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Economic News, Data and Analysis

IMF, World Bank Protests

Washington DC is bracing for another round of IMF/World Bank protests. I can’t say I have much sympathy with most of their methods and policy ideas. “Globalization” is simply too broad an issue to protest in any meaningful way; and when you sub-divide it into component parts, there seems to be a good deal of nonsense mixed in with a few good points.
Anyway, I’ve been reading a very good book, which looks at much of what the World Bank has done with a critical eye, and also summarizes a lot about what we know (and don’t know) about economic growth in developing countries.
Take a look…

Stuff – Books – ArgMax.com
The Elusive Quest for Growth
by William Easterly
Easterly (World Bank) delivers a very thoughtful critique of current and past World Bank policy from the perspective of an insider. His main point is that the failures of the Bank are a result of a “failure to apply economic principles to practical policy work.”
IMF and World Bank protesters should read this book – both to better understand the policies against which they are protesting, as well as to learn that the people at the World Bank are not dummies and have the same ultimate goal: to make the lives of the poorest of the world better.

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Filed under: Economics

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