Which statement aligns with the Washington Consensus?

Which statement aligns with the Washington Consensus?

• A. Economic isolationism
• B. Political competition is a right; rule of law; human rights are sacred
• C. Codified legal system
• D. One party system

Answer: (B)

The main idea is how economic policy frameworks rely on certain political and institutional conditions. The Washington Consensus emphasizes open markets, liberalization, privatization, and strong, predictable rules that make markets work. For those reforms to be credible and effective, they need a political environment that supports competition, the rule of law, and respect for human rights—sounds like a political system where competition, legal frameworks, and fundamental rights are protected and promoted. So the statement that political competition is a right; rule of law; human rights are sacred aligns with that environment because it describes the kind of stable, rights-respecting institutions that lend credibility to market reforms, protect property and contracts, and reduce political risk. In contrast, economic isolationism rejects openness; a codified legal system alone doesn’t address political and rights protections; a one-party system undermines political competition.

The main idea is how economic policy frameworks rely on certain political and institutional conditions. The Washington Consensus emphasizes open markets, liberalization, privatization, and strong, predictable rules that make markets work. For those reforms to be credible and effective, they need a political environment that supports competition, the rule of law, and respect for human rights—sounds like a political system where competition, legal frameworks, and fundamental rights are protected and promoted.

So the statement that political competition is a right; rule of law; human rights are sacred aligns with that environment because it describes the kind of stable, rights-respecting institutions that lend credibility to market reforms, protect property and contracts, and reduce political risk. In contrast, economic isolationism rejects openness; a codified legal system alone doesn’t address political and rights protections; a one-party system undermines political competition.