1. Washington Consensus Plus. Basically, these are the same old market reforms that have been promoted by the IMF and World Bank all these years, only with an extra side helping of institutional and legal reforms. So, for example, the IMF now argues that countries need to develop "financial infrastructure" before they start liberalizing their capital inflows.Now, I would've guessed that station #4 was the leftmost stop on this train, but, no, Bello argues, the problem with that view is that "global social democracy" is just plain incompatible with the "rapid integration of markets and production." Or at least it might be. He doesn't really offer any evidence on this score.
2. Neoconservative Neoliberalism. This is the murkiest category, but Bello calls this "essentially the development policy of the Bush administration." This approach mainly seems to involve bilateral debt relief and short-term grants that are conditional on certain free-market reforms. The Millennium Challenge Account is the most obvious example.
3. Neostructuralism. This appears to be the direction countries like Brazil and Chile are heading, in which economic growth and progressive policies are supposed to go hand in hand. So you have market reforms and liberalization, but also income transfers and spending on health, education, and housing to ease the pain—without going too far left, ala Hugo Chavez. "Neostructuralism," says Bello, "does not fundamentally reverse but simply mitigates the poverty and inequality-creating core neoliberal policies."
4. Global Social Democracy. This is the approach that people like Jeffrey Sachs and Joseph Stiglitz now seem to favor, which, Bello argues, often "places equity above growth." Advocates of this view are skeptical of trade liberalization and frequently "demand fundamental changes in the institutions and rules of global governance such as the IMF, WTO, and the Trade Related Intellectual Property Rights Agreements."