Political Science Essay Example | Topics and Well Written Essays - 1000 words

Political Science - Essay Example The policies which are given as recommendations seem to be quite useable for those who defend the consensus since they call it necessary for progress. Supporters of the Washington Consensus say that following these recommendations can only lead to greater economic independence for debt laden countries and it is a path which leads to the development of the industrial and services sector. However, those who oppose the policies say that the Washington Consensus is merely a method for America and other developed nations to enter new markets and exploit their resources (Williamson, 2000). Both sides have been quite vocal about their feelings and each highlights the successes and the failures of the consensus. The supporters of the Washington Consensus say that many people misunderstand the recommendations since they are not universally applicable to all nations at all times. Instead of looking at the consensus as forced neo-liberal policies, the policies should be seen as recommendations coming from those who have achieved economic development to those who have yet to achieve it (Harvard University, 2003). On the other hand, those who oppose the policies recommended by the Washington bodies say that the policies are mandated in connected to grants and aid money. Even when the policies have been implemented, they often lead to the country running into a economic crisis which brings more misery for the people than economic development (Harvard University, 2003). Clearly, the difference of opinion warrants a deeper understanding of the policies themselves since they appear to be quite controversial. The primary policies under the Washington Consensus have been outlined by Williamson (2000) as the implementation of monetary discipline in terms of free trade and public expenditure and investments in projects that give economic returns to the people. The alleviation of poverty and