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In Discipline in the Global Economy, Jakob Vestergaard investigates the currently prevailing regulation of international finance, launched in response to the financial crises of the 1990’s. At the core of this approach is a set of standards of ‘best practice’, ranging from banking supervision to corporate governance. Vestergaard argues that although these standards are presented as ‘international’, they comprise a norm for the ‘proper’ organization and regulation of economies which is intimately related to the Anglo-American model of capitalism. With this approach to the regulation of international finance, previous deregulation policies were replaced by a comprehensive system for the global disciplining of economies. This is a remarkable, if not paradoxical, occurrence in what is allegedly the heyday of neoliberalism and ‘free market economy’. Moreover, this mode of international financial regulation has proved ineffective, if not counter-productive, in terms of its objective to enhance the stability and resilience of the international financial system. Only by abandoning ‘laissez-fairy tales’ about liberalism may we begin to understand our present predicament– and open a space for critical thinking on modes of international economic governance that are at the same time more conducive to financial stability and more in line with the ethos of liberalism.
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cover next page > Cover title: author: publisher: isbn10 | asin: print isbn13: ebook isbn13: language: subject publication date: lcc: ddc: subject: Discipline in the Global Economy? : International Finance and the End of Liberalism New Political Economy (New York, N.Y.) Vestergaard, Jakob. Taylor & Francis Routledge 0415990319 9780415990318 9780203882498 English International Monetary Fund, Financial crises--Asia, Monetary policy--Asia, International finance. 2009 HB3808.V47 2009eb 332/.042095 International Monetary Fund, Financial crises--Asia, Monetary policy--Asia, International finance. cover next page > Page i Discipline in the Global Economy? cover next page > Cover title: author: publisher: isbn10 | asin: print isbn13: ebook isbn13: language: subject publication date: lcc: ddc: subject: Discipline in the Global Economy? : International Finance and the End of Liberalism New Political Economy (New York, N.Y.) Vestergaard, Jakob. Taylor & Francis Routledge 0415990319 9780415990318 9780203882498 English International Monetary Fund, Financial crises--Asia, Monetary policy--Asia, International finance. 2009 HB3808.V47 2009eb 332/.042095 International Monetary Fund, Financial crises--Asia, Monetary policy--Asia, International finance. cover next page > Page ii New Political Economy RICHARD MCINTYRE, General Editor Political Economy from Below Economic Thought in Communitarian Anarchism, 1840–1914 Rob Knowles Structuralism and Individualism in Economic Analysis The “Contractionary Devaluation Debate” in Development Economics S. Charusheela Encoding Capital The Political Economy of the Human Genome Project Rodney Loeppky Miracle for Whom? Chilean Workers under Free Trade Janine Berg Market Sense Toward a New Economics of Markets and Society Philip Kozel The African-Asian Divide Analyzing Institutions and Accumulation in Kenya Paul Vandenberg Everyday Economic Practices The “Hidden Transcripts” of Egyptian Voices Savvina A. Chowdhury Prison Labor in the United States An Economic Analysis Asatar P. Bair New Deal Banking Reforms and Keynesian Welfare State Capitalism Ellen D. Russell Rethinking Municipal Privatization Oliver D. Cooke The Political Economy of European Union Competition Policy A Case Study of the Telecommunications Industry Tuna Baskoy Discipline in the Global Economy? International