Reform, Reform the Reforms or Simply Regression The Washington Consensus and its Critics Report as inadecuate




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Abstract

The -Washington Consensus- analysis and policies are being disputed both analytically and for their effectiveness.This paper surveys first the debate on the definition of the -Washington Consensus- vis-a-vis its apparent developmental shortcomings. Then it surveys the major areas where the -Washington Consensus- isjudged as a failure with articularemphasis on the crises of the 1990s.In the next part it presents the main responses to the -crisis- of the -Washington Consensus-. Its supporters are categorised in tre fundamentalists and the reformists whereas itsopponents are divided in the post-Washington Consensus adherents and the Marxist critics. It is argued that the Marxist perspective offers a superior understanding and critique of the -Washington Consensus-.



Item Type: MPRA Paper -

Original Title: Reform, Reform the Reforms or Simply Regression? The Washington Consensus- and its Critics-

Language: English-

Keywords: Development; WashingtonConsensus; Political Economy-

Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic DevelopmentO - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O16 - Financial Markets ; Saving and Capital Investment ; Corporate Finance and Governance-





Author: Mavroudeas, Stavros

Source: https://mpra.ub.uni-muenchen.de/19735/







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