1989 The Washington Consensus
At almost the same time the ideology and practices perfected across these cases were put into words: the 1989 Washington Consensus, an agreement by think tanks, economists, and administration alike. The consensus was a reiteration of Chicago school ideology, writ large and politicised unabashedly. The focus was narrowly on the reduction of inflation by means of privatisation and conditional foreign aid. Significantly, inherent in the consensus was the awareness that crises are the best time for economic reform and profit for the international financial community; more shocking is the suggestion of the prerogative to CREATE a crisis to enable reform. Over the course of the 80's and 90's, these are the thinkers who gained control of the World Bank, the IMF, as well as top advisor positions to developing countries around the world.
Posted by Alexander