Andrés Velasco on How Latin America Can Reboot Its Economic Rules

Thirty-five years after the Washington Consensus, a group of the world’s leading economists have assembled a new book formulating an alternative road map for developing economies, The London Consensus: Economic Principles for the 21st Century. One of the books co-editors, prominent Chilean economist Andrés Velasco, recently stopped by the New York headquarters of Americas Society/Council of the Americas to present core principles to guide refreshed and adaptable economic policies in Latin America and beyond.

In conversation with AS/COA President and CEO Susan Segal, the former finance minister of Chile and current dean of the School of Public Policy at the London School of Economics and Political Science emphasized the need for greater attention to delivering well-being for all and boosting state capacity to complement private-sector efforts. Given the diversity of today’s challenges—from climate change, to AI and the future of work, to trade fragmentation and political polarization—Velasco called for economists and policymakers to be more like medical doctors: assessing symptoms before handing out prescriptions.

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