Economic Perspectives on Recommunalization in the Energy Sector
The consequences and legacy of the Washington Consensus
When privatization and deregulation of public infrastructure services became the dominant paradigm of public policy in the 1980s and 1990s, it was considered an adequate measure to increase efficiency, enable consumer choice, and foster a cultural change towards more competitive practices among the management of utilities. In industrialized countries, governments influenced by the Chicago school of economics questioned public ownership and monopolies. In the developing world, institutions such as the International Monetary Fund (IMF) and the World Bank often linked the approval of new credit lines for countries to austerity measures, privatization of public enterprises, and financial liberalization – a practice often labelled as conditionality.… Seguir leyendo »