The death of the father of austerity in Brazil and Latin America

In the small world of economists, the image of John Williamson is undeniably relevant Consensus Washington , His reference work published in the late 1980s. The consensus is that Latin America has a battery of legacy measures to help it face the (many) crises of the time. One of the Ten Commandments, recommended by the International Monetary Fund, is headquartered in Washington, DC.

Edmer Bacha, one of the fathers of the Real program that helped Brazil emerge from the dream of hyperinflation, pays a strong tribute to him in the passages of the daily “Heroic Economico”. It recalls the involvement of the Latin American company John Williamson. For personal reasons, first. It was at the International Monetary Fund that he met Brazilian economist Denis Rosemary Roche. The couple moved to Rio de Janeiro in 1978.

Academically, John Williamson manages, “Portuguese hesitates”, Edmer Bacha mentions, to teach at the Pontifical Catholic University of Rio. Point Pedro Malone, who is also the finance minister, is one of his colleagues. Arminio Fraga, future president of the Brazilian Central Bank, among his students. It was during this period that Edmar Bacha, who now heads the Gaza Das Carias think tank, promises that he will produce. “ Reference Books on International Economics ”.

But Washington’s consensus will be questioned and harshly criticized for continuing social tensions in the region. John Williamson himself would have the humility to reconsider his copy in a collaborative work “After Washington Consensus” According to Edmer Bacha, the British economist is not really worthy of its brand “New Liberal”.