The Failure of Market Fundamentalism

Lynne Chester

Review of Radical Political Economics, 2013, vol. 45, issue 3, 315-322

Abstract: This paper argues that neoliberalism’s global restructuring of electricity sectors has failed to deliver its proclaimed objectives and spawned threats to economic growth, financial market stability, environmental degradation, and society’s well-being. Using the case study of Australia, the paper’s régulationist analysis reveals the short-term outcomes and longer-term consequences of this restructuring, and concludes that the paradox of this structural change is the creation of inherent risks to the accumulation process.JEL Classification: B52, D02, L94, Z18

Keywords: Australia; electricity; public policy; régulation theory; structural change (search for similar items in EconPapers)
Date: 2013
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