Explanation:

Cornwall Consensus :

• The Cornwall Consensus is aimed at inverting the imperatives of the Washington Consensus which minimized the state’s role in the economy and pushed an aggressive free-market agenda of deregulation, privatisation, and trade liberalization.
• By revitalizing the state’s economic role, it would allow us to pursue societal goals, build international solidarity, and reform global governance in the interest of the common good.
• This means that grants and investments from state and multilateral organisations would require recipients to pursue rapid Decarbonisation (rather than rapid market liberalization, as required by IMF lending for structural adjustment programmes). It means that governments would pivot from repairing — intervening only after the damage is done — to preparing: Taking steps in advance to protect us from future risks and shocks.
• The Cornwall Consensus also would have us move from reactively fi xing market failures to proactively shaping and making the kinds of markets we need to nurture in a green economy. It would have us replace redistribution with pre-distribution. The state would coordinate mission-oriented public-private partnerships aimed at creating a resilient, sustainable, and equitable economy.