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August 08, 2002

Krugman Recants Neoliberalism?

In his column, Paul Krugman surveys the rising Left in Latin America and admits that he was part of the free market triumphalist problem in the 90s:

Why hasn't reform worked as promised? That's a difficult and disturbing question. I, too, bought into much though not all of the Washington consensus; but now it's time, as Berkeley's Brad DeLong puts it, to mark my beliefs to market. And my confidence that we've been giving good advice is way down. One has to sympathize with Latin political leaders who want to temper enthusiasm for free markets with more efforts to protect workers and the poor.
Next thing you know, Tom Friendman will be partying with the Ruckus Society in the streets at the coming IMF meeting.

Posted by Nathan at August 8, 2002 11:03 PM

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