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Monetarism, Economic Crisis and the Third World (Paperback)
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Monetarism, Economic Crisis and the Third World (Paperback)
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First Published in 1983. This book is a contribution to the debate
about Monetarism as an economic policy, and whether and how
Monetarist policies can contribute to solving the current economic
crisis. The diverse backgrounds and opinions of the distinguished
economists writing in this volume, some supportive and some
critical of Monetarism, ensure a variety of interpretations of the
causes of, and responses to, the crisis. Overall, however, the book
lays emphasis on two related factors which are frequently neglected
in the current debates. Firstly, that the current economic crisis
is a world crisis which is felt concomitantly, though in different
forms and with different intensities, in the industrial countries,
in the countries of the socialist bloc, and in the Third World. And
although its manifestations in the industrial and in the developing
countries have been quite different, the proposed policy answer has
been fairly homogeneously Monetarist. Secondly, the message occurs
throughout the book that in today's highly integrated world
economy, national economic policies have lost much of their
autonomy; Monetarist policies should therefore be assessed as to
their consistency with external conditions and their effects on
other countries. The contributors analyse the manifestations of the
economic crisis in various parts of the world and give their
individual views on Monetarist policies. Obviously there is no
agreement, but that is not the purpose of this volume: its aim is
to place the Monetarism discussion in the international context in
which it should be conducted.
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