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Topic: Washington Consensus

	Washington Consensus: A Damaged Brand - Carnegie Endowment for International Peace
		Instead of prosperity, the consensus now emits the poisonous odours of a recipe concocted in Washington by a cabal of inept technocrats who are out of touch with the realities of poor countries or, even worse, are in the pockets of Wall Street.
		Tragically for the poor of the world, the blanket repudiations of the Washington consensus in the early 2000s tend to be as superficial as their blanket acceptance a decade ago.
		The Washington consensus was never meant to be used as a development programme, a national project, a doctrine or a political platform, much less as an ideology.
	www.carnegieendowment.org /publications/index.cfm?fa=view&id=1114 (767 words)

	Washington Consensus - Wikipedia, the free encyclopedia
		The Washington Consensus is a set of policies that have been promulgated by many neoliberal economists as a formula for promoting economic growth in many parts of Latin America and other parts of the world.
		The Washington Consensus is the target of sharp criticism by individuals and groups who argue that it is a way to open up less developed Latin American countries to investments from large multinational companies and their wealthy owners in advanced First World economies.
		The widespread acceptance of Washington Consensus was a reaction to the macroeconomic crisis that hit much of Latin America during the 1980s.
	en.wikipedia.org /wiki/Washington_Consensus (2328 words)

	Speech: Did the Washington Consensus Fail?
		The basic ideas that I attempted to summarize in the Washington Consensus have continued to gain wider acceptance over the past decade, to the point where Lula has had to endorse most of them in order to be electable.
		I fear I indulged in wishful thinking in asserting that there was a consensus in favor of ensuring that the exchange rate would be competitive, which implies an intermediate regime; in fact Washington was already beginning to subscribe to the two-corner doctrine.
		The purpose was to frame a conference whose ulterior purpose was to persuade Washington that Latin America was engaged in serious reform, not to furnish a policy agenda for Latin America.
	www.iie.com /publications/papers/paper.cfm?researchid=488 (1781 words)

	Washington Consensus (Site not responding. Last check: )
		The initiative was launched in response to the region's mediocre growth and limited social progress in the 1990s-when the ten economic policies encapsulated in the "Washington Consensus" had taken root in most of Latin America.
		This includes exploring the impact of institutional arrangements on social equity-one of the main omissions of the Washington Contentious and unlike economic policy, a field of development that has yet to be widely explored.
		The third activity is the re-issue of the Washington Contentious report, which we plan to revise and update taking into consideration the change in the international context post September 11 as well as the new malaise in the region, i.e.
	www.iadialog.org /programs/policy/social/washington_exec.asp (1348 words)

	Beyond the Washington consensus at John Quiggin
		Although John Williamson of the Institute for International Economics coined the term ‘Washington consensus’, he didn’t endorse all the policies that were subsequently associated with that label, particularly unrestricted financial deregulation.
		A central point in the Washington consensus was the belief that the debt crisis was the result of mistaken policies in the debtor countries, and not of problems in the financial markets that had made the borrowings possible.
		Similarly, while the Washington consensus prescribes privatisation, and this policy was generally fashionable in the 1990s, developed countries have managed to prosper with all sorts of combinations of public ownership, private ownership, joint ventures and regulation.
	johnquiggin.com /index.php/archives/2005/05/21/beyond-the-washington-consensus (2683 words)

	Fads and Fashion in Economic Reforms: Washington Consensus or Washington Confusion? - Moises Naim - Paper prepared for ...
		In a strange way, the Washington Consensus became an ill-suited and temporary substitute for the all—encompassing ideological frameworks on which millions of people had come to depend to guide their opinions about affairs at home and abroad, judge public policies and even to steer some aspects of their daily lives.
		One of the undoubted historical contributions of the Washington Consensus is that it marked the end of the de-coupling between development economics and mainstream economics that had gathered steam since the 1970s.
		Therefore, the Washington Consensus' prescription that government-imposed barriers to imports and exports, to foreign investment, and to foreign currency transactions had to be lifted was sharply at odds with the long-held conviction that developing countries had to protect their economies from an unfair and exploitative international system rigged against them.
	www.imf.org /external/pubs/ft/seminar/1999/reforms/Naim.HTM (11670 words)

