Which combination of principles does the Washington Consensus advocate for?

The Washington Consensus advocates for a specific set of economic principles aimed at promoting market-oriented reforms and stabilizing economies, particularly in developing countries. The principles included in the Washington Consensus are centered on trade liberalization, privatization of state-owned enterprises, and fiscal discipline to maintain balanced budgets and reduce public deficits.

Trade liberalization encourages countries to open their markets to international trade, facilitating competition and access to a wider range of goods and services. Privatization involves transferring ownership of public enterprises to the private sector, which is believed to enhance efficiency and spur economic growth. Fiscal discipline focuses on maintaining a stable macroeconomic environment, which is essential for fostering investment and sustainable development.

This combination of policies is designed to stimulate economic growth, improve efficiency, and integrate developing countries into the global economy. The other options presented represent different economic approaches that do not align with the foundational principles of the Washington Consensus. For example, state control and protectionism suggest a more interventionist role for the government, while the focus on social justice and wealth redistribution does not emphasize market mechanisms that the Washington Consensus promotes.