Author Affiliation, Ana.
Department of Economics
Neoliberalism and mercantilism: ironic parallels
Derné, Marie-Claude; Nurse, Keith
Caribbean economies and global restructuring
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Previously published as Economies de la Caraibe et restructuration mondiale by Ibis Rouge Editions, Martinique, 2002.
By juxtaposing mercantilism with neoliberalism we can look behind the slogans of the contemporary advocates of free trade to find a range of parallels between what at first appear to be diametrically opposed projects. This should be a surprise given the inherent tension in liberalism between its support for unrestricted free trade and its defence of the monopoly/exclusive rights of private property. Thus while the establishment of the WTO has been heralded as a major breakthrough in trade liberalization, the accompanying TRIPS agreement represents a major breakthrough in the defence of monopoly (intellectual property) rights. Looks at parallels which include the gap between rhetoric and reality, the support for monopoly rights, views on competition, the use of legal instruments and state intervention to extend the market, the process of colonization, the role of the working people in the creation of national wealth, fallacies of composition and the relationship between economic ideas and policy practice.....