Quantitative Analysis on Globalization, Development and Global Governance
* Article: From the Washington towards a Vienna Consensus? A quantitative analysis on globalization, development and global governance. By Arno Tausch.
Summary
"This publication empirically evaluates and develops core aspects of the literature on global governance. Analyzing world social, gender, ecological and economic development on the basis of the main 9 predictors, compatible with the majority of the more than 240 published studies on the cross-national determinants of the "human condition" around the globe, it presents the results of 32 equations about development performance from 131 countries. We come to the conclusion that while there is some confirmation for the "blue", market paradigm as the best and most viable way of world systems governance concerning economic growth, redistribution and gender issues, the "red-green" counter-position is confirmed concerning such vital and basic indicators as life expectancy and the human development index. This work also challenges the neo-liberal consensus about democracy and the pure market economy as the way to development, equality, a good environment and peace by showing that selected market interventions and the fairly regulated regime of the early postwar years assured stability in Europe and Japan and contributed to social and economic recovery from the Great Depression and the Second World War. Present attempts to stabilize the world order by bringing in the major western industrialized countries plus Russia (the so-called G-8, composed by France; United States; United Kingdom; Russian Federation; Germany; Japan; Italy; Canada; European Union) must face up to the fact that these countries represent a declining part of world purchasing power. The rise of Asia makes the present G7/G8 structure increasingly irrelevant. This publication also re-establishes the notion that capitalist development is of cyclical nature, with strong fluctuations every 50 years."