ABSTRACT
This chapter develops and presents recommendations based on Keynes’s ideas and Post Keynesian ideals contrasting the After the Washington Consensus. It dismisses slogans “we already know what must be done” or common phrase there is “no alternative” as inexorably and precariously mistaken. The chapter contributes and determines in systematic way an alternative to current international development policy from Post Keynesian perspective that, to authors knowledge, has not been attempted before. It uses Keynesian economic analysis to refer to original work of Keynes and do not denote modern version of the neoclassical synthesis in the form of New Keynesian economics as sustained by Mankiw and Romer. The chapter discusses Post Keynesianism approach to refer mainly to American or fundamentalist Post Keynesianism. It reveals Post Keynesian alternative to the After the Washington Consensus as a means “to counter the argument that Washington Consensus is effectively the only game in town, critiques need to be supplemented by suggestions for alternative macroeconomics policies”.
