The term ‘The Washington Consensus’ was coined by -

Correct option is D

The term "Washington Consensus" was coined by economist John Williamson in 1989. It refers to a set of economic policy prescriptions that were advocated by institutions such as the International Monetary Fund (IMF), the World Bank, and the U.S. Treasury, primarily aimed at Latin American countries facing economic crises. These policies included fiscal discipline, market liberalization, and the promotion of free trade.

Information Booster :

John Williamson coined the term to describe a set of economic reforms that were viewed as essential for economic growth and development in the 1980s. The reforms emphasized liberalizing trade, reducing government intervention, and encouraging foreign investment.

Milton Friedman, though associated with many ideas regarding market liberalization, was not the one to coin the term Washington Consensus, although he strongly supported free-market policies.

Hannah Arendt and Max Weber are well-known thinkers in political theory and sociology, respectively, but neither were involved in the development of economic policies like the Washington Consensus.

Additional Information :

John Williamson: A prominent economist known for developing the concept of the Washington Consensus, which emphasized neoliberal economic reforms.

Milton Friedman: A key advocate of free-market capitalism, his ideas contributed to the Washington Consensus, but he was not the one to coin the term.

Hannah Arendt: Known for her work in political theory, particularly on totalitarianism and the nature of power, not directly related to economic policies.

Max Weber: A sociologist who contributed significantly to the understanding of bureaucracy and authority, but his work did not intersect with the Washington Consensus.