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IMF economists question faith in neoliberal doctrine

Leftists have long made a sport of blasting neoliberalism, the market-guided economic doctrine championed by the International Monetary Fund, as boosting poverty and inequality. A new assessment from Fund economists suggests the neoliberal approach to creating sustainable growth in developing countries can have its own lasting ill effects. The authors, three members of the IMF research department, said the traditional approach to helping countries build their economies through tight government spending, privatization, freer trade and open capital flows can have “prominent” costs in terms of greater inequality.

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