Geography Reference
In-Depth Information
Conclusions: No Alternative to
Neoliberalism in Sight, As Yet?
The alternative theories of development, which stress humanistic
objectives and people-centred approaches (see Chapter 2.2), often
underpinned the academic and intellectual challenges outlined in this
chapter. Here, the conventional, neoliberal economic theories and
models favoured by powerful international financial institutions - such
as the World Bank and the International Monetary Fund specifically,
and by the Washington Consensus more broadly - have been found to
be disappointing at best, and destructive and harmful more often
than not.
Despite their adoption in UN circles, among civil society and in
anti-globalization rhetoric and activism, neither academic nor humani-
tarian institutional arguments have significantly altered global institu-
tional policies and practices, which continue to favour neoliberal
capitalist solutions in their 'development portfolios' to this day. But
despite such apparent ineffectiveness in the powers of persuasion by
these social critics 'from below', the record of achievements by the
Washington Consensus and neoliberal agencies pale into insignificance
compared to the harmfulness and destructiveness of their economic
programmes - programmes that have been offered in the name of
'development'.
The macroeconomic programmes offered by the Washington
Consensus need to be reconsidered, as Serra and Stiglitz (2008) advo-
cate. The World Social Forum has fairer solutions for the world's major-
ity than global businesses' World Economic Forum. Fortunately, there
are signs that the United Nations is no longer an irrelevant and weak
global institution, when it comes to helping to develop and direct devel-
opment programmes for the world's needy and helpless.
100
key
points
•
The United Nations was never able directly to involve itself in the
operationalization of development programmes in the global South,
although humanitarian 'calls to arms' and support of global health,
education and welfare programmes have been achieved more
recently.
