Cheerful Charlie
Contributor
http://fortune.com/2016/06/03/imf-neoliberalism-failing/
By Ben Geier June 3, 2016
Asking if the International Monetary Fund supports economic neoliberalism is like asking if the Pope is Catholic — the answer is so obvious it seems silly to even raise the question. The IMF has been one of the principle endorsers of neoliberalism—an ideology that promotes free markets, free trade, and small government—for decades.
That is what makes it so shocking that the IMF recently released a paper titled “Neoliberalism: Oversold?” questioning the efficacy of a program that has been the basis of mainstream economic policy in most of the Western world since the end of the Cold War.
The paper — written by IMF Deputy Director Jonathan Ostry, Division Chief Prakash Loungani, and economist Davide Furceri — proposes that neoliberal economic policies have resulted in increased inequality and stunted economic growth.
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So, if Neo-liberalism has failed, and supply side economics has failed perhaps it is time to try Social Democracy.
By Ben Geier June 3, 2016
Asking if the International Monetary Fund supports economic neoliberalism is like asking if the Pope is Catholic — the answer is so obvious it seems silly to even raise the question. The IMF has been one of the principle endorsers of neoliberalism—an ideology that promotes free markets, free trade, and small government—for decades.
That is what makes it so shocking that the IMF recently released a paper titled “Neoliberalism: Oversold?” questioning the efficacy of a program that has been the basis of mainstream economic policy in most of the Western world since the end of the Cold War.
The paper — written by IMF Deputy Director Jonathan Ostry, Division Chief Prakash Loungani, and economist Davide Furceri — proposes that neoliberal economic policies have resulted in increased inequality and stunted economic growth.
----
So, if Neo-liberalism has failed, and supply side economics has failed perhaps it is time to try Social Democracy.
