Joseph Stiglitz

Democratic Development as the Fruits of Labor

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Abstract:
The author argues that the Washington consensus is too narrow in its objectives - in its focus on GDP - and in what it sees as the instruments of development, the improvement of resource allocation, through trade liberalization, privatization and stabilization, that development needs to be seen as a transformation of society, a change in mindsets, and that workers and workers' institutions have to be at the center of the development process.

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