IMF remains on neoliberal course
Is austerity a ‘dream come true’ for neoliberals, or did the global financial crisis force policymakers to question neoliberalism’s core principles and change direction? It is now over ten years since the collapse of Lehman Brothers paved the way for the biggest, most global, and most significant financial crisis in living memory. It brought the global capitalist economy to its knees, it shook belief and faith in the capitalist system itself, and raised serious doubts about neoliberalism.
The hope that the crisis would give rise to a more progressive capitalism, however, proved to be premature.