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Business-Managed Democracy

“Business-managed democracies are those in which the political and cultural arrangements are managed in the interests of business”

Sharon Beder

Business-Managed Government

Financial Markets

Financial marketWhilst the IMF and the World Bank have played a large role in enforcing the Washington Consensus on poorer countries in desperate need of capital, other more affluent countries have also been forced into adopting the same formula by the world’s financial markets. Their vulnerability to these markets has been facilitated by financial deregulation.


Financial deregulation involves three actions: the opening up of a nation to the free flow of capital in and out of it; the removal of regulations on financial institutions operating within a country; and the removal of political controls from the central bank. In this way the financial sector of a nation becomes part of the international financial sector rather than a part of the domestic economy and it serves the interests of global financial institutions rather than the interests of the local people or national governments.