neoliberalism as the global regime – embodied in the formidable “rule setting” power of the International Monetary Fund (IMF), World Bank, World Trade Organization (WTO) – has favored further concentration of class advantages. Initially in developing countries through structural adjustment policies, and increasingly in developed countries, neoliberal reforms have constrained redistributive efforts and imposed tight ﬁscal policies without, however, clamping down on “what in effect amounts to tax evasion by the wealthy through offshore ﬁnance facilities” (Scholte 2000, 241).
Advocates assume that globalization “is inevitable and beneficial to all countries willing to pursue the prescribed policies. Production and trade based on comparative advantage is expected to bring about greater growth and a rise in standards of living everywhere through a better division of labor, bigger economies of scale, the ﬂow of investment toward activities with the highest returns, and lower prices. . [Proponents view] adverse effects as temporary and small, and attribute 6 Context and objectives the growing wage inequality or persistent unemployment to technological change, rather than import competition” (Berik 1999, 404).
The latter claim flows from a denial of power as embedded in and pervading knowledgemaking practices. We might say that these players subscribe to a positivist view of power as external to – not an aspect or product of – their intellectual activities. To pursue the analogy, like enthusiasts for neoliberalism, enthusiasts for positivism acknowledge some adverse effects, but argue that the game and its rules are either inescapable or not themselves the problem. These conceptual premises however have material consequences, not least because they fuel inattention to and thus – inadvertently or otherwise – reproduce global inequalities.
A Critical Rewriting of Global Political Economy: Integrating Reproductive, Productive and Virtual Economies (Routledge Ripe Studies in Global Political Economy) by V. Spi Peterson