	Beyond the Washington Consensus
		The Washington Consensus policies were based on a rejection of the state’s activist role and the promotion of a minimalist, noninterventionist state.
		The Washington Consensus advocated the use of a small set of instruments (including macroeconomic stability, liberalized trade, and privatization) to achieve a relatively narrow goal: economic growth.
		A second principle of the emerging consensus is that a greater degree of humility is called for, acknowledgement of the fact that we do not have all the answers.
	www.worldbank.org /html/prddr/trans/june1998/washcon.htm (1205 words)

	Neoliberalism and the Global Order Profit Over People Chomsky
		The neoliberal Washington consensus is an array of market oriented principles designed by the government of the United States and the international financial institutions that it largely dominates, and implemented by them in various ways-for the more vulnerable societies, often as stringent structural adjustment programs.
		The "principal architects" of the neoliberal "Washington consensus" are the masters of the private economy, mainly huge corporations that control much of the international economy and have the means to dominate policy formation as well as the structuring of thought and opinion.
		It was highly praised as a prize student of the rules of the Washington consensus and offered as a model for others-as wages collapsed, poverty increased almost as fast as the number of billionaires, foreign capital flowed in (mostly speculative, or for exploitation of cheap labor kept under control by the brutal "democracy").
	www.thirdworldtraveler.com /Chomsky/NeoliberalismPOP_Chom.html (1422 words)

	SSRN-Some Fundamental Inadequacies of the Washington Consensus: Misunderstanding the Poor by the Brightest by Wing Woo
		The Washington Consensus suffers from fundamental inadequacies, and that a more comprehensive framework of the economic process is needed to guide the formulation of country-specific development strategies.
		The Washington Consensus also runs the danger of denying the limitations of self-help in the case of sub-Saharan Africa by overlooking the possibility of poverty traps.
		The Washington Consensus does not understand that the ultimate engine of growth in a predominantly private market economy is technological innovations, and that the state can play a role in facilitating technological innovations.
	www.ssrn.com /abstract=622322 (523 words)

	MemeFirst: Washington Consensus, RIP
		The Washington Consensus has long been attacked from the left –; most comprehensively by the likes of Joe Stiglitz and Nancy Birdsall.
		The policies known as the Washington consensus, pushed by international financial institutions such as the International Monetary Fund and the World Bank, including such measures as privatisation, trade liberalisation and deregulation, failed to take account of missing institutional capacity in many developing nations.
		This is what I've always thought was the problem with the Washington consensus: not that it was poorly conceived (that second quote is from Williamson's paper [PDF] in 1990 coining the term), but it was poorly implemented.
	www.memefirst.com /000616.html (1237 words)

	Washington Consensus revisited
		`Washington Consensus' is a term Williamson used to refer to the lowest common denominator of policy advice being addressed by the Washington-based institutions, directed to Latin American countries as of 1989.
		The Washington Consensus, in its popular version, fails to address the issue of rectification of inequali ties and reduction of deprivation.
		What is missing in the debate on Washington Consensus is the lack of `consensus' between the countries sought to be aided under the reforms process and the institutions that generate and pursue the policy package.
	www.blonnet.com /2001/06/04/stories/040420sv.htm (1373 words)

	International Crisis Group - Beyond the Washington Consensus
		The Washington Consensus has become contentious, and the perception is widespread of discrimination and unfairness in the dominant economic model.
		The Washington Consensus was a ten-point plan elaborated by John Williamson in 1990.
		The Washington Consensus was silent on the political changes taking place in the hemisphere with the decline of military regimes and the end of the Cold War.
	www.crisisgroup.org /home/index.cfm?id=5106 (3510 words)

