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Neo-liberal economists have claimed that globalization creates worldwide economic growth, and that laissez faire liberalization leads to development, but has history proved them right? Now that the dust has settled, it is clear that since the 1980s unfettered capitalism has not necessarily led to economic growth. Development Economics is experiencing a 'post-Washington Consensus' resurgence, led by the academics collected here, who can now provide rigorous analyses of how liberalization really affects inequality, poverty, and economic development based on over two decades of empirical data. Avoiding the polemics and rhetoric often associated with post-war development economics, they provide a balanced account of the policies that have worked, the true effects of globalization, and the comparative experiences of countries that either followed or ignored IMF and World Bank advice.