Washington Consensus

Since 1989 when the term Washington Consensus first appeared and throughout its short history there have been various interpretations of what it could signify. It has been described as a new form embodying imperialism, as a tool to undermine states, as the introduction of the laissez-faire economy etc. (Williamson, 2004: 6). Some more crucial definitions that Williamson provides in his historical overview are the usage of the term Washington Consensus when referring to the Bretton Woods institutions (World Trade Organization, World Bank, International Monetary Fund) and neoliberalism or market fundamentalism. The former tend to describe the policies of those institutions along those of the US towards client countries. The later does not seem to reflect the original meaning and it only remains for Williamson to add that the term “should surely refer to a set of policies that command or commanded a consensus in some significant part of Washington, either the US government or the IFIs or both, or perhaps both plus some other group.“ (Ibid: 7). The original list of the Washington Consensus encompasses ten proposed reforms being fiscal discipline, reordering public expenditure barriers, tax…

The phrase ‘Washington Consensus’ was coined by John Williamson in reference to a set of policy tools that Washington based institutions, in particular, the IMF, World Bank and the US Treasury could agree upon as the appropriate policy solutions to the Latin American debt crisis. In sum, these policy tools prescribed economic stabilisation, liberalisation and privatisation for developing countries as the keys to development, (Rodrik, 2001). Those policies were deemed necessary to achieve…

For long, the policy prescription by the Washington Consensus played a pivotal role in the development of many African nations. The Washington Consensus was a neo-liberal approach largely adopted by international financial institutions from about the 1980’s through the first decade of the new millennium. With many African countries economic policy thinking largely externally shaped, it was no surprise that the so called Washington Consensus became the doctrine of the day. Many nations in Africa,…

In other words, it is the tendency of members of highly cohesive groups to ignore information inconsistent with their views in order to stay within the comfort zone of their group’s consensus view. Groups with a groupthink mentality are characterized by an illusion of vulnerability, an illusion of unanimity, the practice of self-censorship by members, and a display of negative pressure towards potential dissenters (lecture). As a result, members rarely propose or publicly accept dissenting…

Geographic, whereas his predecessor made self-contained decisions, without consulting others much. As it turned out, Moore’s new, consensus style of leadership did not work well, in part, because the departmental managers seemed to be down in their own functional silos and reluctant to offer much input beyond the borders of their own departments. Contrastingly, however, in private, they often spoke ill of their colleagues and laid blame for the company’s problems on others without much…

Social Constructionist Theory (SCT) in essence is the meaning, notion, or suggestion placed on an object or event by a society, and adopted by the people of that society with how they view or deal with that object or event. This idea may be accepted as natural by one culture, but may or may not represented as reality shared by those outside their culture. For example, one might think the sky is blue where another may think it is yellow, it is all about perception and how society taught us what…

and information and to generate problem solutions through cooperative sharing of ideas. Consensus-based decision making Effective group decisions are based on consensus. Consensus means that team or group members are actively encouraged and supported to participate in the decision making processes, and to assume responsibility and exercise initiative as appropriate on the basis of agreement. Agreement is achieved as a result of examination of information relevant to the issues under…

I had a hard time deciding whether I agreed or disagreed with the above quote. On one hand, yes, America has succeeded in establishing a progressive political system and envisioned a new idea of what it means to be free, but on the other hand, I feel as though that the United States has departed from the ideas of freedom, responsible government, and human equality. In the end, I decided that I disagree with the idea of America is much more of a political and moral fact. What started as the…

The United States became a more democratic society after the Civil War through the liberation of African American slaves and development of racial equality and the increase of mobility and empowerment of women. Both of these aspects were previously treated with grave inequalities, and after the Civil War each group steadily gained more power and freedom. A democratic society must include freedoms for all citizens regardless of their origins. The definition of a democratic society is very…

The freedom and openness of media plays a central role in politics and it is often portrayed as a fourth branch of government in democratic systems, such as the United States (Choi, James, 2006). Ideally, the role of the media in a democratic state is to provide a voice for the marginalized in society. Therefore, a failure to ensure press freedom is a democratic failure. This essay will explore the way in which the negative portrayal of African Americans in the media has led to oppressive…