Economics Imperialism and Economic Imperialism: Two Sides of the Same Coin

Angela Ambrosino, Mario Cedrini and John Davis

No 2023-03, Working Papers and Research from Marquette University, Center for Global and Economic Studies and Department of Economics

Abstract: We argue that in a core-periphery economic world economics imperialism as advanced by the postwar Chicago School and economic imperialism led by the economies of the north are two sides of the same coin. We first review the parallelism between postwar capitalism’s core-periphery expansion of the north into the south and the Chicago’s theory of economics imperialism. We then distinguish four forms of relationships between different disciplines, and using Rodrik’s augmented global capitalism trilemma argue Chicago adopts his Golden Straitjacket pathway, both for north-south capitalist expansion and core mainstream economics’ orientation toward other social science disciplines. The paper then uses Ricardo’s classic theory of rising rents to argue the Golden Straitjacket pathway is self-undermining for both, because it produces costly rising inframarginal rents in the north economies associated with financialization and in Chicago economics associated with its defense against other disciplines’ reverse imperialisms. We conclude that long-term forces operating on global economic development and the evolution of the social sciences suggest an alternative pathway for both that would produce a more pluralistic world economy and a more pluralistic economics.

Keywords: economic imperialism; economics imperialism; Rodrik; Golden Straitjacket; Ricardo; financialization; reverse imperialism; pluralism (search for similar items in EconPapers)
JEL-codes: A12 B41 F02 (search for similar items in EconPapers)
Date: 2023-09
New Economics Papers: this item is included in nep-his, nep-hme, nep-hpe and nep-pke
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Journal Article: Economics Imperialism and Economic Imperialism: Two Sides of the Same Coin (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:mrq:wpaper:2023-03

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