Defenders of the Golden Straitjacket policies argue that poor nations are free to reject such policies as, among others, making the private sector the engine of economic growth, eliminating and lowering tariffs on imported goods, getting rid of quotas and domestic monopolies, opening industries, stock, and bond markets to direct foreign ownership and investment, but that the poor nations cannot reasonably expect economic prosperity to follow from alternative policies.

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The Golden Straitjacket refers to a set of economic policies focused on liberalization, privatization, and open markets. Defenders argue that while nations can reject these policies, doing so would likely hinder their prospects for economic prosperity, as these policies are seen as pathways to integrate into the global economy and stimulate growth.

Defenders of the Golden Straitjacket Policies Argue That Poor Nations