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PRAKSIS is a semiannual publication of the Network of Social Democracy in Asia (SocDem Asia). It seeks to combine theory and practice by providing cogent analysis to inform the strategy of the progressive movement and help shape the policy direction that should guide the region's governments.

Moreover, the journal serves as an Asian-wide social democratic channel of exchange in issue analyses, ideological deepening, and strategy development for advancing the agenda of freedom, justice and solidarity.

The journal also releases special editions to address pressing and unexpected issues affecting the region.


Inequality: Addressing Asia's Great Scourge

Since the 1980s, the World Bank has been closely associated with the Washington Consensus — a set of policy prescriptions that urged developing countries to deregulate their markets and curb government spending in exchange for development aid. But in early 2016, the Bank's former Chief Economist Francois Bourguignon recommended the exact opposite.

Concerned over increasing levels of income disparity in most parts of the world, Bourguignon explained that the free market policies of the previous three and a half decades enabled “developing countries to get closer to the developed world.” But it also created “a new elite within those countries while leaving many citizens behind, thus increasing domestic inequality.”

To address this growing malady, Bourguignon proposed that “states should pursue policies aimed at redistributing income, (and) strengthen the regulation of the labor and financial markets.” He further encouraged governments “to equalize living standards among their populations by eliminating all types of ethnic, gender and social discrimination; regulating the financial and labor markets; and implementing progressive taxation and welfare policies.”


Economists from the International Monetary Fund (IMF) went even further, claiming that global inequality is the consequence of the neoliberal ideology that their own institution had so enthusiastically promoted. In an essay written by Jonathan Orsy, Prakash Loungani and Davide Furceri, the authors argued that neoliberalism was “oversold,” since “both openness and…

Since the 1980s, the World Bank has been closely associated with the Washington Consensus — a set of policy prescriptions that urged developing countries to deregulate their markets and curb government spending in exchange for development aid. But in early 2016, the Bank's former Chief Economist Francois Bourguignon recommended the exact opposite.

Concerned over increasing levels of…

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Socdem Asia Secretariat
Unit 3E Suite 122, No. 122 Maginhawa Street,
Teachers Village East, Diliman 1101 NCR, Philippines
Email: secretariat@socdemasia.com
Tel. No.: (+63 2) 903 2396