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Market Liberalization and Income Distribution: The Experience of the 1980s

In: Global Development Fifty Years after Bretton Woods

Author

Listed:
  • Albert Berry
  • Frances Stewart

Abstract

The decade of the 1980s saw a major change in economic and social policy in both developed and developing countries — one that may well be regarded as a seachange by future economic historians. For most developed countries, there was a move from Keynesian towards monetarist macroeconomic policies; from welfare state provision from cradle to grave towards pay-as-you-go social services; from the public provision of basic services, such as water and electricity, at frequently subsidized prices, towards privatized provision at ‘economic’ prices; from industrial interventionism and labour protection to laisser-faire; and from tax systems whose major purpose was to correct inequalities towards systems mainly intended to promote incentives and economic efficiency. In many respects, the package of changes, and the change in the prevalent economic and social paradigms which underlay them, amounted to a retreat to the philosophy and policies of the 1930s.

Suggested Citation

  • Albert Berry & Frances Stewart, 1997. "Market Liberalization and Income Distribution: The Experience of the 1980s," Palgrave Macmillan Books, in: Roy Culpeper & Albert Berry & Frances Stewart (ed.), Global Development Fifty Years after Bretton Woods, chapter 11, pages 211-251, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25570-2_11
    DOI: 10.1007/978-1-349-25570-2_11
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    Cited by:

    1. Berry, R. Albert, 2001. "Policy response to poverty and inequality in the developing world: where should the priorities lie?," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 33125, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Berry, R. Albert, 2003. "Policy response to poverty and inequality in the developing world," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.

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