Re: GLOBAL KEYNESIANISM

I seldom have much time to interact on this forum - as much as I enjoy it.
However, I have a great deal of difficulty with this statement. It is
incoherent, inconsistent and ahistorical.

Neoliberal capitalism is certainly not an ideal way of organizing Society,
but it still HAS SOME INBUILT CHECKS AND BALANCES AND WAYS FOR CITIZENS TO
EXPRESS THEIR DISCONTENT AND TO SUGGEST CHANGES. Such mechanisms have lost
some of their effectiveness lately and wealth has become much too
influential, but they are still working and can be used for needed reforms.


Neo-liberalism is based, in general, on principles of non intervention and 
on
the primacy of economics - the sole reliance on "the market" more 
specifically
on some kind of "invisible" appendage...

Can you answer some of these questions, please?

1. What, if not regulation and public policy (hardly economic "mechanisms") 
are
these checks and balances,
2. More importantly, how, exactly does neo-liberalism "organise society" -
albeit "not ideal".
3. The paragraph or the message contained in it is ahistorical because it
assumes taht the United States (for example) has ALWAYS been "a neo-liberal
country" and by extension cannot or fails to explain structural differences
between the US (today) and the US, say 200 years ago. it also fails to see 
or
cannot see the difference between the US today and, say, Togo, or Burkina 
Fasso.
For instance, what are the structural (spocial, political and economic)
differences between the US (today) and these sub-Saharan Countries, today? 
Or,
what is the difference between teh US, say 150 years ago and Togo, today - 
in
terms of development?

This above conception of neo-liberalism tends to resemble a super-athlete 
that
DEMANDS, or FORCES disabled, or incapacitated people to run in the same 
races as
other super-athletes, then says, there are mechanisms for voice or exit, but
predetermines that the race will go ahead regardless.

In general, "wealth" has always been important.

Ismail

Ismail Lagardien
Office of the Chief Economist and
Senior Vice President of
Development Economics
The World Bank
Washington DC
USA

202 473 9603

Visit the World Bank Chief Economist page at:
http://www.worldbank.org/knowledge/chiefecon/index.htm