A Political Economy of Lebanon 1948 2002 The Limits of Laissez Faire 1st Edition by Toufic Gaspard ISBN 9004132597 9789004132597 by Toufic K. Gaspard 9004132597, 9789004132597 instant download after payment.

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ISBN 10: 9004132597 
ISBN 13: 9789004132597
Author: Toufic Gaspard

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.

A Political Economy of Lebanon 1948 2002 The Limits of Laissez Faire 1st Table of contents:

Chapter One: Of Spontaneity and Design: The Market and Economic Development

• Theoretical underpinnings of market-led development
• Debates surrounding laissez-faire and its role in economic growth
• Critiques of neoclassical/mainstream economic approaches to development

Chapter Two: The Road to Laissez-Faire: A Historical Perspective

• Historical roots of Lebanon's economic liberalism
• Key political and economic decisions shaping the laissez-faire model
• The influence of colonial legacies and regional dynamics on economic policy

Chapter Three: Growth Without Development

• Analysis of Lebanon's economic growth patterns from 1948-1975
• Disparities in income distribution and social inequalities
• Lack of structural transformation despite economic expansion
• The "Switzerland of the Middle East" myth versus reality

Chapter Four: Laissez-Faire Against Industry

• The performance and challenges of the industrial sector
• How laissez-faire policies might have hindered industrial development
• The role of financial and service sectors dominating the economy
• Comparisons with other developing economies

Chapter Five: The Reproduction of Laissez-Faire

• Mechanisms and institutions that perpetuated the laissez-faire model
• The interplay between political structures (confessionalism) and economic policies
• The role of powerful economic actors and vested interests
• Challenges to reform and policy inertia

Chapter Six: From Crisis to Reconstruction

• The impact of the Lebanese Civil War (1975-1990) on the economy
• The monetary crisis of the mid-1980s
• Post-war reconstruction policies and their economic outcomes
• High government indebtedness and its consequences
• The role of the banking system and finance capital during reconstruction

Chapter Seven: Concluding Remarks and Policy Recommendations

• Synthesis of the findings on the limits of laissez-faire
• Lessons learned from Lebanon's development experience
• Proposed policy alternatives for sustainable and inclusive development
• The need for a new social contract and institutional reforms

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Tags: Toufic Gaspard, Political, Economy