Discipline in the Global Economy?: International Finance and the End of Liberalism (New Political Economy)

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. Chapter 1: Introduction Part I: The Asian Crisis Chapter 2: Toward A Problematization Of The Asian Crisis Chapter 3: Understanding Asia's Crisis Chapter 4: What Happened To Asia? Chapter 5: The East Asia Crisis -- How Imf Policies Brought The World To The Verge Of A Global Meltdown Chapter 6: The Asian Debt- And Development Crisis Of 1997-?: Causes And Consequences Chapter 7: Two To Tango? Part Ii: Discipline In The Global Economy Chapter 8: Strengthening The International Financial Architecture Chapter 9: Michel Foucault's Analysis Of Disciplinary Power Chapter 10: Disciplining Economies Chapter 11: So What Is 'proper' Economy? Chapter 12: More Heat Than Light -- Anatomy Of A Regulatory Failure Chapter 13: The Post-washington Consensus Part Iii: The End Of Liberalism? Chapter 14: What Is Liberalism? Chapter 15: Liberalism -- The Invention Of 'the Economy' Chapter 16: Neoliberalism -- Governing Through Markets Chapter 17: So Is It The End Of Liberalism? Part Iv: A Way Forward Chapter 18: A New Regulation Of International Finance. Jakob Vestergaard. Includes Bibliographical References (p. [263]-278) And Index. This book investigates the new mode of global economic governance. Vestergaard argues that only by abandoning certain ' laissez-fairy tales' about liberalism, may we begin to understand our present condition, and open a space for critical thought in the face of an ever-more pervasive neoliberalism