The theme of this week’s annual meetings of the International Monetary Fund and the World Bank is shared prosperity. In years gone by, the Washington consensus was all about opening up markets and cutting public spending. The new Washington consensus is the need to tackle inequality.
Everybody is getting in on the act. Justin Welby, the archbishop of Canterbury, will share a platform with Christine Lagarde, the head of the IMF, and Mark Carney, the governor of the Bank of England, next weekend to discuss how to make global capitalism more inclusive.
The World Economic Forum – the body that organises the Davos shindig – thinks it can go one better. It is angling to get the pope along for its annual meeting in January.
Neoliberalism as a parody of itself.
The Guardian
The new Washington consensus - time to fight rising inequality
Larry Elliott | Economics Editor
(h/t Mark Thoma at Economist's View)
(h/t Mark Thoma at Economist's View)
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