Has the far-reaching experiment in creating a new world order along
neoliberal lines succeeded? John Rapley answers with an emphatic
no, contending that the rosy picture painted by neoliberal
proponents of globalization was based on false assumptions. True,
Rapley acknowledges, neoliberal reforms often did generate economic
growth - but at a price. The resulting increase in inequality led
to political instability and spawned tendencies ranging from
right-wing populism to renewed ethnic and Islamic militancy. Rapley
offers a range of cases to illustrate how neoliberal globalization
has helped to destroy regimes in the developing world by profoundly
altering patterns of income distribution and resource allocation.
The political tensions unleashed by these regime crises, he argues,
are now being manifested around the globe, with the negative
consequences still to be fully realized.
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