Joseph Stiglitz presents (PowerPoint) on the emergence of a Post Washington Consensus Consensus, arguing that the Washington Consensus has proved neither necessary nor sufficient for successful development, even if each of its policies made sense for particular countries at particular times. Any future consensus cannot be made just in Washington, and any new framework must provide better and greater adaptation to the circumstances of the countries involved, with an emphasis on the importance of equity and employment. Stiglitz also calls for a balanced role of government and markets that promotes and regulates markets, provides institutional and physical infrastructure, and promotes education, innovation, and technology.
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