Problems with ISI were emerging at the same times that economists and policy makers in the West were shifting from neoliberal to Keynesian ideas and becoming increasing supportive of the ability of governments to manage the market.

Question

Quizplus · Accepted Answer

The shift was from Keynesian to neoliberal ideas, not the other way around. Economists and policymakers were moving towards neoliberalism, emphasizing market efficiency and reduced government intervention in the economy, during the period when problems with Import Substitution Industrialization (ISI) were becoming apparent.

Problems with ISI Were Emerging at the Same Times That