Re: Stiglitz on the IMF

[Eugene Coyle <eugenecoyle@xxxxxxx>]

Yeah, Joe, but what about the World Bank?

Gene Coyle

Jim Devine wrote:

> 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