Chapter 6
Economic Libralization, the State, and Resettlement and Rehabilitation
S.M. Jaamdar
Introduction
Liberalization, privatization and globalization in the late 1970s and early 1980s marked the ascendancy of neo-classical ideas in economy. In the context of the second oil crisis, increasing debt burden, massive trade deficits, and near bankruptcy of the international banking system, the economic reforms introduced by Mrs Thatcher in the United Kingdom and by Mr Reagan in the United States (popularly known as Thatcherism and Reagonomics respectively) provided the necessary impetus for the structural adjustment programmes (SAP) of the World Bank (WB) and the International Monetary Fund (IMF) (Dasgupta 1997). The SAP and the ensuing conditionalities ...
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