11181. Response to Kanbur
- Author:
- Colin Hottman
- Publication Date:
- 08-2010
- Content Type:
- Journal Article
- Journal:
- Macalester International
- Institution:
- Macalester College
- Abstract:
- Within the economic development discourse, few ideas have been as contested as the “Washington Consensus.” It is widely considered to be both synonymous with neo-liberalism and hegemonic within the discourse. By placing the Washington Consensus within a historical context, Professor Kanbur shows that it emerged as a response to the statist development consensus of the 1950s–1970s. Several important lessons can be drawn from this circumstance. First, each distinct period of development policy, both the early state-directed policies and later the Washington Consensus, were promoted by economists and international financial institutions at the time. Second, the economic development discourse is event driven. Third, the new economic development consensus differs fundamentally from previous prescriptions since it is not “one size fits all.” Each of these lessons will be covered in Section II of this essay.
- Political Geography:
- Washington