Mexico's Economic Dilemma: The Developmental Failure of Neoliberalism (Critical Currents in Latin American Perspective Series)

Written by two leading scholars, this book provides a detailed analysis of Mexico's political economy. James M. Cypher and Raúl Delgado Wise begin with an examination of Mexico's pivotal economic crisis of the 1980s and the consequent turn toward an export-led economy, later anchored by NAFTA. They show how Mexico, after abandoning frequently successful past practices of state-led development, disastrously tied its future to an unconditional reliance on foreign corporations to promote an export-led growth strategy. Focusing on Mexico's cheap labor export model, the authors use the maquiladora sector and the auto industry as case studies of the perils of globalization—the "race to the bottom" as capital becomes ever more international. The government's unconstrained free-market policies, they convincingly argue, have resulted in a fragmented economy marked by stagnation, falling wages, informal part-time employment, and massive migration, which define daily life for all but a tiny minority. This Is Surely The Best Treatment Of Modern Mexican Economic History And The Development Of An Unending Crisis. Mexico's Close Linking To The United States Through Nafta Produced An Acute Vulnerability To The Great Crisis, And This Mexico's Current Condition Ought To Be An Acute Embarrassment To The Architects Of Neoliberal Globalization.--james K. Galbraith, University Of Texas At Austin; Author Of The Predator Sate: How Conservatives Abandoned The Free Market And Why Liberals Should Too In The Early 1980's Mexico, As Did Many Countries Around The World, Adopted The Economic Policies And Institutions Propounded By The Milton Friedman School Of Neoliberalism. Twenty-five Years Later, The Results Have Been Extremely Disappointing, And Mexico Is In The Midst Of A Deep Socioeconomic Crisis. In Order To Understand What Has Happened, An Alternative Political Economy Approach Is Needed, Because, As Albert Schweitzer Once Noted: 'theory Determines What We Look For.' James Cypher And Raul Delgado Wise Provide Just That: A Political Economy Approach That Is Based Not On Individualistic Rational Economic Behavior Assumptions But On A Wide-ranging, Historically-based Socioeconomic And Political Analysis. The Authors Place The Mexican Case In The Context Of Its Quite Successful Earlier Development Period, Of Its Decline And Demise, Of The Accelerating Globalization Of Capitalism And In Particular Of The Close Integration Of Mexico With The United States. They Analyze In Depth The Critical Role Of The Maquila And 'disguised' Maquila Sectors, And In A Most Interesting And Original Contribution, The Effects Of Migration Both In Mexico And The United States. The Book Is Well Written, Firmly Based On Ample And Solid Empirical Evidence, And Supported By Painstaking Field Research And A Thorough Review Of The Relevant Literature. It Is An Eye-opener And A Must For Anyone Who Wants To Really Understand Contemporary Mexico's Economy And Society--and In Fact For All Those Interested In The Darker Side Of The Globalization Process.--osvaldo Sunkel, University Of Chile--jacket. Mexico's Socioeconomic Structure And The Current Crisis -- The Political Economy Of Mexico's Export-led Model -- Nafta: U.s. Restructuring, Mexico's Realignment -- The Maquiladora Sector: Building Block Of Mexico's Export-led Model -- The Disguised Maquila Sector And Beyond -- The Direct Exportation Of Mexican Labor -- The International Political Economy Of Capital Restructuring. James M. Cypher And Raúl Delgado Wise. Includes Bibliographical References And Index. ""This is surely the best treatment of modern Mexican economic history and the development of an unending crisis. Mexico's close linking to the United States through NAFTA produced an acute vulnerability to the Great Crisis, and this Mexico's current condition ought to be an acute embarrassment to the architects of neoliberal globalization."-James K. Galbraith, University of Texas at Austin; author of The Predator Sate: How Conservatives Abandoned the Free Market and why Liberals Should Too" ""In the early 1980's Mexico, as did many countries around the world, adopted the economic policies and institutions propounded by the Milton Friedman school of neoliberalism. Twenty-five years later, the results have been extremely disappointing, and Mexico is in the midst of a deep socioeconomic crisis. In order to understand what has happened, an alternative political economy approach is needed, because, as Albert Schweitzer once noted: 'theory determines what we look for.'" ""James Cypher and Raul Delgado Wise provide just that: a political economy approach that is based not on individualistic rational economic behavior assumptions but on a wide-ranging, historically based socioeconomic and political analysis. The authors place the Mexican case in the context of its quite successful earlier development period, of its decline and demise, of the accelerating globalization of capitalism and in particular of the close integration of Mexico with the United States. They analyze in depth the critical role of the maquila and 'diguised' maquila sectors, and in a most interesting and original contribution, the effects of migration both in Mexico and the United States.". ""The book is well written, firmly based on ample and solid empirical evidence, and supported by painstaking field research and a thorough review of the relevant literature. It is an eye-opener and a must for anyone who wants to really understand contemporary Mexico's economy and society-and in fact for all those interested in the darker side of the globalization process."-Osvaldo Sunkel, University of Chile"--BOOK JACKET. Mexico's socioeconomic structure and the current crisis The political economy of Mexico's export-led model Nafta: U.S. restructuring, Mexican realignment The maquiladora sector: building block of Mexico's export-led model The disguised maquila sector and beyond The direct exportation of Mexican labor The international political economy of capital restructuring.