The International Monetary Fund is one of the institutions that was born out of the Bretton Woods conference in 1944. The 44 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s. 498 more words
Tags » Washington Consensus
Europe’s Elections: A Coming Storm?
Dispatches From The Edge
Aug. 26, 2015
Between now and next April, four members of the European Union (EU) will hold national elections that will go a long ways toward determining whether the 28-member organization will continue to follow an economic model that has generated vast wealth for a few, widespread misery for many, and growing income inequality. 1,800 more words
Leave on vacation and look what happens.
Here, I thought August is supposed to be a slow month.
It’s hard not to look around right now and feel like the end of the world is upon us with the stock market turmoil leading a former British official to call for people to stock up on… 486 more words
Ukraine and the Euromaidan revolution were a turning page in History. One could argue that the Colour revolutions, the Arab Spring, the Ossetia War and even the Atlantic interventions of the preceding decades, had been proof enough of the limits of the ‘end of history’ but Ukraine is more meaningful because it had everything to become the poster child of globalism: it is an avowedly pro-Western movement, nurtured by the West, while not depending on the West in military hard-power terms. 736 more words
What Developing Nations Can Learn From Greece, The Washington Consensus and the International Monetary Fund
As Greece’s bail-out program expires tonight with the failure of Athens to pay €1.6bn ($1.78bn) owed to the International Monetary Fund (IMF), not only will the country become the first advanced economy to default to the fund in its 71-year history, it will also become the IMF’s biggest debtor. 1,807 more words
The political and economic elite in the US is threatened by an alternative model for organizing society. This is the perverse flip side to Margaret Thatchers admonishment–“there is no alternative.” However, the constant repetition of the this free market dogma in recent years is not a sign of strength as much as… 1,277 more words