INTD 200 Lecture Notes - Lecture 5: Authoritarianism, Meritocracy, 1997 Asian Financial Crisis
20 May 2016
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Dependency was seen as a failure because it was too protectionist (high tariffs caused. Rms not to be competitive so they had no revenue), also dependency and isi was focused on domestic market and it is limited in the developed world. 1980s, continents in severe debt asked for loans and this because the basis for. Neoliberalism was seen as a paradigm for economic development. The state was a major engine for development in these economies. They believe that economic growth will happen when the state does not play a crucial role in the market. It is important that you have economic freedom to facilitate development. The neoliberal position can be traced to the post-war economists. Hayek and friedman were against keynesianism and laissez faire . Friedman and hayek argued that the state was the problem of development and that it should recede and become only a supplier of public goods. In 1973, in chile, there was a dictatorship.
