Political economy has come a long way. Many figures and institutions that have long embraced neoliberalism increasingly recognise the failures of markets and acknowledge that states may have a role to play in improving socioeconomic outcomes. Even the International Monetary Fund (IMF) now discusses the “macro-criticality” of social protection, the need for progressive taxation, and, potentially, universal transfers.
Political economy has come a long way. Many figures and institutions that have long embraced neoliberalism increasingly recognise the failures of markets and acknowledge that states may have a role to play in improving socioeconomic outcomes. Even the International Monetary Fund (IMF) now discusses the “macro-criticality” of social protection, the need for progressive taxation, and, potentially, universal transfers.
