Advanced-Country Politicians: World Sweeps and Policy Approach

advanced-country politicians: This trend must be reversed, before it structurally cripples the advanced world and sweeps up the emerging economies, too, according to Market Watch. Obviously, political infighting is nothing new. Advanced-country politicians are locked in bizarre, often toxic, conflicts, instead of acting on a growing economic consensus about how to escape a protracted period of low and unequal growth. But, until recently, the expectation was that if professional economists achieved a technocratic consensus on a given policy approach, political leaders would listen. The risk is that, as bad politics crowds out good economics, popular anger and frustration will rise, making politics even more toxic. Even when more radical political parties attempted to push a different agenda, powerful forces — whether moral suasion from G7 governments, private capital markets, or the conditionality attached to International Monetary Fund and World Bank lending — would almost always ensure that the consensus approach eventually won the day. (news.financializer.com). As reported in the news.