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After 1980 the consensus of the economic profession was "neoliberal".

Joseph Stiglitz in Globalization and its Discontents has an interesting description of how the IMF and World Bank gor gradually purged of their old Keynesian staff and replaced it with the "Washington Consensus" we know and love.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Sun Nov 2nd, 2014 at 04:59:35 PM EST
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