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IMF Post On Neoliberalism Raises Questions About Organization's Policies

The International Monetary Fund in Washington, D.C. (Flickr/Creative Commons, @World Bank Photo Collection).
The International Monetary Fund in Washington, D.C. (Flickr/Creative Commons, @World Bank Photo Collection).

Posts on the website of the International Monetary Fund do not usually go viral, but one did this week.

The post was titled “Neoliberalism: Oversold?” Written by IMF researchers, it argues that neoliberal policies – that have been promoted by the IMF and western countries – may not live up to their promise. It said policies like privatization and opening markets to foreign competition have some benefits, but also some serious downsides, like increased inequality which can hurt growth.

Here & Now‘s Robin Young talks with Simon Johnson, a former IMF chief economist and current professor at MIT’s Sloan School of Management.

Guest

  • Simon Johnson, professor at MIT’s Sloan School of Management, senior fellow at the Peterson Institute For International Economics and former chief economist at the IMF.

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