e – when the private sector has neither the desire nor the ability to induce investment to create employment, the only actor with the necessary means and will to do so is the government.
             This may be quite clearly contrasted with the neo-liberal economic theory. The neo-liberal "policy revolution" may be said to have begun with the ouster in Chile of Salvador Allende by Augusto Pinochet . Allende had implemented largely social-democratic economic policies in Chile, and following the coup d'etat in 1973, Pinochet instituted what may be considered neo-liberal reforms. In was not however, until the 1980s when these policies were widely accepted, following the 'Washington Consensus' . The Washington Consensus is somewhat of a misnomer, as it was not a consensus at all. Rather, leaders of the developed world, such as Ronald Reagan and Margaret Thatcher (inspired by economists like Firedrich von Hayek and Milton Friedman) demanded that countries curtail government intervention, privatize state holdings and allow markets to govern economic transactions . Policies created with this agenda in mind were religiously implemented across South America throughout 1980s .
             Mieke Meurs contends that the neo-liberal policy promoted by the Washington Consensus can be analysed in terms of three ideological and theoretical propositions . S
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