Cover image for Reviving the Invisible Hand : The Case for Classical Liberalism in the Twenty-first Century.
Reviving the Invisible Hand : The Case for Classical Liberalism in the Twenty-first Century.
Title:
Reviving the Invisible Hand : The Case for Classical Liberalism in the Twenty-first Century.
Author:
Lal, Deepak.
ISBN:
9781400837441
Personal Author:
Physical Description:
1 online resource (335 pages)
Contents:
Cover -- Contents -- PREFACE -- Introduction -- The Origins of "Capitalism" -- Globalization -- Chapter 1 Liberal International Economic Orders -- Mercantilism -- The Nineteenth-Century LIEO -- Pax Britannica and Economic Development -- The End of the First LIEO -- Recreating a New LIEO -- Chapter 2 From Laissez Faire to the Dirigiste Dogma -- Classical Liberalism and Laissez Faire -- Poverty and Industrialization in Nineteenth-Century Britain -- "Manna from Heaven" Distributivism -- Competition and Monopoly -- The Rise of "Embedded Liberalism" in the United States -- Chapter 3 The Changing Fortunes of Free Trade -- The Rise, Fall, and Rise of Free Trade -- U.S. Economic Policy -- The New Protectionism -- The Rise of Preferential Trading Arrangements -- Another Globalization Backlash? -- Adjustment Assistance? -- Whither the WTO? -- APPENDIX: FREE TRADE AND LAISSEZ FAIRE IN THEORY -- Chapter 4 Money and Finance -- International Monetary Regimes -- International Capital Flows -- The Global Financial Infrastructure -- Chapter 5 Poverty and Inequality -- Poverty Head Counts -- Income Gaps -- Foreign Aid -- Chapter 6 Morality and Capitalism -- Introduction -- Analytical Framework -- Changing Material and Cosmological Beliefs -- Communalism versus Individualism -- From Victorian Virtues to Modern Values -- Modernization and Westernization -- Conclusions -- Chapter 7 "Capitalism with a Human Face" -- Introduction -- Justice and Freedom -- Rights -- Social Paternalism and Dirigisme -- Moral Paternalism and the New Victorians -- Capitalism and Happiness -- The Corporation under Attack -- Conclusions -- Chapter 8 The Greens and Global Disorder -- Introduction -- The Rise of the NGOs -- Sustainable Development -- The Greens and Ecological Imperialism -- Toward World Disorder -- Chapter 9 Conclusions -- Notes -- Bibliography -- Index -- A -- B -- C -- D.

E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W -- Y -- Z.
Abstract:
Reviving the Invisible Hand is an uncompromising call for a global return to a classical liberal economic order, free of interference from governments and international organizations. Arguing for a revival of the invisible hand of free international trade and global capital, eminent economist Deepak Lal vigorously defends the view that statist attempts to ameliorate the impact of markets threaten global economic progress and stability. And in an unusual move, he not only defends globalization economically, but also answers the cultural and moral objections of antiglobalizers. Taking a broad cross-cultural and interdisciplinary approach, Lal argues that there are two groups opposed to globalization: cultural nationalists who oppose not capitalism but Westernization, and "new dirigistes" who oppose not Westernization but capitalism. In response, Lal contends that capitalism doesn't have to lead to Westernization, as the examples of Japan, China, and India show, and that "new dirigiste" complaints have more to do with the demoralization of their societies than with the capitalist instruments of prosperity. Lal bases his case on a historical account of the rise of capitalism and globalization in the first two liberal international economic orders: the nineteenth-century British, and the post-World War II American. Arguing that the "new dirigisme" is the thin edge of a wedge that could return the world to excessive economic intervention by states and international organizations, Lal does not shrink from controversial stands such as advocating the abolishment of these organizations and defending the existence of child labor in the Third World.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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