Democracy and the “ Washington Consensus ”
نویسنده
چکیده
This paper argues that there is a substantial body of economic advice, roughly summarized in the “Washington consensus,” that deserves to be endorsed across the political spectrum. Such endorsement would still leave a series of major economic issues, most notably the tradeoff between efficiency and equity, to be determined by the outcome of the political process. It is argued that the “left,” interpreted as those who give relatively more weight to equity, will advance its cause by embracing the mainstream economics summarized by the consensus.
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