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A post-crisis understanding of state capitalism

Has the Washington Consensus failed? Lalita Som's book explores this debate from the prism of case studies of eight countries, including the BRICS

State Capitalism: Why SOEs Matter and the Challenges They Face
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State Capitalism: Why SOEs Matter and the Challenges They Face

Ishaan Gera
State Capitalism: Why SOEs Matter and the Challenges They Face
Author: Lalita Som
Publisher:  Oxford University Press
Pages: 356
Price: Rs 1,695

In her book, State Capitalism: Why SOEs Matter and the Challenges They Face, Lalita Som starts with the premise that the Washington Consensus — which refers to the standard reform package for crisis-hit economies developed by Washington D C-based institutions such as the World Bank, IMF and the US Treasury Department — has failed. She highlights how the Consensus did not find many takers after the global financial crisis of 2008, whereas China’s state-supported capitalism has won admirers.

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First Published: Sep 27 2022 | 10:24 PM IST

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