21. Environmentalism, Free Trade and Regionalism in Theoretical Perspective: An Unholy Developmental Trinity?
- Author:
- Imtiaz Hussain
- Publication Date:
- 01-1997
- Content Type:
- Working Paper
- Institution:
- Centro de Investigación y Docencia Económicas
- Abstract:
- Why do policy outcomes invariably fall short of expectations? Almost all studies of this puzzling topic over the last generation have revolved around a study of the limits of rational behavior. Although this literature is extraordinarily enriching, as society becomes more complex, the gap between policy intentions and outcomes seems to be widening, and constrained rational behavior appears to be accounting for increasingly less of that gap. Three incompatible policy areas today are environmentalism, free trade, and regionalism. This investigation undertakes a comparative analysis of the principles and key dimensions of those three policy areas, then transforms Benjamin Cohen's unholy monetary trinity into an unholy developmental trinity to offer a theoretical framework within which this incompatible policy-mix may be explained.
- Topic:
- Foreign Policy, Economics, Environment, and International Trade and Finance