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The Neoliberal Policy Paradigm and the Great Recession

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  • Howard Stein

    () (Department of Afroamerican and African Studies, University of Michigan, USA)

Abstract

The paper examines the relationship between neoliberal policies and the Great Recession with a focus on the persistence of the policy paradigm in spite of overwhelming evidence of its role in creating the crisis. These economic problems are only the latest that have arisen in the wake of the three long decade experiment with these policy packages. The paper investigates the ideological, methodological, historical, theoretical, political and economic interests underlying the perpetuation of neoliberalism.

Suggested Citation

  • Howard Stein, 2012. "The Neoliberal Policy Paradigm and the Great Recession," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 59(4), pages 421-440, September.
  • Handle: RePEc:voj:journl:v:59:y:2012:i:4:p:421-440
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    References listed on IDEAS

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    1. Vreeland,James Raymond, 2003. "The IMF and Economic Development," Cambridge Books, Cambridge University Press, number 9780521816755.
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    4. Kosta Josifidis & Alpar Lošonc & Novica Supić, 2010. "Neoliberalism: Befall or Respite?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(1), pages 101-117, March.
    5. Dreher, Axel, 2006. "IMF and economic growth: The effects of programs, loans, and compliance with conditionality," World Development, Elsevier, vol. 34(5), pages 769-788, May.
    6. Mark Weisbrot & Rebecca Ray & Jake Johnston & Jose Antonio Cordero, 2009. "IMF-Supported Macroeconomic Policies and the World Recession: A Look at Forty-One Borrowing Countries," CEPR Reports and Issue Briefs 2009-37, Center for Economic and Policy Research (CEPR).
    7. Gary A. Dymski, 2011. "Limits of Policy Intervention in a World of Neoliberal Mechanism Designs: Paradoxes of the Global Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(3), pages 285-308, September.
    8. Phillip Anthony O’Hara, 2011. "International Subprime Crisis and Recession: Emerging Macroprudential, Monetary, Fiscal and Global Governance," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 1-17, March.
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    Citations

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    Cited by:

    1. Phillip Anthony O’Hara, 2014. "Political Economy of Love: Nurturance Gap, Disembedded Economy and Freedom Constraints within Neoliberal Capitalism," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(2), pages 161-192, March.
    2. Mary Wrenn, 2014. "Identity, Identity Politics, and Neoliberalism," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(4), pages 503-515, September.
    3. Pascal Petit, 2013. "France and Germany Nuclear Energy Policies Revisited: A Veblenian Appraisal," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(5), pages 687-698, September.
    4. Kosta Josifidis & Alpar LosÌŒonc, 2014. "Some Thoughts on Power: International Context," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(5), pages 597-615, October.
    5. João Sousa Andrade & António Portugal Duarte, 2014. "Output-gaps in the PIIGS Economies: An Ingredient of a Greek Tragedy," GEMF Working Papers 2014-06, GEMF, Faculty of Economics, University of Coimbra.

    More about this item

    Keywords

    Neoliberalism; Great recession; IMF; Africa; European community;

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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