Now that the COVID-19 pandemic has highlighted the deficiencies of economic deregulation and market liberalization, a new policymaking paradigm is emerging. But its success depends on concrete reforms and the creation of new mission-driven institutions.
LONDON – The Washington Consensus is on its way out. In a report released this week, the G7 Economic Resilience Panel (where I represent Italy) demands a radically different relationship between the public and private sectors to create a sustainable, equitable, and resilient economy. When G20 leaders gather on October 30-31 to discuss how to “overcome the great challenges of today” – including the pandemic, climate change, rising inequality, and economic fragility – they must avoid falling back on the outdated assumptions that landed us in our current mess.
LONDON – The Washington Consensus is on its way out. In a report released this week, the G7 Economic Resilience Panel (where I represent Italy) demands a radically different relationship between the public and private sectors to create a sustainable, equitable, and resilient economy. When G20 leaders gather on October 30-31 to discuss how to “overcome the great challenges of today” – including the pandemic, climate change, rising inequality, and economic fragility – they must avoid falling back on the outdated assumptions that landed us in our current mess.