Stiglitz on the IMF

[Jim Devine <jdevine@xxxxxxxxxxxxxxx>]

Have people seen the article by Stiglitz in the NEW REPUBLIC?

>What I learned at the world economic crisis.

 The Insider

 By JOSEPH STIGLITZ
 Issue date: 04.17.00
 Post date: 04.06.00

 Next week's meeting of the International Monetary Fund will bring
 to Washington, D.C., many of the same demonstrators who trashed
 the World Trade Organization in Seattle last fall. They'll say the
 IMF is arrogant. They'll say the IMF doesn't really listen to the
 developing countries it is supposed to help. They'll say the IMF is
 secretive and insulated from democratic accountability. They'll say
 the IMF's economic "remedies" often make things worse--turning
 slowdowns into recessions and recessions into depressions.

 And they'll have a point. I was chief economist at the World Bank
 from 1996 until last November, during the gravest global economic
 crisis in a half-century. I saw how the IMF, in tandem with the U.S.
 Treasury Department, responded. And I was appalled. <

see http://www.tnr.com/live/coverstory.html

Jim Devine jdevine@xxxxxxx &  http://liberalarts.lmu.edu/~jdevine