Wrong all along: Neoliberal IMF admits neoliberalism fuels inequality and hurts growth
Top International Monetary Fund researchers concede austerity,
privatization & deregulation can hurt more than help… .In analyzing two of neoliberalism’s most fundamental policies,
austerity and the removing of restrictions on the movement of capital,
the IMF researchers say they reached “three disquieting conclusions.”One, neoliberal policies result in “little benefit in growth.”Two,
neoliberal policies increase inequality, which produces further
economic harms in a “trade-off” between growth and inequality.And three, this “increased inequality in turn hurts the level and sustainability of growth.” …The importance of this study is hard to overstate. The IMF is
essentially admitted that many of the policies that it demanded
countries implement for decades only made things worse.