Development Redefined : How the Market Met Its Match book cover
1st Edition

Development Redefined
How the Market Met Its Match

ISBN 9781594515231
Published August 30, 2008 by Routledge
160 Pages

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Book Description

Rejecting the "flat worldism" of the globalists as well as the peaks and valleys of trade and aid policies over the years, Robin Broad and John Cavanagh guide us through the raging debate over the best route to development for the poorer nations of Africa, Asia, and Latin America. This book takes readers on a journey through the rise and fall of the one-size-fits-all model of development that richer nations began imposing on poorer ones three decades ago. That model-called the "Washington Consensus" by its backers and "neoliberalism" or "market fundamentalism" by its critics-placed enormous power in markets to solve the problems of the poor. The authors have stood at the epicenter of these debates from their perches in the United Nations, the U.S. government, academia, and civil society. They guide us back in time to understand why the Washington Consensus dominated for so long, and how it devastated workers, the environment, and the poor. At the same time, they chart the rise of an "alter-globalization" movement of those adversely affected by market fundamentalism. Today, this movement is putting alternatives into action across the globe, and what constitutes development is being redefined. As the authors present this dramatic confrontation of paradigms, they bring into question the entire conventional notion of "development," and offer readers a new lens through which to view the way forward for poorer nations and poorer people. This brief history of development connects an arcane world with contemporary forces of globalization, environmental degradation, and the violation of perhaps the essential human right: to be considered individually, equally, in an economically viable world and way.


“A timely, thought-provoking work. Recommended."

“Development Redefined offers an invaluable rethinking of development theory and practice by two of the world’s most respected scholars/citizens. Their experience, insight, knowledge, activist commitment, and engaging style make this book indispensable reading for anyone concerned with global economic justice and making the world a better place.”
—Richard Falk, professor at Princeton University and the University of California—Santa Barbara, a prolific author in international studies

“The gripping story of the big lies, the sly co-optations and the backroom deals that disguised a fierce contest as a fake consensus. This is a people’s history of the rise of corporate rule and there could be no more trusted or surefooted guides than Robin Broad and John Cavanagh.”
—Naomi Klein, author of The Shock Doctrine

“To end poverty, it is critical to understand its roots. Broad and Cavanagh dig deep to uncover the origins of poverty and they offer paths to a better future.... A terrific antidote to the popular misconceptions spread by Thomas Friedman and Jeffrey Sachs.”
—Vandana Shiva, founder of the Research Foundation for Science, Technology, and Ecology in India, and author of numerous books, including Water Wars and Earth Democracy

“A hard-hitting chronicle of the rise and fall of the Washington Consensus, followed by a fascinating discussion of a dazzling array of alternatives to a failed doctrine. Authored by leading public scholars who played a role in the demise of neoliberalism, this book shows that scores of ideologically-driven World Bank and International Monetary Fund studies are no match for tough analysis combined with imaginative thinking.”
—Walden Bello, award-winning author of over a dozen books on globalization and professor at the University of the Philippines