Transitional Heresies of a Devil’s Advocate

In this paper, I am publishing for the first time the author’s devil’s advocacy document when I was Senior Advisor to the Chief Economist of the World Bank, Joseph Stiglitz. The paper argued against the Bank’s general shock therapy and voucher privatization policies and the paper was the basis for Stiglitz’s Whither Reform speech (2001) that was itself some “shock therapy” for the Washington Consensus.

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