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The book interrogates privatisation in terms of its effectiveness
vis-a-vis its stated goals and more fundamentally in terms of its
success in delivering economic development. It investigates why
privatisation was successful in the UK and other OECD countries and
why it has not met with equal success in developing countries. In
this regard, it further examines the policy prescriptions of the
IMF and World Bank in relation to the conceptualised benefits and
theoretical assumptions underlying these supposed benefits. The
author assesses the extent to which culture and customs, indeed the
mode of production, stand in determinate relationship to the goals,
techniques and outcome of the process. Furthermore, Chang examines
the degree to which socioeconomic and moral consequences of
privatisation have been ignored in pursuit of the ideological
imperative implicit in the Washington Consensus. Hence, the book
contributes to the reflective thought that must necessarily be part
of theory validation, and provides the basis for a balanced and
empirically-valid theory of privatisation.
The book interrogates privatisation in terms of its effectiveness
vis-a-vis its stated goals and more fundamentally in terms of its
success in delivering economic development. It investigates why
privatisation was successful in the UK and other OECD countries and
why it has not met with equal success in developing countries. In
this regard, it further examines the policy prescriptions of the
IMF and World Bank in relation to the conceptualised benefits and
theoretical assumptions underlying these supposed benefits. The
author assesses the extent to which culture and customs, indeed the
mode of production, stand in determinate relationship to the goals,
techniques and outcome of the process. Furthermore, Chang examines
the degree to which socioeconomic and moral consequences of
privatisation have been ignored in pursuit of the ideological
imperative implicit in the Washington Consensus. Hence, the book
contributes to the reflective thought that must necessarily be part
of theory validation, and provides the basis for a balanced and
empirically-valid theory of privatisation.
The collapse of the American financial system in 2008 has brought
the weaknesses of the edifice of financial risk management, upon
which the Anglo-American economic model has been premised since the
1980s, into sharper focus. It has also given rise to the larger
question regarding the certainty and, thus, the viability of
free-market capitalism as a universal economic system; however,
while there are several erudite accounts of the collapse of the
financial system and its immediate aftermath, very little space has
been given to addressing the larger question. As such, Aggressive
Capitalism offers a frank and honest assessment of the
opportunities and challenges ahead for both the US and the wider
world. This book examines the leading economic, political, and
social issues not only in the context of the several rational
choice theories that have come to inform behavior since the late
1960s, but also in context of the emergence of the BRIC countries,
primarily China, as a challenge to entrenched Western interests.
Coexistence in an atmosphere of mutual respect in a pluralist world
order has become an even greater challenge in the practice of
international relations since the murderous acts committed by
al-Qaeda on September 11, 2001 (9/11) that demanded justice. This
book looks beyond today's popular narratives. Dr. Chang explores
the extent to which the tragedy of 9/11 has been exploited by the
neoconservative-controlled U.S. administration as opportunity to
launch its grand strategy for creating an American-centric order,
necessary for the continuation of U.S. hegemony in the twenty-first
century. Specific controversial concerns are extensively examined
within the historical and theoretical context of territoriality and
power. The state of the American economy; the Arab-Israel conflict;
and the invasion of Iraq and its aftermath are treated as
interrelated issues and examined in terms of the Westernization
imperative inherent in the grand strategy that principally requires
the containment of an emerging China.
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