Which of the following statements about the Washington Consensus is accurate?
A)In the 1980s it began to encourage countries to increase state power.
B)In the 1980s it began to encourage countries to limit regulation.
C)In the 1980s it began to encourage countries to restrict private industry.
D)The Washington Consensus's new policies in the 1980s led to impressive new growth in many developing countries, restoring its reputation.
E)In the 1980s it began to encourage state governments to relax the rule of law.

Question

Quizplus · Accepted Answer

The Washington Consensus, which refers to a set of economic policies advocated by international financial institutions in the 1980s, encouraged countries to limit regulation and promote free markets. It did not encourage countries to increase state power, restrict private industry, or relax the rule of law. While the policies did lead to growth in some developing countries, their overall impact is a subject of debate.

Which of the Following Statements About the Washington Consensus Is