How was it that the battle of ideas was resolved so conclusively in favour of what had hitherto been the preserve of an unrepresentative minority? How did extreme and unprecedented ‘free-market’ doctrines become so dominant? Why did governments, particularly those with progressive views, not ensure that market forces were tempered by a concern for the interests of the majority? However dominant the ‘free-market’ orthodoxy had become towards the end of the last century, why did the pendulum of political fashion not swing in due course in its normal fashion? Why did its opponents abandon the debate, declare themselves to be true believers, and focus instead on largely ineffectual efforts to mitigate the consequences of the orthodoxy they had now adopted?
KeywordsForeign Direct Investment Monetary Policy Global Economy Private Equity International Capital
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