	Washington Consensus or development economics?
		The faith and fervour with which the Washington Consensus and the underlying neoliberal economic theory was promoted by the Bretton Woods institutions and willy nilly accepted and practised in developing countries received a rude shock in December 1994 (the Mexican peso crisis), and in 1997 and 1998 (the Asian and Russian crises respectively).
		“Consensus” is usually understood to mean a general agreement about something or at least the view of a very large majority, and is usually indicated by some voting or polling procedure.
		In the case of the Washington Consensus (hereafter WC), the term is used rhetorically, to persuade the audience that the positions asserted by the authors are much stronger than the evidence actually warrants.
	www.twnside.org.sg /title/twe274e.htm (625 words)

	AEI - Short Publications - The Politics of No Child Left Behind
		In important ways, the Washington consensus formed out of frustration with the refusal of educators across the nation to accept responsibility for mediocre school performance or to accept the need to fundamentally retool schools that were massively failing fl, Latino, and poor children.
		The NCLB consensus rested on the premise that local education politics are fundamentally broken and that only strong, external pressure focused on student achievement will produce politics focused on school improvement, especially for poor and minority students.
		To date, we believe that the “Washington consensus,” positing that poverty is no excuse for poor student achievement and that only external accountability will push schools and districts to make tough changes needed to improve, remains largely intact.
	www.aei.org /publications/filter.all,pubID.24565/pub_detail.asp (3665 words)

	Washington Consensus
		The phrase “Washington Consensus” is today a very popular and often pilloried term in debates about trade and development.
		It is often seen as synonymous with “neoliberalism” and “globalization.” As the phrase’s originator, John Williamson, says: “Audiences the world over seem to believe that this signifies a set of neoliberal policies that have been imposed on hapless countries by the Washington-based international financial institutions and have led them to crisis and misery.
		As many of the Washington Consensus’ policy components — however it is defined — relate directly to trade policy, it is a debate worth following.
	www.cid.harvard.edu /cidtrade/issues/washington.html (469 words)

	Monterrey: Spinning the Washington Consensus
		The form and ideological content of the globalisation enterprise called the Washington Consensus, due to the convergence of development dogmas between Washington-based institutions, emerged discredited as a dictatorship of nameless, faceless, and unaccountable technocrats obsessed with private market driven growth that sees the masses of impoverished people as incidental to the wealth creation project.
		The Monterrey Consensus maintains the Washington Consensus focus on trade and foreign direct investment as the engines of growth to overcome poverty - despite the overwhelming evidence that this strategy is detrimental to the poor.
		The Monterrey Consensus should at best be regarded as a carefully managed negotiation process in which the Washington Consensus prevailed, and which the spinners are now driving as a new model - all the way to Johannesburg.
	www.holycrossjustice.org /Removed/monterrey.htm (1152 words)

	Political Affairs Magazine - The “Washington Consensus” and “Beijing Consensus” (Site not responding. Last check: )
		Much debate has been going on centered on the “Washington Consensus” and “Beijing Consensus.” The debate is very much worth analyzing since it involves directional questions such as how to command the overall situation with a scientific outlook on development, truly improve the socialist market economy system and build a harmonious socialist society.
		The “shock therapy” based on the “Washington Consensus” later became the guiding principle for the reform in former Soviet Union and East European countries.
		Participants of the “Washington Consensus” reached their consensus on the basis of actual acceptance of Neo-liberalism, while the “Beijing Consensus” was brought forward spontaneously by international opinions against the background of China's fast economic development since the reform and opening up and considerable raise in people's living standard.
	politicalaffairs.net /article/view/1336 (1137 words)

