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<nettime> Changing winds?
Prem Chandavarkar on Mon, 8 Aug 2016 15:27:52 +0200 (CEST)


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<nettime> Changing winds?


   Till recently neoliberalism was treated as a gospel that should not be
   questioned.  But now, some of the institutions that had championed
   neoliberalism are beginning to question it.

   The IMF has raised questions about how neoliberalism increases
   inequality, which in turn causes fragility in economic growth.

   See the following two IMF papers

   Ostry, Loungani and Furceri, "Neoliberalism: Oversold?"

   http://www.imf.org/external/pubs/ft/fandd/2016/06/ostry.htm

   or

   Ostry, Berg, Charalambos, "Redistribution, Inequality and Growth"

   https://www.imf.org/external/pubs/ft/sdn/2014/sdn1402.pdf

   Or a research project by McKinsey Global Institute that shows that in
   the advanced economies the percentage of households with flat or
   falling incomes has increased from 2 percent in the early 21st century
   to over 60% by 2015

   http://www.mckinsey.com/global-themes/employment-and-growth/income-inequality-why-so-many-households-are-not-advancing

   If institutions such as the IMF and McKinsey are articulating such
   views, are the winds beginning to shift?

   Prem

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