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Marketization, Protection, and Inclusive Growth: A New Synthesis

  • Jonathan D. London
Chapter
Part of the Studies in the Political Economy of Public Policy book series (PEPP)

Abstract

One of the most intriguing features of marketization has been the parallel development of a large-scale global policy agenda centered on social protection and inclusive growth. Promoted by international development agencies and their local clients, embraced by large numbers of development economists, viewed with suspicion by critics of markets and capitalism, and greeted with intrigue by theorists of state performance, the social protection and inclusive growth agendas have taken the notoriously fad-prone development field by storm. In East Asia, the social protection and inclusive growth literature and policy agenda have energized efforts to promote marketization and market-friendly policy sets, in part because they have managed to hitch the proverbial wagons of poverty reduction and equity to an agenda of liberalizing marketization. And yet the political and developmental logics of social protection and inclusive growth have meant different things to different people in different places. That the social protection and inclusive growth agendas have been welcomed by state and business elites reflects the malleability of its rhetorical content. In some instances the social protection and inclusive growth agendas have appeared to resonate with concerns emanating from civil society, whereas in other instances national and local elites have used the rhetoric of inclusivity to advance particularist interests. This chapter explores the emergence and meaning of the social protection and inclusive growth agendas in marketizing East Asia in relation to the political economy of welfare, inequality, and social transformation.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Leiden UniversityLeidenThe Netherlands

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