Overlapping consensus

Literature Review -Neellohit Datta (1315709) Topic: The Effectiveness of Fuel Subsidies on Developing Economies Introduction: “Black Gold” is the other name for petroleum, the reason being, it is black when it is extracted, and subsequently the byproducts such as petrol, diesel, LPG, propane and so on are as precious as gold. As importing fuel for the less petroleum rich countries is costly, the government generally gives subsidies to the residents of the nation

the labour regulation and economic crisis (ILO, 2013). All these challenges that are present in the developing countries closely relate to the Structural Adjustment Programs and Washington Consensus, giving recipes of liberal economic organization to let the free market function. 1.2. Washington Consensus, SAP The debt crisis in Latin America of 1980s let IMF (International Monetary Fund) and WB (World Bank) to think about solutions for the indebted governments to maintain economic stabilization

when President Bush cut off all funds from Brazil’s AIDS program, these questions seemed to be answered, and major protests erupted across the country in response to the U.S. religious agenda, along with the neoliberal agenda of the Washington Consensus (Amar, 438). However, after a clear shift from this Isolationist view to an International one, different mechanisms shifted society from repressive, into a much more empowering one (Bernstein, 430). This new view is seen as a “new

Bjorn Lomborg brought forward what he believes the be a list of problems that plague the world in the order that they should be solves. Lomborg argues that malaria control, subsidies and trade barriers, malnutrition, and HIV/AIDS are the four problems which should take priority as they will have the most output for the amount of input. I do agree that in order to solve world problems you first must know how to approach them and which should be tackled first. I disagree with the purely economic perspective

also discusses the idea that globalization is merely an extension of colonialism and imperialism and that impact on developing nations and economies through their interactions with the Washington Consensus. The factors that contributed to economic change were extremely intertwined with the Washington Consensus and globalization. The end of the Cold War contributed to the multipolarity of how the states now interact. By opening up free markets, states were then able to shift they economies and become

The World Bank and the IMF are collectively known as the Bretton Woods institutions. They were formed at a conference in Bretton Woods in New Hampshire with the aim to addressing concerns to do with stability of world economic markets. IMF is mainly tasked with offering surveillance, financial aid and technical assistance. IMF has 187 member states who each appoint a representative to the IMF’s board of Governors. The World Bank has its voting power controlled by the USA and it was built with the

As a result of the inadequacies of the World Bank and IMF, Uganda today appears to be no better off today then as they were in the year(s) prior to acquiring the assistance in debt relief in 1998. According to Ana Eiras; “Despite such a monstrous display of resources, according to the index of economic freedom, the Bank’s money has done nothing to improve the economic freedom in recipient countries”. Erias goes on to make it clear that many of the country’s who have received assistance have seen

Using a country of your choice, discuss the impact of the Bretton Wood Institutions on Human Development in Sub-Saharan Africa. Introduction The Bretton woods institutions are the International Monetary Fund (IMF) and the World Bank. They were setup at the end of the Second World War in order to rebuild the devastated post-war economy and to promote international economic cooperation. The main focus of the IMF is to maintain exchange stability by harmonising its members’ monetary policies1

NEGATIVE IMPACTS OF WORLD BANK’S STRUCTURAL ADJUSTMENT PROGRAM (SAP) IN GHANA INTRODUCTION: Writing about the negative impacts of The World Bank Structural Adjustment Program in Ghana, my country of origin is something I can do with my eyes closed, because being an ordinary Ghanaian, born and raised in Ghana, I do not need a research to know what these institutions have done to the developing countries they impose their ill intended programs on. Even the blind can feel hunger, lack of access to

– Washington Consensus a new Paradigm for Development? Explain your reasoning. Quote (40) If there is a consensus today about which strategies are most likely to promote the development of the poorest countries in the world, it is this: there is no consensus except that the Washington Consensus did not provide the answer. (Stiglitz 2004, 2) Introduction (250) Within the Global Political economic, there have been a number of considerations about whether or not the Washington consensus and the “Post-Washington