The assumption that free market reforms have failed to resurrect the economies of developing countries has become orthodoxy in some circles. Critics contend that market approaches are incompatible with the realities in developing countries.
Federal Reserve Policy: A Public Letter of Concern
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John Williamson, economist who devised Washington Consensus model of reform, dies at 83
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Dear Capitolisters,
An increasingly common tactic on the populist right is to label skeptics of new government programs (protectionism, subsidies, etc.) “free market fundamentalists” who dogmatically oppose any and all government regulation and believe in the perfection of free markets (or whatever). The ploy is hardly new Wikipedia (citing the U.N.!) notes that the term is a common pejorative that’s been employed by pro-“interventionist” lefties like Joseph Stiglitz, Paul Krugman, and George Soros but it’s recently become the go‐to label for many on the nationalist right who have long championed protectionist and other market‐skeptical policies or who see the Rise of Trump as their golden ticket to political power and, perhaps, even riches. Indeed, one can hardly read an op‐ed by or article about these up‐and‐coming policy entrepreneurs without encountering some form of “market fundamentalist” rhetoric, which is used to quickly brush a