NUTR 214 Lecture Notes - Lecture 13: Chicago Boys, Debt Crisis, Washington Consensus

• School: McGill University
• Department: Nutrition and Dietetics
• Course: NUTR 214
• Professor: Arne Kislenko

Document Summary

Part of neoliberalist economy, promoting form of self-help, no longer providing care to citizens, citizens should help themselves. Important term because under neoliberalist economy reform countries that receive loans will be under certain conditions. Emergence of neoliberal regimes (promotion of free markets) in early 80s. Margaret thatcher in 1979 (uk) = a crucial promoter of free markets. Debt crisis in latin america due to failure of isi (import substitute industrialization) Latin america"s debt crisis forced the state to turn to the international monetary fund (imf) for relief. Conditional loans wherein should the countries meet the conditions, they could get help from imf. Unprecedented power in the imf"s hands = a rapid neoliberal market program. Since this crisis, they have gained a lot of power, with the debtors depending on them. Meant to assist economic situation in post-war europe. Initial issue in late 40s and early 50s were related to economic devastation in europe.