Who Says We Don't Need the World Bank?

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Easterly, William. 2006. The White Man's Burden: Why the West's Efforts to Aid the
Rest Have Done So Much Ill and So Little Good (Penguin).
 147: "Who got the most standbys [credits] from the IMF over the last half century?
The answer is Haiti, with twenty-two.  And not just Haiti, but the Duvalier family
(Papa Doc and Baby Doc), under whom Haiti got twenty of the twenty-two standbys from
1957 to 1986.  The politics were bad, but the Duvaliers made up for it with even
worse economics.  The income of the average Haitian was lower at the end of the
Duvalier era than at the beginning?"

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com