The New Development Economics: Post Washington Consensus Neoliberal Thinking

Synopsis

Much is being made of the World Bank's apparent retreat from the neoliberal market economics of the Washington Consensus. Dissidents such as former World Bank chief economist Joseph Stiglitz have been trenchant in their criticisms. New concepts and priorities have been taken on board. But how much has really changed? Has the so-called post-Washington Consensus and its 'New' Development Economics really parted company with the simplistic nostrums of market economics? This book probes the transition to the new thinking and its key postulates; the continuing promotion of free trade; new economic growth theory; its analysis of technology and development; access to capital and financial planning; the development state; privatisation policy; the concept of human capital; and the approach to agriculture and development.