Economy and Ideology: The Case of the International Monetary Fund Cover Image

Ekonomija i ideologija: slučaj Međunarodnog monetarnog fonda
Economy and Ideology: The Case of the International Monetary Fund

Author(s): Josip Lučev
Subject(s): Politics / Political Sciences
Published by: Fakultet političkih znanosti u Zagrebu
Keywords: IMF; scientific paradigm; hegemony; dominant discourse; imperialism; anti-utilitarian; ideology

Summary/Abstract: The first part of the paper describes the internal incoherencies of the International Monetary Fund and its consistent ignoring of empirical evidence. The second part offers possible explanations for this nonchalance. A Kuhnian perspective can explain it in terms of anomaly accumulation necessary for a paradigm shift. Richard Peets’ explanation forwards a joining of Foucaults’ concept of dominant discourse with a Gramscian hegemony. Alternatively, ignoring of evidence by the IMF may well be interpreted as part of a neo-imperialist ploy directed at exploitation of developing countries. Finally, a concept of anti-utilitarian nature of absolutely implemented ideology derived from the writings of Hannah Arendt can explain the functioning of IMF beyond the bounds of purpose. Taking into account these explanations, the possibilities of change of harmful behavior for an institution such as IMF are suggested.

  • Issue Year: XLVII/2010
  • Issue No: 04
  • Page Range: 79-92
  • Page Count: 14
  • Language: Croatian