The Post-Covid Consensus Abstract
29 September 2023
(2022); World Bank (2022) “The origins of the 1980s Debt Crisis can be traced back to the acute shocks to the international monetary system in the 1970s: the collapse of the Bretton Wood system; the major oil prices hikes; and the substantial liberalization of international finance. [...] Codification of the export-led model was initiated by The East Asian Miracle, a publication of the World Bank issued in 1993 that highlighted the market conforming features of the model and soft pedaled the dirigisme (Rodrik 1994). [...] The use of computers, of mobile telephony, and access to the Internet have all increased dramatically since the turn of the century and there is no doubting the scale of the technological change.15 Even the least developed countries have benefitted. [...] But after an all too brief spurt from the mid 1990s through the mid 2000s, which was largely the 12 The Ten Theses of the WC were presented at a conference and not posted on the door of the Washington National Cathedral. [...] Policies must accommodate the role of services and take account of an agricultural sector that overlaps with both manufacturing and services.32 We can see developmental policymaking circling back to the maxims of the 1960s, enlarging the sectoral scope of policy and in the process merging industrial with technology policy.33 But this turning back to the future has retained some if not all the poli.