So I was reading this interesting article on the NYTimes about the Joseph Stiglitz and the ‘Initiative for Policy Dialogue’ which believes that the correct economic policies are those which are tailored to suit the countries they are applied in. An excerpt :
Undeterred, Mr. Stiglitz is taking aim at the so-called Washington consensus, a package of free-market, free-trade policies that, critics charge, the I.M.F. and World Bank have imposed on third world nations. “We disagree with the World Bank-I.M.F. idea that there’s one approach that’s right for all countries,” Mr. Stiglitz said. Rather, he said, there is a range of policies that must be selected based on conditions in each country.
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