African Countries Should Control Their Economic Destiny And Not Mortgage It To Washington

"This Legislative Alert argues that neo-liberal “Washington Consensus (WC)” policies prescribed by the Bretton Woods Institutions (BWIs) to African countries receiving their financial assistance that favor free markets and private enterprise over systems characterized by economic controls and “statism” come with costs and do not always deliver maximum economic and social welfare. For these reasons, African countries should not swallow these policies “ hook, line and sinker” but should intervene directly in their economies to mitigate the associated market failings and socio-economic costs"