Editing Neoliberalism (section)

=== Washington Consensus ===
{{Main |Washington Consensus}}
{{See also |Structural adjustment}}
The Washington Consensus is a set of standardized policy prescriptions often associated with neoliberalism that were developed by the [[International Monetary Fund]] (IMF), the [[World Bank]], and the [[US Department of Treasury]] for crisis-wracked developing countries.<ref>{{Cite book |last1=Serra |first1=Narcís |url=https://growthlab.cid.harvard.edu/files/growthlab/files/serra8.pdf |title=The Washington Consensus Reconsidered: Towards a New Global Governance |last2=Spiegal |first2=Shari |last3=Stiglitz |first3=Joseph E. |publisher=[[Oxford University Press]] |year=2008 |isbn=978-0199534098 |editor1-last=Serra |editor1-first=Narcis |location=Oxford |pages=3–30 |editor2-last=Stiglitz |editor2-first=Joseph E. |archive-url=https://web.archive.org/web/20191122122944/https://growthlab.cid.harvard.edu/files/growthlab/files/serra8.pdf |archive-date=November 22, 2019}}</ref><ref>{{Cite news |last1=Birdsall |first1=Nancy |last2=Fukuyama |first2=Francis |date=April 2011 |title=The Post-Washington Consensus |work=[[Foreign Affairs]] |url=https://www.foreignaffairs.com/articles/2011-02-16/post-washington-consensus |url-status=live |access-date=July 23, 2020 |archive-url=https://web.archive.org/web/20200705195642/https://www.foreignaffairs.com/articles/2011-02-16/post-washington-consensus |archive-date=July 5, 2020}}</ref><ref>{{cite web |last1=Hurt |first1=Stephen R. |title=Washington Consensus |url=https://www.britannica.com/topic/Washington-consensus |website=Encyclopædia Britannica |access-date=July 8, 2019}}</ref> These prescriptions, often attached as conditions for loans from the IMF and World Bank, focus on market [[liberalization]], and in particular on lowering [[barriers to trade]], controlling [[inflation]], privatizing [[state-owned enterprise]]s, and reducing government budget deficits. [[John Williamson (economist)|John Williamson]], a British-born economist defined the [[Washington Consensus]] by making in 1989 10 rules that were imposed by the World Bank, the International Monetary Fund and the US government on developing nations.<ref name=Williamson2002>Williamson J. (2002). [https://piie.com/commentary/speeches-papers/did-washington-consensus-fail ''Did the Washington Consensus Fail?'']</ref> He came to strongly oppose the way those recommendations were actually imposed and their use by neoliberals.<ref name = NYT>{{cite news|title = John Williamson, 83, Dies; Economist Defined the 'Washington Consensus'|url = https://www.nytimes.com/2021/04/15/business/economy/john-williamson-dead.html|last = Risen|first = Clay|date = April 15, 2021|access-date = April 19, 2021|work = [[The New York Times]]}}</ref>