The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus: " the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the...
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Business Business & Investing Economics Political Science Politics & Social Sciences