Tourism, taxes and immiserization
: a theoretic analysis.
They cover sustaining the growth process; dealing with globalization: trade, capital, technology; mitigating immiserization
: poverty, inequality, joblessness; envisioning the institutional changes; and reimagining the political hegemony.
As the recipient economy being considered becomes larger in the world narcotics market, the likelihood of immiserization
falls, as the terms of trade effects begin to dominate.
For economic factors, the immiserization
theory postulates that rising economic levels (GDRP/capita) generate off-farm job opportunities that can prompt a shift away from reliance on forests (Rudel and Roper 1997).
Since the globalized economy suffers from persistent economic crises, except for brief periods of bubble-sustained excitement (and during these too, as employment generation falls far short of the number of job-seekers, the process of absolute immiserization
does not abate), the co-existence of people's everyday hardships with the lack of any hope for alleviating these hardships through electoral means, creates disillusionment with electoral democracy and a fertile ground for fascism.
Since independence, many African states have been marked by one form of self-inflicted debility or another, manifested in social decay, immiserization
of the people, planlessness, slummization, thieveries of all stripes and hues with dire consequences for development.
and injustice, rather than a better life.
In a pure exchange economy setting, Green (1987) and Atkeson and Lucas (1992) show that (constrained) efficient allocations, independent of the feasibility technologies, display extreme levels of "immiserization
": The expected utility level of (almost) every agent in the economy converges to the lower bound with probability one.
Much of the horror conveyed in Political Violence lies in the instances its essays present of the immiserization
that results when such institutions are either nonexistent or incapable of performing this vital role.
If, for example, workers in capitalist orders experience steadily increasing incomes that hoist them into the middle class, then charges of exploitation, let alone "immiserization
" (a la Marx) lose their cogency.
(5) The first to translate ' Verelendung' as 'immiserization
' was Joseph Schumpeter, in his Capitalism, Socialism and Democracy.
argument is only one of the many complaints about the impact of international integration, but it is arguably the one with the widest currency.