What is the Washington Consensus?

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What is the Washington Consensus?

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Anonymous 0 Comments

It was/is basically a set of policy prescriptions that the big international development institutions used as the playbook to help developing countries. Think the World Bank, IMF, US Treasury, and others who are based in Washington, DC.

It originally started as 10 specific policies that developing countries should adopt to build better economies — things like a free markets, floating rates and currency, deregulation, property rights, and private ownership of state enterprises.

Since then it has basically come to mean what most people on Reddit would call neoliberalism or globalism.