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    ‘Monetarism’ in the UK and the Southern Cone: an overview

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    IDSB_13_1_10.1111-j.1759-5436.1981.mp13001004.x.pdf (357.0Kb)
    Date
    01/12/1981
    Author
    Wells, John
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    Abstract
    SUMMARY This article discusses common patterns—as well as differences—between the ‘new orthodoxy’ of monetarism applied in the United Kingdom and that of the Latin American Southern Cone. In both cases, it interprets this new orthodoxy as a conscious attempt to break out of the previous pattern of capitalist development, as well as the social and political framework which sustained it. This long?term objective accounts for the huge and, in purely technical terms seemingly unnecessary, scale of social cuts. The experience of the United Kingdom, Argentina and Chile are examined from this perspective; the historical background for each of these monetarist experiences is described in some detail. RESUMEN Monetarismo en Gran Bretaña y en el Cono Sur: una reseña Este artículo analiza tanto las pautas comunes como las diferencias de la ‘nueva ortodoxia’ monetarista aplicada en Gran Bretaña y el Cono Sur de América Latina. En ambos casos, esta nueva ortodoxia es interpretada como una tentativa consciente para abandonar el modelo previo de desarrollo capitalista, así como la estructura social y política sobre las que se sustentaba. Este objetivo de largo plazo justifica la escala y el enorme costo social, aparentemente innecesarios desde un punto de vista exclusivamente técnico. Las experiencias de Gran Bretaña, Argentina y Chile son analizadas desde esta perspectiva y se describe con algún grado de detalle el trasfondo histórico de cada una de estas experiencias monetaristas. RESUME Le monétarisme en Grande?Bretagne, en Argentine et au Chili Cet article présente les similarités ainsi que les différences entre la ‘nouvelle orthodoxie’ du monétarisme appliquée au Royaume?Uni et celle des pays du ‘cône’ latino?américain. Pour ces deux cas, il considère la nouvelle orthodoxie comme une tentative consciente de briser l'ancien moule du développement capitaliste, ainsi que le cadre socio?politique qui le supportait. Cet objectif à long terme explique les réductions énormes, et qui, en termes purement techniques, ne paraissent pas nécessaires, des dépenses sociales. L'expérience du Royaume?Uni, de l'Argentine et du Chili est étudiée dans cette perspective et leur historique donné de façon assez détaillée.
    URI
    https://opendocs.ids.ac.uk/opendocs/handle/20.500.12413/10701
    Citation
    Wells, J. (1981) ‘Monetarism’ in the UK and the Southern Cone: an overview. The IDS Bulletin 13(1): 14-26
    DOI
    10.1111/j.1759-5436.1981.mp13001004.x
    Is part of series
    The IDS Bulletin Vol. 13 Nos. 1
    Rights holder
    © 1981 Institue of Development Studies
    Rights details
    http://www.ids.ac.uk/files/dmfile/IDSOpenDocsStandardTermsOfUse.pdf
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    • Volume 13, Issue 1 [11]

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