By Machiko Nissanke, George Mavrotas
Alfred Maizels' paintings on commodity exchange and costs documented tendencies in an enormous region of overseas financial kinfolk. This ebook elaborates the tips within the culture of Maizels' contributons, and discusses and extends those theories relating to present difficulties.
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Extra info for Commodities, Governance and Economic Development under Globalization
The ultimate difference was . . about the role of independent market forces in deciding the fate of the primary producing countries. (Schonfield 1964: 3) Various considerations fuelled scepticism about commodity agreements that aimed to raise prices above those set by the market. Some experts held that price support by means of export restrictions would only stimulate higher production by other producers outside the scheme, or induce innovations in synthetic substitutes. Others who were not opposed to such schemes in principle noted that all commodity agreements required joint decisions and equal voting rights for producing and consuming countries, and that cooperation by consumer countries was highly unusual.
F. W. Rayment) Exports and Economic Growth of Developing Countries (Cambridge: Cambridge University Press for NIESR). Maizels, A. I. MacBean, Export Instability and Economic Development’, American Economic Review, 58(4): 575–80. Maizels, A. (1973) ‘UNCTAD and the Commodity Problems of Developing Countries’, IDS Bulletin, 5(1): 42–53. Maizels, A. (1982) ‘Towards a Political Economy of the New International Economic Order’, in Gerald K. ), For Good or Evil: Economic Theory and North–South Negotiations (Oslo: Universitetsforlaget): 167–86.
Given these two peculiarities, the line separating technical and political roles is much harder to draw than it is in the British civil service, in which Alf had served previously. This contradiction in Alf’s position surfaced over the question of the cost of the Common Fund. The basic principle of having a Common Fund had finally been agreed at UNCTAD IV in Nairobi in 1976, where much of the political driving force of the negotiation came from Dragoslav Avramovic, who had been loaned to UNCTAD by the World Bank.
Commodities, Governance and Economic Development under Globalization by Machiko Nissanke, George Mavrotas