Francis Fukuyama discusses the Post-Washington Consensus

The American version of capitalism is no longer dominant around the world, writes FSI's Francis Fukuyama, the Olivier Nomellini Senior Fellow resident at the Center on Democracy, Development, and the Rule of Law, and Nancy Birdsall, President of the Center for Global Development, in the March/April issue of Foreign Affairs. In the next decade, they say, developing countries are likely to continue to trade the flexibility and efficiency associated with the free-market model for domestic policies meant to ensure greater resilience in the face of competitive pressures and global economic trauma.