Washington consensus-style capitalism / Reaganite neoliberalism was not good for most countries. A good example is how the Russian economy responded to excessiv

Washington consensus-style capitalism / Reaganite neoliberalism was not good for most countries. A good example is how the Russian economy responded to excessive privatisation instead of building a strong public sector that builds and supports private enterprise (similar to the US, although neoliberal scholars don’t like admitting it). The track record is the same in a lot of Latin-American countries where IMF and WTO imposed similar doctrines. I’m mostly for free markets etc, but it wasn’t appropriate to expect countries such as Poland with a “plastic” economy (political economy as the communist like labelling it) to succeed with a neoliberal anti-government “libertarianism” ideology overnight. It just doesn’t work that way. Stiglitz even wrote a book on the topic.