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A Post Keynesian view of the Washington consensus and how to improve it

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  • PAUL DAVIDSON

Abstract

The evidence of the past 15 years has demonstrated that attempting to implement the 10 reforms of the Washington Consensus has ultimately proven to be a disaster for developing nations. If the empirical evidence is of the failure of the Washington Consensus, then why does the G-7, the World Bank, and the IMF seek to tie aid for Latin American nations' economic problems to a demand for the nation to move toward full adoption of the 10 consensus reforms? This paper provides an explanation and suggests alternative policies to achieve success.

Suggested Citation

  • Paul Davidson, 2004. "A Post Keynesian view of the Washington consensus and how to improve it," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(2), pages 208-230.
    • Handle: RePEc:mes:postke:v:27:y:2004:i:2:p:208-230
    DOI: 10.1080/01603477.2004.11051440
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    Cited by:

    1. Eric Berr, 2006. "Keynes and the Post Keynesians on Sustainable Development," Post-Print hal-00388849, HAL.
    2. Carabelli, Anna & Cedrini, Mario, 2013. "Globalization and Keynes's Ideal of a 'Sounder Political Economy between All Nations," CESMEP Working Papers 201305, University of Turin.
    3. Eric Berr & François Combarnous & Eric Rougier, 2005. "Too much consensus could be harmful : measuring the degree of implementation of the Washington consensus and its impact on economic growth," Documents de travail 116, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.
    4. Carabelli, Anna & Cedrini, Mario, 2014. "Not Beautiful, not Just, not Virtuous; 'And It Doesn't Deliver the Goods'. Capitalism and “Fear of Goods” in Keynes's Thought," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201438, University of Turin.
    5. Priewe, Jan, 2015. "Eight strategies for development in comparison," IPE Working Papers 53/2015, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    6. repec:grt:wpegrt:2014-21 is not listed on IDEAS
    7. Jan PRIEWE, 2016. "Eight Strategies for Development in Comparison," Turkish Economic Review, KSP Journals, vol. 3(3), pages 401-430, September.

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