London Consensus.

Format:

Book

Contributor:

Besley, Tim, editor.

Bucelli, Irene, editor.

Velasco, Andrés, editor.

Language:

English

Subjects (All):

Economics--Textbooks.

Economics.

Social sciences--Textbooks.

Social sciences.

Physical Description:

1 online resource

Place of Publication:

London, England LSE Press 2025.

Language Note:

In English.

Summary:

A generation ago, the so-called Washington Consensus laid out a series of dos and don'ts for policymakers around the world. Today, that vision is recognised as having fallen short in a number of ways - particularly in its neglect of the social and institutional factors that are indispensable for achieving sustained growth and for building fairer and more cohesive societies. The immense challenges humanity faces are easy to list: climate change, pandemics, social inequalities, the far-reaching effects of the tech revolution and AI, a fragmenting world economy, and a wave of populism and political polarisation that has undermined support for liberal democracy in many countries. It is much harder to identify a set of new ideas - and policies - that will solve these seemingly intractable global problems. In this new world, political leaders and policymakers need guidance and principles that can assist when choosing among policy alternatives. To this end, the editors of this volume convened over 50 of the world's leading economists and policy experts at the London School of Economics and Political Science (LSE). The London Consensus: Economic Principles for the 21st Century is the result of these exchanges. It is not intended as a one-size-fits-all set of economic remedies, but an exercise in assembling the best available evidence and ideas to foster dialogue, and ultimately to develop a set of principles that can address the urgent political, social and economic tasks ahead.

Contents:

Preface

Towards a London Economic Consensus: an introduction

Part I: Innovation and Productivity

Fostering green and inclusive productivity growth

On productivism

Part II: Trade

International trade since the Washington Consensus: the gains and the pains

Export-led growth

Part III: Macroeconomic Policy

Fiscal policy and public debt

Monetary and financial policies

Part IV: Labour Market

Labour markets and the future of work

Labour markets and gender inequality

Part V: Cohesion, Equity and Social Policy

Is there a 'new consensus' on inequality?

Welfare state

Addressing the learning crisis: an emergent consensus

Towards resilient and sustainable universal healthcare coverage

Part VI: Environment and Climate Change

Climate and environment: what we know and what we need to know

Tackling climate change in low- and middle-income countries

Part VII: Political Economy and State Capacity

From liberal economic policies to liberal political institutions? Democracy, development clusters and wellbeing

State capacity

Notes:

Description based on print resource