By David Henderson, G. C. Harcourt, Geoffrey Owen
Within the final twenty-five years, many nations have launched into programmes of financial liberalisation. yet, David Henderson argues, it's a mistake to think that monetary liberalism has triumphed: anti-liberal forces are robust and in a few respects have received flooring. Henderson analyses those forces, new and outdated. as well as the ongoing carry of 'pre-economic ideas', new parts contain anti-market NGOs, a much wider circle of perceived 'victims of injustice', the unfold of labour marketplace law, and an 'alarmist consencus' approximately globalisation and environmental degradation. the combo of previous and new principles ends up in 'new millennium collectivism', which gives the most impetus in the back of the anti-liberalism of this day. Geoffrey Harcourt, in a observation, consents with a few of Henderson's perspectives, yet disagrees quite at the want for minimal criteria in labour markets. He contends additionally that Henderson is just too difficult on NGOs and too inspired with the long term aggressive equilibrium version. David Henderson responds to the reviews and units out extra concerns that must be explored.
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Extra resources for Anti-Liberalism 2000: The Rise of New Millennium Collectivism
Second, there is naturally a range of anti-liberal criticisms of the economic reform process that has been under way: I referred above to one or two of these, but there are other aspects that I have left untouched. More of this later. • Last, and the most influential of the three, the circle of supposed non-beneficiaries and victims has been widened; and within it, some of the non-beneficiaries have been reclassified as victims. As a result, the grounds for intervention have been further extended.
What is chiefly involved here is action, whether official or unofficial, to establish and enforce minimum international labour standards. This is often linked to the aim of defining and giving effect to an ever-growing list of so-called ‘positive’ human rights. Recent official action on these lines is to be seen in the Social Chapter of the European Union and in one of the side agreements of the North American Free Trade Agreement. Both the US and the European Union are now pressing for clauses relating to labour standards to be included in future international agreements relating to trade and direct investment.
Are they content to think in terms of continuing state monopoly provision in education, health and social services? • Do they want further inroads to be made on freedom of contract in the market for labour services? Conclusion On many of these issues, I suspect – indeed, I hope – that there may in fact be a good deal of common ground between those economists who think of themselves as liberals and those who do not, especially when the latter are admirers of Adam Smith. But the main impetus behind anti-liberalism 2000 does not come from within our profession, even though a good many of its members lend support to the cause.