DEVS 230 Lecture Notes - Lecture 5: Conditionality, Wiki, Washington Consensus
8 Dec 2017
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Key terms: washington consensus, neoliberalism, stabilization ?austerity / shock therapy, structural adjustment. Powerful advocates of neoliberal reform based in wash: the us exec branch (gov, international institution (imf & wb, washington based think-tanks, regional dev. Prescription for reform based on neoclassical principles. If makes promote: rationality and ef ciency. Rational individuals making choices of what to buy. Private rms making decisions on which and how many goods to produce. Investors decide the best place to invest. Policies are the problems: the market should be free of political intervention or regulation (let it be free) A planned concept of development becomes irrelevant: dev is merely what the free functioning market brings. Market force becomes an end in and of themselves. Neoliberals suggests that: state managers cannot know all the necessary info to make correct decisions, state managers vulnerable to special interest groups and / or corruption.
