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1. Israel’s Neoliberal Turn and its National Security Paradigm

Author:
Arie Krampf
Publication Date:
01-2018
Content Type:
Journal Article
Journal:
Polish Political Science Yearbook
Institution:
Polish Political Science Association (PPSA)
Abstract:
Since the early 2000s, Israel has adhered to a particularly virulent strain of eco- nomic neoliberalism which has led to an unprecedented rise in nationwide levels of poverty and inequality. Attempts to explain this phenomenon have ignored a key aspect: The need of Israel – and especially its right-wing governments – to create an economic reality that reduces the pressure Israel faces from the international community in the wake of its con- tinued occupation of the territories.
Topic:
National Security, Nationalism, Poverty, and Neoliberalism
Political Geography:
Middle East and Israel

2. The Consolidation of the Anglo-Saxon/European Consensus on Price Stability. From International Coordination to a Rule-Based Monetary Regime

Author:
Arie Krampf
Publication Date:
10-2012
Content Type:
Working Paper
Institution:
The Kolleg-Forschergruppe (KFG)
Abstract:
During the 1990s, a consensus consolidated among policy makers and economists worldwide regarding the desirability of very low inflation targeting. So far, this process has been explained on the basis of a domestic- functional thesis, according to which commitment to very low inflation provides local economic gains with no costs. In this paper, I present an alternative explanation, according to which the global norm of very low inflation targeting was consolidated as a political solution to the problem of exchange rate misalignment and volatility. I argue that policy makers in Germany and the US believed that convergence of monetary policies and inflation rates, in addition to liberalization of financial markets, will stabilize exchange rates without the need for direct coordination. The paper employs the theory of liberal intergovernmentalism as a benchmark to explain the choice of the European and the G-5/7 countries to establish a low-inflation rule-based international monetary regime. The paper concludes that the regime of very low inflation targeting was consolidated as a politically viable solution to a political problem rather than as an economic best practice. Furthermore, it concludes that the norm of very low inflation targeting was a “corer solution” that neglected the problem of exchange rate stability.
Topic:
Economics, Markets, Political Economy, Monetary Policy, and Financial Crisis
Political Geography:
United States and Europe