Amazing things happening.
Jonathan D. Ostry, Prakash Loungani, and Davide Furceri of IMF revisit neoliberalism approach to economics and say it is oversold. IMF was perhaps one of the most fervent guardians of this neoliberalism approach to economics and now seems to question this very zeal. One component of this approach was capital account liberalisation where IMF religiously said abolish all capital controls. Now it thinks capital controls could be used. This was hailed as one big turnaround in thinking.
So in this note the authors talk about the same capital account and add another part of this approach- fiscal prudence:
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Utopia, you are standing in it! 
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