The Buenos Aires Consensus replaces the Washington Consensus

Madrid

Updated:02/03/2021 08:28h

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Economic policy in the main countries of the world is experiencing a paradigm shift: we are moving from the so-called Washington Consensus that settled in the 1980s in what some authors now call the Consensus of Buenos Aires, making use of Argentina for no other reason but because of its insistent economic populism, to which even advanced countries now seem to be heading. We swapped an era of “laissez faire” for another of a certain dirigisme.

Nothing more symbolic in this turn than the public spending recommendation made in this Covid-19 pandemic crisis by the International Monetary Fund, breaking with spending control policies that had their last great defense during the crisis