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Theoretical and Applied Economics
No. 5 / 2012 (570)

The Consensus of Hierarchy

„Post-communist countries have become the success story of the model of hierarchical economic globalization, with the accelerated liberalization and privatization offering, on the one hand, the politically correct explicative formula for the transition and, on the other hand, the path for conformation to the waves propagating from the powerful summit of the global economy.”

    In the past two decades a powerful logical inversion has occurred in the creative algorithm of Economics: the referentials of the explicative framework most often stem from the geostrategic vision of globalization. The most relevant assertions in the world of economic ideas are marked today by hypotheses of political thinking which are specific to the Washington Consensus.

    Economic policy arrangements target values inspired by the theory of free international commerce and reach their peak with the liberalization of the capital account, reacting thus to the advantages of highly developed economies. The immediate consequence of this unexpected inversed economic determinism - with the effect generating the cause - is that the usual economic theory offers adverse solutions to the democratic objectives of economic development. The achievements of transition economies are not found, as it would have been expected, in spreading the effects of wealth, nor in the "forward leap" assumed by the concept of a global world on which the promises of the Washington Consensus are based.

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The Consensus of Hierarchy
Marin Dinu

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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