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[...] they insist that the poor do not necessarily get poorer, so that one may express a cautious hope that some of the poor might sometimes become somewhat less poor than they used to be. Indeed, the only remaining moral justification of the current system hangs by that thread: as long as it can…

By emphasizing the problem of debt in the present crisis, then, we can cut across many of the other explanations currently on offer, whether those highlight the hubris of financiers, the folly of borrowers, the irrationality of the institutional structures, or the imbalances rooted in the internati…

we can see how this “structural adjustment” of public finances has played out rather badly in most places where the Washington Consensus was implemented, not least in Washington itself

we can see how this “structural adjustment” of public finances has played out rather badly in most places where the Washington Consensus was implemented, not least in Washington itself