Washington Consensus

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  • Washington Consensus Theory

    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…

    Words: 1068 - Pages: 4
  • The Washington Consensus In The African Economy

    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,…

    Words: 769 - Pages: 4
  • Washington Consensus Case Study

    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…

    Words: 1524 - Pages: 7
  • Mean Girls Analysis

    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…

    Words: 825 - Pages: 4
  • Chattanooga Ice Cream Essay

    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…

    Words: 1041 - Pages: 5
  • Costco Risk Assessment

    Costco Wholesale Corporation, which is a wholesale giant in the United States. The primary intention of this report is to highlight the basic organizational location and financial information, along with the computing and network infrastructure details to help layout the detailed structure of an Information Technology (IT) risk assessment report. As part of the risk assessment report, the key elements emphasized are the threats and vulnerabilities that are possible in the current system and…

    Words: 935 - Pages: 4
  • Importance Of Chattel Slavery

    As English settlers became more desperate for someone to work the land in the newly settled Jamestown, they quickly realized that using the Natives was not an option. The opportunity to use blacks as servants was an obvious choice, as they were already known to be slaves. (Zinn 10) Now, the question of how did they reconcile emergent chattel slavery with Christian precepts is an interesting one. Zinn references a letter written by the Catholic priest Father Sandoval asking the Church if the…

    Words: 1921 - Pages: 8
  • Assimilation Through Education Essay

    Education through Assimilation After the American Civil War, why did the American government feel the need to place Indian children of the Pacific Northwest in government run schools in order to make these native children fit into the American society? In the essay “Assimilation through Education: Indian Boarding Schools in the Pacific Northwest” by Carolyn Marr, she described the educational plight of Indian children from the 1880’s to the 1920’s. The United States government felt that…

    Words: 1334 - Pages: 6
  • Equalizing School Funding

    school funding system was unconstitutional; however, after thirteen years, “the fight for adequate school funding in Ohio never truly ended” (B.Y.U. 132) This is because the legislatures see school funding as a sensitive topic. They are afraid to get involved because they want to maintain your political position. If they speak out for or against change, they may get voted out of office. While politicians are trying to avoid the complex topic, lawsuits continue to be filed which illustrate the…

    Words: 1914 - Pages: 8
  • Federal Versus State: Federal Vs. State

    Federal Versus State Many different aspects of governments go through power struggles, but sometimes it is which government itself is more powerful. The struggle between Federal Government and the state has existed since colonization. Both often feel that one should have more power than the other, but also are unsure which one does in fact have more power. Several events and documents have changed these standings over time in many different ways. One of the first documents created that gave…

    Words: 1563 - Pages: 7
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