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Beware Economists Bearing Policy Paradigms
Tuesday, May 25th, 2021
The ideas dominant since the 1980s – variously called the Washington Consensus, market fundamentalism, or neoliberalism – originally gained traction because of the perceived failures of Keynesianism and excessive government regulation. But they took on a life of their own and produced highly financialized, unequal, and unstable economies that were unequipped to cope with today’s most significant challenges: climate change, social inclusion, and disruptive new technologies.
Tags: economy, featured, ideology, poverty, privatization, standard of living, tax
Posted in History | No Comments »
Stunning IMF policy reversal sets the stage for Robin Hood
Monday, March 22nd, 2010
Mar 22 2010
Support for a global financial transaction tax is growing. A group of NGOs have rechristened it the “Robin Hood tax,” and have launched a global campaign to promote it, complete with a deliciously biting video clip featuring British actor Bill Nighy (www.robinhoodtax.org). Significantly, the European Union has thrown its weight behind the tax and urged the IMF to pursue it. The only major holdout is the United States…
What made finance so lethal in the past was the combination of economists’ ideas with the political power of banks. The bad news is that big banks retain significant political power. The good news is that the intellectual climate has shifted decisively against them. Shorn of support from economists, the financial industry will have a much harder time preventing the fetish of free finance from being tossed into the dustbin of history.
Tags: featured
Posted in Governance Debates | No Comments »
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