"I think we are recognizing that the Washington consensus on economic policy is over - that the old world has gone, that we have got to build a new consensus on economic development for the future,".
VOA: standard.2009.03.25
Rightly or wrongly, voters blamed the slowdown on the free-market reforms known as theWashingtonconsensus.
He rejected the economic reductionism that drove theWashingtonconsensus, and insisted instead on seeing people as products of culture rather than as profit-and-loss calculating machines.
Mr Stiglitz's tirade has struck a chord with many opposed to what became known as theWashingtonconsensus and with many who, unlike Mr Stiglitz, see globalisation as a negative, destructive force.