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Using the phrase "Washington Consensus" just indicates you're out of touch and it makes it hard to take any argument you make seriously. The Washington Consens

Using the phrase "Washington Consensus" just indicates you're out of touch and it makes it hard to take any argument you make seriously. The Washington Consensus was on life support by the year 2002 -- that's two decades ago -- and was completely dead by 2008 -- well over a decade ago. Making strawman arguments against things 15 years out of date doesn't make your argument look stronger.

neilwilson 6y ago
"Using the phrase "Washington Consensus" just indicates you're out of touch and it makes it hard to take any argument you make seriously" Yet that is still how central banks operate. They are completely out of date, continuing to target inflation using interest rate movements and getting absolutely nowhere. In fact largely getting the opposite response. Everybody knows that they are making no impact, yet nobody dare point it out out of politeness. However this emperor definitely has not clothes at this stage. The central banks haven't moved on because their operational mode is still stuck in the 1990s. Eventually one will change tack - as New Zealand did before. Hope that is a Western one, not Erdogan.
imtringued 6y ago
Turkey is still weak economically, it has untapped investment opportunities. The USA is extremely strong, at this point the majority of investments have been tapped and we must manufacture artificial investments (infrastructure bill) just to keep macroscopic balance (savings = investments). What Turkey needs is more foreign investment (plus the trust of its citizens) and that requires eliminating corruption.
pydry 6y ago
What?? Since when did trade liberalization and legal security for property rights die? Did the world Bank suddenly tell us these things didnt matter after all? Or, is this a variant of the weird perpetual claim made by dyed-in-the-wool neoliberals that they actually don't exist and never did?

neilwilson 6y ago

"Using the phrase "Washington Consensus" just indicates you're out of touch and it makes it hard to take any argument you make seriously" Yet that is still how central banks operate. They are completely out of date, continuing to target inflation using interest rate movements and getting absolutely nowhere. In fact largely getting the opposite response. Everybody knows that they are making no impact, yet nobody dare point it out out of politeness. However this emperor definitely has not clothes at this stage. The central banks haven't moved on because their operational mode is still stuck in the 1990s. Eventually one will change tack - as New Zealand did before. Hope that is a Western one, not Erdogan.

imtringued 6y ago

Turkey is still weak economically, it has untapped investment opportunities. The USA is extremely strong, at this point the majority of investments have been tapped and we must manufacture artificial investments (infrastructure bill) just to keep macroscopic balance (savings = investments). What Turkey needs is more foreign investment (plus the trust of its citizens) and that requires eliminating corruption.

pydry 6y ago

What?? Since when did trade liberalization and legal security for property rights die? Did the world Bank suddenly tell us these things didnt matter after all? Or, is this a variant of the weird perpetual claim made by dyed-in-the-wool neoliberals that they actually don't exist and never did?