Mexico's Economic Dilemma: The Developmental Failure of Neoliberalism [Paperback]

Written by two leading scholars, this book provides a detailed analysis of Mexico's political economy. James M. Cypher and Ra?l Delgado Wise begin with an examination of Mexico's pivotal economic crisis of the 1980s and the consequent turn toward an export-led economy, later anchored by NAFTA. They show how Mexico, after abandoning frequently successful past practices of state-led development, disastrously tied its future to an unconditional reliance on foreign corporations to promote an export-led growth strategy.

Focusing on Mexico's cheap labor export model, the authors use the maquiladora sector and the auto industry as case studies of the perils of globalizationthe race to the bottom as capital becomes ever more international. The government's unconstrained free-market policies, they convincingly argue, have resulted in a fragmented economy marked by stagnation, falling wages, informal part-time employment, and massive migration, which define daily life for all but a tiny minority.

Cypher and Delgado Wise (development studies, Univ. Aut?noma de Zacatecas, Mexico) both earned their PhDs in the US, carry weighty scholarly credentials, and have published numerous books and articles on various topics relating to migration and economic development. Their more recent works have centered on Mexico. This collaboration is an unapologetic critique of neoliberalism, which the authors maintain was swallowed hook, line, and sinker by US-trained policy makers, who had a total disregard for the dangers these strategies posed for Mexico. The analysis is divided into seven . . . chapters (such as export-led growth, NAFTA, and the maquiladoras), the usual suspects when discussing Mexico's relationship with the US. However, the al³$