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Neoliberalism, Neoclassicism, and Economic Welfare

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  • John Harvey

    (Department of Economics, Texas Christian University)

Abstract

The object of this paper is to examine the theory that justified these policies, describe an alternative approach that argues they were ill-advised, and take a brief look at a small group of Latin American countries in the aftermath of the Mexican Crisis. It will be shown that not only does the alternative view raise serious doubts about the efficacy of Neoliberalism, but that those countries that refused to follow suit were better protected against contagion after the December Mistake.

Suggested Citation

  • John Harvey, 2009. "Neoliberalism, Neoclassicism, and Economic Welfare," Working Papers 200902, Texas Christian University, Department of Economics.
    • Handle: RePEc:tcu:wpaper:200902
    as

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    File URL: http://www.econ.tcu.edu/RePEc/tcu/wpaper/wp09-02.pdf
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    References listed on IDEAS

    as
    1. James M. Cypher, 1996. "Mexico: Financial Fragility or Structural Crisis?," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(2), pages 451-461, June.
    2. Moritz Cruz & Edmund Amann & Bernard Walters, 2006. "Expectations, the business cycle and the Mexican peso crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(5), pages 701-722, September.
    3. Graciela Laura Kaminsky & Sergio L. Schmukler, 2008. "Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Cycles," Review of Finance, European Finance Association, vol. 12(2), pages 253-292.
    4. Enrique Dussel Peters, 1998. "Mexico’s Liberalization Strategy, 10 Years On: Results and Alternatives," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(2), pages 351-363, June.
    5. Chwieroth, Jeffrey, 2007. "Neoliberal Economists and Capital Account Liberalization in Emerging Markets," International Organization, Cambridge University Press, vol. 61(2), pages 443-463, April.
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    Cited by:

    1. Christian E. Weller & Ghazal Zulfiqar, 2013. "Financial Market Diversity and Macroeconomic Stability," Working Papers wp332, Political Economy Research Institute, University of Massachusetts at Amherst.

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