In 1989, the British economist John Williamson christened what was to become the defining intellectual export of the era of globalisation: the Washington Consensus. Initially a reference to the policies adopted to tackle macroeconomic turmoil in Latin America, the term quickly morphed into a canonical
Opening markets leads to prosperity because open markets allow forcompetition, which is the only method by which the daily activityof millions of people can be coordinated without coercion.