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Reclaiming development from the Washington consensus

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Author Info

  • HA-JOON CHANG
  • ILENE GRABEL

Abstract

This paper summarizes our new book, Reclaiming Development: An Alternative Economic Policy Manual (Chang and Grabel, 2004). It begins from the premise that the view that there is no alternative to neoliberal economic policies in developing countries is fundamentally and dangerously incorrect. The "no alternative" dictum has commonly been associated with popularizations (and arguably, misinterpretations) of Williamson's original statement of the "Washington Consensus." We demonstrate that feasible alternatives to neo-liberal policies exist that can promote rapid economic development that is equitable, stable, and sustainable. Some of these are proposals for strategies not yet adopted. But many others have already proven their worth in practice across the globe. We offer them in order to shatter the idea that there is no alternative, and to contribute to the vigorous campaign now underway across the globe to "reclaim development" from the neoliberal orthodoxy.

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Bibliographic Info

Article provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.

Volume (Year): 27 (2004)
Issue (Month): 2 (December)
Pages: 273-291

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Handle: RePEc:mes:postke:v:27:y:2004:i:2:p:273-291

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348

Related research

Keywords: alternative development policies; neoliberal policy; Washington Consensus;

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Cited by:
  1. Cedrini Mario, 2007. "Consensus vs. freedom of consensus upon freedom? From Washington disorder to the rediscovery of Keynes," CESMEP Working Papers 200708, University of Turin.
  2. Clifton, Judith & Díaz-Fuentes, Daniel, 2011. "La Nueva Política Económica de la OCDE ante el cambio en la Economía Mundial
    [The New Political Economy of the OECD in a context of Shifting World Wealth]
    ," MPRA Paper 33010, University Library of Munich, Germany.

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