But what comes next is very much up in the air.
For communities around the world, especially in the Global South, it has been clear for decades that the neoliberal “Washington Consensus”, which emerged in the 1980s and focused on deregulation, privatization, austerity and trade liberalisation, is a violent and destructive Was a model.
For communities around the world, especially in the Global South, it has been clear for decades that the neoliberal “Washington Consensus”, which emerged in the 1980s and focused on deregulation, privatization, austerity and trade liberalisation, is a violent and destructive Was a model.
The unfairness of this system was the message of the global justice movement, which in the late 1990s and early 2000s opposed global post-controlled economic institutions such as the World Trade Organisation, the World Bank and the International Monetary Fund. The same idea has since driven several waves of global protests, including Occupy Wall Street. The system of neoliberalism inspired resentment for corruption, unresponsive government, environmental destruction, and the self-dealing of the elite – creating safety nets for the wealthy and enforcing market discipline for everyone else.