Photo of Manfred A. Bienefeld

Manfred A. Bienefeld

Professor Emeritus

Research Interests

  • Development policy
  • Financial deregulation
  • The debt crisis
  • Industrial policy


  • Finance and international development with focus on the role played by financial flows since the mid 1970s in stimulating both growth and instability in much of the developing world and in forcing developing countries to carry ever larger (and more costly) reserves to stave off instability
  • Finance, sovereignty and public policy with focus on Keynes’ belief that if the interest rate is not (largely) “nationally determined” it will be difficult for countries to pursue truly independent social policies—though some room for maneuver clearly remains, and much of my concern is with the question of who has been able to exploit that “room” most effectively

Selected Publications

  • “Is Globalization Reducing Poverty?” (with Dominick Salvatore), Introducing Macroeconomic Analysis: Issues, Questions, and Competing Views, ed. Hassan Bougrine and Mario Seccareccia, Toronto: Emond Montgomery, 2009, Ch. 13.
  • “Paper Money Imperialism: Enforcing Incomprehensible, Irrational and Irresponsible contracts?” audio recording of seminar presentation at York University, 12 September 2008.
  • “Suppressing the Double Movement to Secure the Dictatorship of Finance,” Reading Karl Polanyi for the Twenty-first Century: Market Economy as a Political Project, ed. Ayşe Buğra and Kaan Ağartan, New York: Palgrave Macmillan, 2007, pp. 13–32.
  • “Can Finance be Controlled?” Global Finance: New Thinking on Regulating Speculative Capital Markets, ed. Walden Bello, Nicola Bullard, and Kamal Malhotra, London: Zed Books, 2000, Ch. 8 (pp. 114–122).
  • “Globalization and Social Change: Drowning in the Icy Waters of Commercial Calculation,” Globalization and Social Change, ed. Johannes D. Schmidt and Jacques Hersh, Routledge, 2000, Ch. 3 (pp. 46–66).