Reviving the Invisible Hand: The Case for Classical Liberalism in the Twenty-first CenturyReviving 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. |
From inside the book
Results 1-5 of 57
... Human Face " 182 Introduction 182 Justice and Freedom 183 Rights 185 Social Paternalism and Dirigisme 187 Moral Paternalism and the New Victorians 189 Capitalism and Happiness 192 The Corporation under Attack 195 Conclusions 203 Chapter ...
... human face . " It no longer wishes to supplant the price mechanism through central planning but seeks to regulate the workings of the market economy to overcome purported " market failures " and to subserve various " moral " and ...
... human history and in many different cultures . For Marx , capitalism was " defined as the conjunction of capitalist ownership of the means of production with the wage laborer who has neither hearth or home . " But as Baechler shows ...
... human migration is one major form of risky and novelty - seeking behavior . Only a few of our species left their ancestral home in the African savannahs and began that long walk to the ends of the earth which allowed homo sapiens to ...
... human ancestors crossed the land bridges linking Asia to the Americas in the Ice Age , we should expect that those who walked farthest down the South American peninsula would have had the migratory gene . This turns out to be so , as ...
Contents
V | 17 |
VI | 20 |
VII | 22 |
VIII | 32 |
IX | 36 |
X | 40 |
XI | 48 |
XII | 52 |
XXXI | 139 |
XXXII | 150 |
XXXIII | 151 |
XXXIV | 154 |
XXXV | 157 |
XXXVI | 160 |
XXXVII | 165 |
XXXVIII | 180 |
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Reviving the Invisible Hand: The Case for Classical Liberalism in the Twenty ... Deepak Lal No preview available - 2008 |