Crescimento económico e desigualdade: As novidades pós‑Consenso de Washington

Abstract

The debate on economic policy has developed significantly in the past decade. The so-called Washington Consensus, which dictated most of the solutions proposed by international financial organisations, began to be questioned when a large number of emerging economies reduced their reliance on multilateral debt. The crisis of 2008 and 2009 accelerated the process of reflection on the prescriptive nature of the policy proposals advocated by monetarists, with their insistence on a uniform view as if all situations were alike. This has been termed ideology, and the ideology associated with the Washington Consensus has failed even in its methodological principles, as clearly demonstrated by the internal debate within organisations such as the International Monetary Fund or the World Bank. This article reviews the various internal arguments of the international financial organisations within the debate and provides a critique of preconstructed models involving a return to Keynesian economics. It ends with an optimistic view of the broadening and democratisation of the debate on economic policies, termed the new features of the post-Washington Consensus.

Keywords

• economic development
• financial crisis
• financial system
• globalization
• Washington Consensus