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- This past week, the IMF, in their quarterly magazine Finance and Development, published an essay with the rather surprising title “Neoliberalism: Oversold?” Written by IMF economists, the piece is meant to be a critique of the neoliberal agenda, an agenda that’s been pushed, almost relentlessly, by the IMF, World Bank and other allied institutions over the last couple of decades.
Should we believe this attempt at a mea culpa and what exactly is the IMF saying sorry for?
(1) To begin with, the IMF’s not saying sorry for the entire package of neoliberal reforms. They think that some (read: most) of the reforms have actually been a godsend: