Edited by Louis-Philippe Rochon and Hassan Bougrine
Chapter 16: On the changing nature and geography of crises: lessons for a sustainable internationalization
Crises, financial or otherwise, tend to affect trade partners differently, according to the specificities of the pattern of internationalization in which they find themselves. With an increasingly still multidimensional internationalization, the understanding of the dynamics of crises becomes an important issue, if only to design a sound governance of international exchanges, limiting the crises and their detrimental effects. This chapter tries to investigate how crises have been received so far, and stressing the damages brought by their continuous neglect by orthodox economists. The unabashed dominance of the neoliberal/free market ideology has pushed the market-led internationalization into an impasse. The challenge of environmental change can help to overrun this dominance, which the global financial crisis curiously did not succeed in doing. Economists can contribute to the great transformation required, provided they learn to draw lessons from past and upcoming crises.
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