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The Financialization Response to Economic Disequilibria

The Financialization Response to Economic Disequilibria

European and Latin American Experiences

New Directions in Post-Keynesian Economics series

Edited by Noemi Levy and Etelberto Ortiz

Europe and Latin America’s social and economic stagnation is a direct result of the unresolved phenomena of the financialization crisis that broke out in 2008 in developed countries. Editors Noemi Levy and Etelberto Ortiz analyze the limitations of economic growth and development under capitalist economic organizations where financial capital is dominant, as well as explore alternative economic policies.

Chapter 10: The Mexican economy in 2014: between crisis, free trade, social devastation and labor precarization

Alejandro Álvarez and Sandra Martínez

Subjects: development studies, development economics, economics and finance, financial economics and regulation, political economy, post-keynesian economics


In the chapter, 'The Mexican economy in 2014: between the crisis, free trade, social devastation and labor precarization,' the authors delineate two central arguments. First, the effects of prolonged application of neoliberal formulas in public policies and second, the impact on workers' wages of labor and working conditions of developed and developing economies. These issues are discussed by the authors in light of the various trade agreements promoted by the USA and Mexico after the 2008 crisis that served the USA in regaining its hegemony and the links to the Mexican social conditions, highlighting the social devastation that has been taken place in recent years. The authors give particular attention to the multi-regional integration that deepens the free trade programs by means of various legal and political instruments: the Trans-Pacific Partnership (TPP), the Trans-Atlantic Trade and Investment Partnership (TTIP) and the Trade in Services Agreement (TISA).

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