Capture and Exclude: Developing Economies and the Poor in Global Finance
The essays gathered in this book address two broad questions. What are the legacies of the imperial age and the colonial epoch, in the capitalist economy of the present day? And what challenges do global financial dynamics pose for developing countries, and for lower- and middle-income households?
The chapters in this book investigate three interlocking domains: the terrain of ideology about how global financial markets are supposed to work, across nations and across agents; the terrain of institutions and market structures; and the terrain of macro-economic and regulatory policy. Special attention is paid to the situation of India. This book demonstrates that, because asymmetric power rooted in imperialism and exploitation underlies the current era, exclusion and fragility are persistent features of the world in which we live.