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Neoliberalism

Weekly wire: The global forum

Roxanne Bauer's picture

World of NewsThese are some of the views and reports relevant to our readers that caught our attention this week.


The IMF Confronts Its N-Word
Foreign Policy

The research department of the International Monetary Fund dropped a political bombshell last month. The furor was set off by the publication of an article — “Neoliberalism: Oversold?” — that sparked a near-panic among advocates of free market policies and celebrations among their critics. The piece concluded that, over the past 30 years, the proponents of the economic philosophy known as “neoliberalism” have been systematically overselling the benefits of the two planks at its heart — namely, fiscal austerity during economic slowdowns and the deregulation of financial markets.

Bridging data gaps for policymaking: crowdsourcing and big data for development
DevPolicy Blog

Good data to inform policymaking, particularly in developing countries, is often scarce. The problem is in part due to supply issues – high costs, insufficient time, and low capacity – but also due to lack of demand: policies are rarely shown to be abject failures when there is no data to evaluate them. The wonderful phrase “policy-based evidence making” (the converse of “evidenced-based policy making”) comes to mind when thinking about the latter. However, technological innovations are helping to bridge some of the data gaps. What are the innovations in data collection and what are the trade-offs being made when using them to inform policy?

New Pragmatism versus Failing Neoliberalism

Grzegorz W. Kolodko's picture

The source of the current global economic crisis lies deeply in U.S.-style neoliberal capitalism, or contemporary laissez faire. It could not have been triggered in countries with a social market economy, but only in the conditions of the neoliberal Anglo-American model. The intense shock the world experienced could take place only as a result of the coincidence of numerous political, social and economic circumstances (as well as technological ones, since it would not have been possible without the Internet). The overlapping of these conditions in a specific way, which accumulated the crisis-related phenomena and processes, was possible only under a special combination of values, institutions and policies — are typical of U.S.-style neoliberalism.