<Power and Politics in Today's World> Yale Open Course lecture notes
The postwar era was a time of reconstruction and reconfiguration, a reordering of the international order. International institutions aimed at equalizing the balance of power were founded in this period, such as the UN, NATO, and the EU, with their membership growing over the years. Amidst this increasing interdependence of the international community, an economic restructuring program loosely known as the Washington Consensus began to be deployed in developing countries. The US and international financial institutions such as the IMF and the World Bank led this imperialistic economic venture which was characterized by measures of deregulation, privatization, free trade, and austerity under the one-size-fits-all approach.
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