The original list of the Washington Consensus encompasses ten proposed reforms being fiscal discipline, reordering public expenditure barriers, tax …show more content…
Huntington’s definition of developmental goals does not only include growth, but also socio-economic equality, political stability, political democracy, and national autonomy. A GDP measured growth is increasingly criticized for being inadequate for the measurement of social progress or well being. Additionally it is negatively correlated to most other developmental factors. Stiglitz summarizes the widely assumed correlation between the process development and market growth as following: “There is no theoretical evidence that in early stages markets by themselves will lead to effective