Thinks 122

Economist obit on John Williamson, who defined the “Washington Consensus”: “The paper sought to capture what Washington’s intelligentsia agreed were broadly sensible policies. There were ten planks, which Mr Williamson later summarised as encompassing “macroeconomic discipline, a market economy, and openness to the world”. Wild-eyed radicalism it was not; the list was intended after all to reflect only the policies that almost everyone in Washington thought wise. Mr Williamson did not endorse knee-jerk austerity; he emphasised redirecting industrial subsidies towards education and health. Exchange rates should be competitive, but not necessarily freely floating. Openness meant acceptance of imports and direct investment, but not full capital mobility. Deregulation meant liberating sheltered sectors, not gutting environmental and labour standards. It was more a practical guide to avoiding disaster than a manifesto.” More from Bloomberg and NYT.

Feeding Hate With Video: A Former Alt-Right YouTuber Explains His Methods: NYTimes. “Focus on conflict. Feed the algorithm. Make sure whatever you produce reinforces a narrative. Don’t worry if it is true.”

Watched: Mandela (Tamil movie on Netflix), a political satire

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Rajesh Jain

An Entrepreneur based in Mumbai, India.