IDSB06 Lecture 12.pdf

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University of Toronto Scarborough
International Development Studies
Peter Skrivanic

Lecture 12Tuesday April 05 20111108 AMEthical Concerns with EconomicsEthical concerns with Macroeconomic DevelopmentThe failure of development is to bring the haves and have nots closer to each other There have been pockets of improvement but no consistencyPrime minister of Japan People are a means not an end Fundamental capitalism Neoliberalism of Washington Consensus is different from Adam Smiths capitalismStiglitz Globalization and its Discontents International institutions are not solely economic instruments they are mergedwith geopolitical interest and ideology These policies are either failing or not working very wellEthical concerns of macroeconomic development policies todown neoliberal policies IMF World Bank stipulating strict conditions for economic and social policy reforms for aid1Orthodoxyrecipient countries A fundamentalism that cant create provisions that need to be customized not a cookie cutter model No negotiations or alternative models can be proposed No broadbased consultations with govts or any 2Antidemocratic practicemember of nation or global civil societyFundamental critique the neoliberal policies are ostensibly wanted to promote economic development in 3d world but didnt use these policies in the 1st worldThe policies have faired to fail implications SAPS PRSPSSince the 1980s SAPs were designed to restructure nation economies intended to help countries acehive long term accelerated growth In a few countries these neoliberal policies had some good effects but far more countries endured economic instabilities and entrenched povertyReduction of government services provisions education health care1Deregulation remove labour laws environmental protection health standards etc2Promote privatizationsell stateowned enterprises to private sector including schools etc3Promote an export economy focus on export pdouction by devlauing national economy4Increase aid to NGOs to try to resist SAPsPRSPs The International Finacial Insitutions replaced SAPs with PRSP because of two key reasonsGrowing research that policies have failed alongside politilcal pressure and popular resistance1Pressure to democratize de
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