Back in 1989, a few months before the Berlin Wall came down, economist John Williamson outlined what he thought was an agreed upon formula for economic growth in developing countries. Williamson, a soft-spoken English academic, presented ten principles, policy reforms intended to boost living standards in what was still called the third world.  They were: •Fiscal discipline •Pro-growth public spending •Tax reform •Liberalizing interest rates •A competitive exchange … Continue reading Updating the Washington Consensus