American Quote by Stephen Kinzer
“During the 1990s the United States sought to impose the 'Washington Consensus' on Latin American governments. It embodied what Latin Americans call 'neo-liberal' principles: budget cuts, privatization, deregulation of business, and incentives for foreign companies. This campaign sparked bitter resistance and ultimately collapsed.”
About This Quote
Source Article: The Washington Consensus in Latin America, 1990s, The New York Times, 2000
The Washington Consensus imposed neoliberal reforms on Latin America, leading to resistance and eventual failure.
In simple terms: Neoliberal policies were forced on Latin America and collapsed.
Key Takeaway
Question imposed economic reforms.
Themes
economics
politics
Latin America
neoliberalism
Mood
critical
reflective
Type
historical
economic
When to use this quote
- government planning
- foreign investment
- social movements
Key Concepts
policy
reform
resistance
Questions to Reflect On
- Why did neoliberal policies fail in Latin America?
- What alternatives could have been pursued?
A Different Perspective
The reforms ignored local contexts and social impacts.
![“A real gold standard is thoroughly consistent with [classical] liberal principles and I, for one, am entirely in favor of measures promoting its development.” quote by Milton Friedman](https://sms4smile.com/quotes/img-quotes/1b3/milton-friedman-616_consistent_a-real-gold-standard-is-thoroughly-consi_2005654.jpg)
