By James Petras, Henry Veltmeyer
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Extra resources for Power and Resistance: US Imperialism in Latin America (Studies in Critical Social Sciences)
For another, due to the diverse pitfalls of this strategy and the dependence of the state on the bearers of ‘extractive capital’, these ‘progressive’ or ‘post-neoliberal’ regimes are unable to deliver on their promise of greater social inclusion and equity in the distribution of the society’s wealth and the social product, and a development that is socially inclusive, sustainable and protective of the global commons. This chapter brings a Marxist perspective on capitalist development to these debates.
Mainstream analysts claim that neoliberal policies related to resource extraction create: economic dynamism; global competitiveness; technology/ knowledge transfer; and sophisticated techniques in managing environmental and social costs. The ‘wisdom of the international epistemic community’ (adherents to neoliberal ideology) is that private capital can unlock the hidden potential of natural resource development and unleash a sustainable growth process. However, the experience has been otherwise.
Exponents of this approach define the issue of resource extraction as a matter of ‘politics’— as in the ‘politics’ or ‘political ecology’ of natural resource extraction’ and the ‘international political economy’ of resource extraction (Gudynas, 2010). Here there are two fundamental issues. ). The other is the mechanisms of this adaptation, in these accounts, which are ‘development policies [that are]… engineered to cushion the impacts of neoliberal reforms’. As a result, the only cases of ‘successful’ adaption found by Collier and Venables are based on the transformation of the neoliberal into a post-neoliberal state, in line with a new generation of development theorists and self-styled ‘international political economists’.