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The Washington Consensus and the Establishment of the (Neo) Liberal Creed
Such a phenomenon we could see in the time, when founded the World Bank and Monetary Fund – 1944. In that time emerge assumption, that the economic liberalism, which emerge in 1920s. – fully liberalized market system is socially and politically impossible. Self – regulating markets cannot endure. There emerge general agreements (basis already in 1930s), that governments should play a central role in regulating both national and international economical systems. In the result, international economic and even economic environment changed dramatically. But, as time shows, the increasing difficulties, and a final collapse of the Soviet system also shows, that “planning” economy more generally along with political support for non – free market policies faded away. Time after time, economic systems, like all world changes. Banks change its positions too and took form of neoliberalism for purpose to achieve development. Also, with Washington`s ideological shifts of the 1980s, switched toward papers “demonstrating” that government interventions in the market slow economic growth (neoliberal assertion). So Washington Consensus amalgamates long standing IMF macroeconomic stabilization policies, the World`s Bank`s adoption of the market deregulation and supply side economics ideas in vogue in Washington. The consensus has evolved over time, often away from originally extreme positions, but essentials have not changed. A result, we could assumed, that Washington Consensus had left really important mark in international economy and led as with its strategy`s through the countries experiences to establishment of the liberal (neoliberal) creed. …
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