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View Diary: What is Neoliberalism? (158 comments)

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  •  The Washington Consensus is a set of policies (7+ / 0-)

    that is used to inject neoliberalism (unfettered capitalism) into a political system. The IMF is probably its greatest proponent as both instigator and enforcer.

    I see little daylight between the Bush and Obama administrations here. Obama is more subtle and not so "in your face". Fortunately, the world has caught on (mainly in the Americas) and are now rejecting IMF overtures.

    •  Actually (4+ / 0-)

      I think the IMF itself has caught on (it is not the force for austerity it once was)

      The Washington Consensus is pilloried now - for some good reasons, the most important of which were its focus on deregulating financial markets (see Stiglitz on this) and for focusing on austerity.

      But the truth is the policies of Lulu are closer to the Washington Consensus than you would think given the politics surrounding it.  Lula was strongly for free trade and economic growth - policies not so different from what the IMF argued for.  

      •  Strauss-Kahn caught on. Not sure if the (1+ / 0-)
        Recommended by:
        mkor7

        powers behind IMF did.

        Dominique Strauss-Kahn on austerity

        Was he taken down with a honey-pot by having these revolutionary views?? Christine Lagarde is considerably less, shall we say progressive, than Strauss-Kahn.

        The austerity screws are still being put to European and MENA countries by the IMF.

        Kerry, working as the IMF's bag-man, had a meeting with Morsi and put him in a no-win situation shortly before he was tossed. The IMF has now stated that the strong austerity measures put on Egypt were too harsh and created political instability. Now who would have thunk that? In any event, the IMF loan is not as important now that 12 billion has miraculously appeared from other ME players.

        What do you call a coup when it's done by financial machinations?

      •  Once the world caught on to the IMF (3+ / 0-)

        the IMF switched gears and became less neoliberal. Now the neoliberal economic action has moved over to other economic institutions such as the various "free trade" treaties and other bi and multi-lateral organizations that have a higher level of secrecy and less democracy. Democracies never choose neoliberalism after experience with it for more than a decade or so and any organization that is transparent enough and has democracies participating will be a failure as a vehicle for neoliberalism.

        This is one of the successes of the anti-globalization(or alter-globalization) movements.

        If debt were a moral issue then, lacking morals, corporations could never be in debt.

        by AoT on Fri Aug 02, 2013 at 11:33:41 AM PDT

        [ Parent ]

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