Números Publicados

In this article an attempt is made to consider the relationships betwen the market and the State as found in the capitalist system. The ideas of Polanyi as expressed in his book The Great Transformation are followed in order to make clear that an economy based on assumptions of a self-regulated market had not existed prior to the rise of the industrial revolution, so, hitherto, there had never been a market-controlled economy.

This article analyses the relation between the main components of the national income (profits and wages) and the dynamic growth of the US economy during the period of 1980-1996.

The financial crisis, along with their contagion, which have taken place repeatedly in the last two decades, rank among the negative aspects implied by the globalization process. The article deals with their origin, the difficulties involved in their prevention, the general guidelines followed to manage them and the menace that they mean to the International financial system.

The article has three main tenets, which arise from the East Asian experience in 1997-99: (1) globalization should be managed more adequately in order to reduce its negative effects on developing countries; (2) Latin America should undertake, with the aim of avoiding its vulnerability to new financial crises, important reforms (on issues such as exchange rates, capital inflows, foreign debt, bank credit, investment efficiency and financial liberalization); and (3) integration in Latin America