	More Instruments and Broader Goals: Moving Toward the Post-Washington Consensus
		I will also argue that there were other ingredients that are essential to economic growth that too were left out or underemphasized by the Washington Consensus; one has been widely recognized within the development community, education, but the others, such as the improvement of technology, have perhaps not received the attention they deserve.
		The Washington Consensus developed in a context of highly regulated financial systems, while many of the regulations were designed to limit competition, not to promote of the four legitimate objectives of regulation.
		The Washington Consensus policies I have discussed were based on a rejection of the state's activist role and the promotion of a minimalist, non-interventionist state.
	www.globalpolicy.org /socecon/bwi-wto/stig.htm (9757 words)

	Asia Times Online :: Asian news and current affairs - Beyond the Washington Consensus
		By the first half of this decade, the Consensus had undergone a process of unraveling, although neo-liberalism remained the default mode, simply out of inertia, for many economists and technocrats who had in fact lost confidence in it.
		Mindful of the failures of the Washington Consensus, the IMF and the World Bank are now promoting what Nobel laureate Joseph Stiglitz has disdainfully described as the "Washington Consensus Plus" approach: market reforms, while crucial, are not enough.
		Compared with the original Washington Consensus, neo-conservative neo-liberalism is less doctrinaire, but in an illiberal direction, ready as it is to let the market play second fiddle to power.
	www.atimes.com /atimes/Global_Economy/II26Dj03.html (1245 words)

	The IMF and the Washington Consensus:
		Staunch Opposition to the Consensus Joseph Stiglitz, former chief economist of the World Bank and leading critic of the IMF, illustrates the flaws of the Washington Consensus.
		Stiglitz observes that one of the overarching themes of the Washington Consensus is the implementation of fiscally conservative policies, i.e.
		In relentless pursuit of the Consensus' macroeconomic discipline, privatization and liberalization of trade and capital markets, originally envisioned by Williams as a viable means to promote healthy growth, the IMF tacked on coercive reformatory mandates to its loans without regard for the individual circumstances of the debtor country.
	www.globalexchange.org /campaigns/wbimf/3493.html (2002 words)

	Forum 2004 - Documents: From the Washington Consensus towards a New Global Governance
		The various Dialogue sessions were organised in five blocks and their objective was to introduce the contents of the Washington Consensus, analyse the issues of domestic and international policy that determine development, discuss new growth and development proposals and, finally, establish the conclusions of the principles of a new global governance.
		For Williamson, “the criticism of the Washington Consensus has more to do with omission than commission”, given that the main objective of the document was “that countries move towards a market economy”.
		Continuing with the points of consensus, the experts agreed when they highlighted the deficiencies of the international institutions and unequal international relations as the main obstacle to growth in developing countries.
	www.barcelona2004.org /eng/banco_del_conocimiento/documentos/ficha.cfm?idDoc=2816 (1924 words)

	A New Latin Consensus
		Indeed, 15 years after the Washington Consensus there is very little consensus on what to do next.
		Moreover, he contends, it was the prescribed economic reforms of the Washington Consensus that helped weaken them.
		In the search for the answer, it may be useful to draw one obvious lesson from the Washington Consensus experience in Latin America: that it was too narrow.
	www.washingtonpost.com /wp-dyn/content/article/2005/07/15/AR2005071501560_pf.html (714 words)

	AEI - Short Publications - Whither the Washington Consensus?
		Thousands of schools are ''in need of improvement,'' the ''highly qualified teachers'' deadline has come and gone without a single state in compliance, and millions of parents and educators are still struggling to make sense of terms like ''adequate yearly progress.'' Newspaper stories flag problems with state testing systems and supplemental educational services.
		Pivotal to determining whether the Washington Consensus holds will be the stance of two liberal lions--Senator Ted Kennedy and Representative George Miller, ranking members of Congress's education committees--and their determination to stand up to angry teacher unions and popular unrest.
		The Washington Consensus was born during the first Clinton Administration, after all.
	www.aei.org /publications/pubID.24487,filter.all/pub_detail.asp (766 words)

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