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LIBERALISATION, DEREGULATION AND THE ATTACK ON ECONOMIC NATIONALISM

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Abstract

If the IT revolution was starting to erode the economic relevance of national boundaries, it needed specific politicians and administrators actually to start dismantling the laws and regulations erected in more nationalistic eras. With Mrs Thatcher becoming British Prime Minister in 1979, President Reagan taking on office in the USA in 1981, and Prime Minister Nakasone taking power in Japan in 1982 a formidable trio of marketoriented political leaders came to hold power simultaneously in the three legs of the triad world. Between them, they oversaw a major jump in economic liberalization in their countries. To some extent they reinforced each other's views. Premier Nakasone dropped out of the scene in 1987, and Reagan a year later, leaving only Mrs Thatcher to serve out the decade. However, not only had they swung the industrialised world toward a more aggressively market-oriented stance during this decade, but they had prepared the world for Perestroika, the collapse of the Soviet Empire, and the ultimate destruction of the Command economy on which it rested. The free-market ideology entered the 1990s in a much stronger position than it left the 1970s. Of course, the forces behind this upsurge in economic liberalism are more complex tha

Year: 2011
OAI identifier: oai:CiteSeerX.psu:10.1.1.199.2001
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