Abstract

The Washington Consensus implies sets of neoliberal economic policies spreaded frontmost by main Bretton Woods Institutions and especially by the World Bank that entered into the economic policy and development schedules of many developing countries since 1970s. However, towards the end of the 1990s, the Washington Consensus exchanged by a opposite to paradigm called the Post-Washington Consensus (PWC) which underlined the necessity for different institutions in different economies and identified circumstances in which government market interventions can play useful roles. Furthermore, PWC draws attention to issues such as distribution of income, poverty, sustainable growth and delivarence of social services to the poor people; but still under the rules of neoliberalism in order to relegitimize it within reality of its crisis. This article aims to elucidate the neoliberal dimension of PWC’s principles by tracing historical perspective.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call