April 04, 2007

Time for True Market Reform
April 2, 2007
The mantra of economists, central bankers, the World Bank, the IMF and others advising developing countries calls for , above all, market reform. Un-packing the jargon, they mean de-regulation, free trade, privatization, convertible currencies, export and debt-led growth and flexible labor markets – summarized as the "Washington Consensus." Today, the call for market reform is morphing into demands for reforming markets and capitalism itself.