Lost Causes: The Retreat from Classical Liberalism

Biteback Publishing
Free sample

Society is cracking. Lurching from economic disaster to social decay, our modern-day life is plagued by sickness. Deepak Lal, world-renowned economist, tackles the hidden roots of our problems in his visionary book Lost Causes. Providing a completely new framework for socio-economic understanding, Lal challenges received wisdom with a sure voice and shows how those in power have forgotten to take care of some of the fundamentals of everyday life. From a faltering NHS to the war on drugs, Lal reveals to the world the lost causes in its current malaise.
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About the author

The world’s pre-eminent development economist, Deepak Lal is the James S. Coleman Professor Emeritus of International Development Studies at the University of California at Los Angeles, and Professor Emeritus of Political Economy, University College London. He is past President of the Mont Pelerin Society and the author of many works including the widely acclaimed and highly influential The Poverty of Development Economics.
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Additional Information

Publisher
Biteback Publishing
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Published on
Mar 1, 2012
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Pages
123
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ISBN
9781849543170
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Language
English
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Genres
Political Science / General
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Content Protection
This content is DRM protected.
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Available on Android devices
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Eligible for Family Library

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Reviving 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.

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