who will be next World Bank President What will they do
 
 

     
 

Free-market fundamentalism. An interesting article from prominent US economist Paul Krugman takes Wolfowitz to task for his role in Iraq reconstruction planning. Krugman argues that this is the closest relevant experience that Wolfowitz has to what he would have to do at the Bank. He comments: "the administration went into Iraq determined to demonstrate the virtues of radical free-market economics, with nobody warning about the likely problems. What happened there is likely to make countries distrust any economic advice Mr. Wolfowitz might give".

Krugman mentions that Moisés Naím, editor of Foreign Policy, says that the Wolfowitz nomination turns the World Bank into the American Bank. Krugman goes further: "make that ugly American bank". He concludes: "rightly or not, developing countries will see Mr. Wolfowitz's selection as a sign that we're still trying to impose policies they believe have failed".

Alex Wilks ~ March 18, 2005


 
 
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