State and Globalization - Hardcover

Hardcover

ISBN 10: 8131602664 ISBN 13: 9788131602669

Publisher: Rawat Publications, 2010

Synopsis

"Excellence is not in perfection but in harmony." This old dictum holds true in the context of the theory and praxis of state versus market dichotomy. Too much of everything becomes counterproductive. Accumulated quantitative changes give rise to qualitative changes. The laissez-faire individualism of the classical liberal era led to the growth of industrial capitalism in the 19th century with its insistence on minimalist state oversight and free trade. Excessive individualism and liberalism flourished at the cost of equity, justice and social harmony. To cope up with these problems, the 'visible hand' of the state was truly made visible. In Western democracies, it was done through the New Deal and welfare. In socialist democracies, it was done in the name of socialism and in the developing countries through democratic socialism with emphasis on state-led rapid planned development. State intervention did help in controlling the situation. However, in the long run, excessive state intervention - particularly in the post-Second World War period, in the name of welfare or socialism - created a case for liberalization, privatization, and globalization. This led to the retreat of the state and the ascendancy of the market. Unrestrained market ascendancy has again precipitated global financial crises, necessitating the revival of state intervention. To overcome the cyclical process of change, the Greek wisdom suggested the avoidance of extremes and the integration and harmonization of the good features of various institutional arrangements. This book examines the need for an actual harmony between the state and market.

About this title

About the Author

Roop Singh Bareth, Professor and Head, Department of Political Science, University of Rajasthan, Jaipur, has been teaching International Relations for more than three decades. He specialises in international politics and regional politics in Asia, particularly China and South Asian countries. He has authored Transit Politics in South Asia and has contributed research articles in many reputed journals. Damyanti Gupta is Principal, Rajasthan College, University of Rajasthan, Jaipur. Her areas of interest are political philosophy and political theory and feminist theory. She has contributed several research papers in high statured journals, and has also authored Political Thought and Interpretation: The Linguistic Approach.

Edition details

• Publisher: Rawat Publications
• Publication date: 2010
• Language: English
• ISBN 10: 8131602664
• ISBN 13: 9788131602669
• Binding: Hardcover
• Number of pages: 280
• Editor: Bareth Roop Singh, Gupta Damyanti