by Mark Thoma, University of Oregon (Department of Economics)

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Stiglitz: The End of Neo-Liberalism?

Posted on July 07, 2008

Is there a silver lining in the cloud now hanging over the global economy ?:The end of neo-liberalism?, by Joseph E. Stiglitz, Commentary, Project Syndicate: The world has not been kind to neo-liberalism, that grab-bag of ideas based on the fundamentalist notion that markets are self-correcting, allocate resources efficiently, and serve the public interest well. It was this market fundamentalism that underlay Thatcherism, Reaganomics, and the so-called Washington Consensus in favor of privatization, liberalization, and independent central banks focusing single-mindedly on inflation. For...

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economy , housing , inflation , oil