1.

Record Nr.

UNINA9910450262703321

Autore

Gaspard Toufic

Titolo

A Political Economy of Lebanon, 1948-2002 : The Limits of Laissez-faire / / Toufic Gaspard

Pubbl/distr/stampa

Leiden; ; Boston : , : BRILL, , 2004

ISBN

1-280-46780-0

9786610467808

1-4237-1427-X

90-474-0257-X

Descrizione fisica

1 online resource (313 p.)

Collana

Social, Economic and Political Studies of the Middle East and Asia ; ; 92

Disciplina

330.95692/043

Soggetti

Economic development - Political aspects - Lebanon - History - 20th century

Economic development - Political aspects

Economic history

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

CONTENTS; List of tables; Preface; A political economy of Lebanon, 1948-2002: The limits of laissez-faire; Introduction; CHAPTER ONE OF SPONTANEITY AND DESIGN: THE MARKET AND ECONOMIC DEVELOPMENT; CHAPTER TWO THE ROAD TO LAISSEZ-FAIRE: A HISTORICAL PERSPECTIVE; CHAPTER THREE GROWTH WITHOUT DEVELOPMENT; CHAPTER FOUR LAISSEZ-FAIRE AGAINST INDUSTRY; CHAPTER FIVE THE REPRODUCTION OF LAISSEZ-FAIRE; CHAPTER SIX FROM CRISIS TO RECONSTRUCTION; CHAPTER SEVEN CONCLUDING REMARKS AND POLICY RECOMMENDATIONS; Bibliography; Subject Index; Author Index

Sommario/riassunto

This book is about the laissez-faire strategy for economic development, a strategy inspired by neoclassical/mainstream economics, advocated by the "Washington Consensus", and implemented by the Bretton Woods institutions. Mainstream economics has taken legitimacy from the historical failure of command economies. But this view has not been balanced by an examination of the



performance of laissez-faire economies, the closest to the pure market model. Lebanon provides a unique test case in this regard. The book assesses Lebanon's development during 1948-2002, including its industrial and financial performance. The dynamics of the laissez-faire system is separately studied from a Post-Keynesian perspective, highlighting institutional behavior. It is found that laissez-faire is not a sufficient condition for economic development, and can even be counterproductive.