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Uneven Centuries$
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Sevket Pamuk

Print publication date: 2018

Print ISBN-13: 9780691166377

Published to Princeton Scholarship Online: May 2019

DOI: 10.23943/princeton/9780691166377.001.0001

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Neoliberal Policies and Globalization

Neoliberal Policies and Globalization

(p.245) 11 Neoliberal Policies and Globalization
Uneven Centuries

Şevket Pamuk

Princeton University Press

This chapter shows that, while obstacles to international capital movements were removed in many countries, the obstacles in the way of international labor movements remained in place. At the same time, legal and technological changes weakened the labor unions and more generally the bargaining capacity of labor in many countries. As a result, the benefits of economic growth in the new era were distributed unequally between capital and labor. In addition, the Asian crisis at the end of the 1990s created difficulties for many developing countries and demonstrated the risks associated with financial globalization. Furthermore, the global economic crisis that began in 2008 led to a sharp decline in output followed by slow recovery in the developed countries.

Keywords:   labor movements, capital movements, technological changes, labor unions, economic growth, Asian crisis, financial globalization

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