Liberalization, Globalization and Inequality in South Asia

Abstract

Imbued with Promethean impulse, neoliberal globalization¹ presents to its disciples a brave new world of limitless opportunity: a world of rapid economic growth, technological advancement, a borderless culture of contentment. Sanctified by the collapse of the Second World, the end of the cold war and the consolidation of global hegemony,² the new creed has found a receptive worldwide audience. With no feasible alternatives in sight, neoliberal globalization casts an imposing shadow on policy choice and economic practice. Against the backdrop of challenges to statist rent-seeking, bureaucratic insolence in government and governance, and general economic miscarriage, celebrations of neoliberal globalization appear both timely and legitimate.