Globalization, Economic Development and the Role of the State : Zed Books : 9781842771433 : 1842771434 : 01 Jul 2003 : The role of the state in the economy has always been a controversial issue in public debate, but it has become more so in the last quarter of a century with the rise of neoliberal thinking that preaches the virtues of unregulated markets and recommends de-regulation, opening-up, and privatisation. This push for a minimal, pro-business state, especially in developing countries, has been further intensified with both the rise of globalisation and the many radical neoliberal 'reforms' implemented, often under pressure from multilateral agencies (such as the IMF, the World Bank, and the WTO). In this book, the author highlights the failure of neoliberalism, especially in developing countries, or what he terms 'the intellectual bankruptcy of neoliberalism', which, he believes, 'stems ultimately from its failure to base its discourse on a balanced and sophisticated theory o