THE FALSE DILEMMA
Globalization: Opportunity or Threat?

By Oscar Ugarteche.
A radical economic analysis of underdevelopment, from a Latin American perspective

his book argues that the economic framework of neo-liberalism and globalization is forcing a false dilemma on the nations of the South. The idea that they must integrate their economies into the global economy by means of export-led growth, or risk economic marginalisation and stagnation, runs counter to the actual evidence of economic history. Nor is it inevitable that state and market be in diametric opposition. With clarity, wit and abundant empirical evidence, the author explores the internal inconsistencies of neoliberal economic theory. The fundamental question is not whether to export, but why. And the ultimate goal of any country's economic policy must be the development of the internal market and the pursuit of social wellbeing. He laysout the case for a strong, innovative and interventionist state that mediates private interests with the larger national interest. The South must reject the false logic of globalization that there is no choice, and recognise instead  that the real folly is to integrate with the global market without developing the internal market.

Oscar Ugarteche, a contruibutor of Ciberayllu, is an economic consultant and former professor of international finance at the Catholic University of Peru. He is the author of numerous books on foreign debt and development issues, published in various Latin American countries.

CONTENTS

Prologue

1. Old Debates and New on Globalization and International Trade
   De-linking: Samir Amin's Proposal - Globalization: Ohmae's Proposal - A Synthesis of the Classical Debate between Liberals and Mercantilists - Mercantilism in Latin America - The State vs Market Debate
2. Systemic Crisis and Technological Change: A View from Latin America
   The Productivity Crisis in Advanced Capitalist Countries - The Recession in OCDE Countries - The Characteristics of Technological Change and its Impact on Latin America - The Systemic Crisis, Technological Change and its Impact on Latin America: A Hypothesis and a Proposal
3. Trends in Industrialization and Foreign Trade
   The Industrialization Crisis - Asian Industrialization versus Latin American Industrialization - A Note on the Process of Import Substitution - The Conditions for Industrialization - Some Conclusions
4. Globalization, Competitiveness and New Trade Patterns
   Forms of Competitiveness: A new way of saying productivity - Globalization - New Patterns of World Trade - Specialization among Recently Industrialized Latin American Countries compared to Asian Ones
5. The Export-Led Growth Model: the Theory, the Debate, the Evidence
   The Theory - The Debate - Latin America: the Long-Term Evidence - The Evidence from 1990 Onward - The Evidence Country by Country
6. Central America in the Global Economy
   The Development Path of Central American Countries - Elements of the Central American Crisis: The Central American Common Market - Systemic Factors in the Central American Crisis: raw materials and foreign debt
7. The Crisis of the Millennium and its Expansion
   The Asian Crisis - Interpretations of the Crisis - The Systemic Crisis and the Crisis in Productivity: a different reading of the Asian crisis - The Systemic Crisis Viewed from Latin America - The Development of the Asian Crisis viewed from Latin America
8. Some Philosophical Problems Posed by the Systemic Crisis
   Information, Space and Geography - The French Discussion on Internationalization - Power and the Urge Not to Know - Power, Truth and Crisis
9. Epilogue: Five Hypotheses on the Wrong Path Taken
   On liberalization and deregulation in Latin America  - Problems and Results from the Absence of choice - On the crisis of the dollar, end of the old international order and the creation of a new one in which developing countries have no defined role - On Ideological exhaustion, social disorganization and the crisis of the millennium - On the systemic crisis that hit bottom in 1997 and its effects - On definitive solutions and what will have to be considered if the South is to have a new, more sustainable order

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