Political History Commons^™

The Washington Consensus: Conceptions Of Power And Failure In Argentina, Samaira G. Wilson

Senior Projects Fall 2022

By holding great economic power over smaller states and justifying it by saying they are helping modernize them, the U.S. leaves many countries cleaning up a mess they helped make. The Washington Consensus failed systematically largely because of its failure to understand development in developing countries. The objective of these policies were to increase GDP in Argentina, yet economic growth favored the wealthy which led to more poverty, inequality and unemployment. The responsibility to promote democratic and equitable development, as well as sustained increases in living standards, was completely neglected. Why did U.S. policy fail to deliver on its goals? …