From Washington consensus to global crises

İnan, Mutlu
This thesis focuses on the changing modes of state intervention into the economy in neoliberalism. It contends that the so called free market is neither a natural process nor an inevitable result of the harmony of interest, but the result of a deliberate political making process. The global economic crisis provided ample evidence to refute the claim that state and market are separately existing and antagonistic entities and indicates that the issue is not the market or the state, since the state in a capitalist society is equally subordinate to capital, simply providing an alternative mode of regulation of capital accumulation. The state has always been essential for "proper" workings of the market, especially for the interests of capital and the neoliberal state is not an exception.


An evaluation of the trilemma: global constraints on monetary policies of developing countries in the post Bretton Woods era
Tercioğlu, Remzi Barış; Cömert, Hasan; Department of Economics (2016)
This study investigates monetary policy independence of developing countries in the context of the trilemma concept in the post Bretton Woods Era. Throughout the thesis, multidirectional effects of financial flows on monetary policies of developing countries are described and limits on effectiveness of the policy rate tool are discussed. As empirical evidence shows, global factors restrict central bank independence in developing countries and the policy rate tool is not effective enough in influencing long-...
Neoliberal Transformation of the State through the Establishment of Independent Regulatory Agencies : The Case of "Tobacco and Alcohol Market Regulatory Authority" in Turkey
Şafak - Çubukçu, Öykü; Yalman, Osman Galip; Department of Political Science and Public Administration (2012)
Based upon critical political economy and Marxist theory of the state, this thesis attempts to understand the neoliberal form of the capitalist state in Turkey. While doing this, it puts the establishment of independent regulatory agencies (IRAs) into the framework of the claim of de-politicization and redefined form of the separation of the political and the economic under neoliberalism. It argues that neoliberalism solved its crisis and settled through each financial crisis, as a result of which the state...
A critical approach to central bank independence : the case of the central bank of the Republic of Turkey
Ayhan, Berkay; Üstüner, Mustafa Yılmaz; Department of Political Science and Public Administration (2008)
From the 1970s onwards, it is argued that central banks should be independent from politicians since the latter have an interest in seeking populist interventions to the conduct of the monetary policy. Additionally, it is often maintained that the sole aim of a central bank should be to seek price stability. Despite the seemingly neutral and objective tone of these arguments, central bank independence can find its meaning as a part of Neoliberalism, which restructured the economic administration of the stat...
On consensus, constraint and choice: economic and monetary integration and Europe's welfare states
Bolukbasi, H. Tolga (Informa UK Limited, 2009-01-01)
This article reassesses the theoretical expectations and empirical findings in the political economy literature on the impact of economic and monetary union (EMU) on European welfare states. After summarizing the literature which views EMU as the symbol of the primordial conversion to neoliberalism, the article identifies the underlying hypothesis, assumptions, and predictions of the earlier, largely apprehensive literature of the 1990s which was based on ex ante convictions on EMU's social consequences. Th...
The intellectual framework of the ‘European New Right’ and European Integration
Kurtoğlu, Mete; Okyayuz, Mehmet; Department of Political Science and Public Administration (2009)
This thesis aims to analyze the ideology of the “European New Right” (Nouveille Droite) and its attempt to establish its cultural hegemony on European integration. The revival of the radical right-wing parties after 1980s and the rise of xenophobia have emerged as a fundamental threat to European democracy. The study of such developments and the measures taken to combat right-wing extremism, however, should not be limited to political parties and activists. The intellectual framework of the contemporary rad...
Citation Formats
M. İnan, “From Washington consensus to global crises,” M.S. - Master of Science, Middle East Technical University, 2010.