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Archive for 'World Bank'

Flaherty’s Legacy: Ideological, reckless and just plain lucky

This piece was originally published at the Globe and Mail’s online Report on Business feature, EconomyLab.   There are two reasons why it is difficult to comment on the legacy of a finance minister. 1) It is a tremendously challenging job, anywhere, any time. Stewarding one of the largest economies in the world through a […]

Austerity Kills: Conservative cure worst thing for what ails the economy says Stiglitz

Governments around the world are heading down a path to economic suicide. So said Nobel Prize-winning former chief economist of the World Bank, Joseph Stiglitz, to hundreds of well-heeled financiers and decision-makers who paid a bundle to hear him in Toronto. With a voice as gruff as gravel, and an energy bristling with urgency, he […]

World Bank Joint Ventures With JP Morgan

(The following was sent by ITUC Washington representative Peter Bakvis and deserves wider distribution. While this action by the World Bank might reduce food prices at the margin, it would be far preferable for them to push for regulation of speculation in food instead of joining in a destructive game.)   In partnership with Wall […]

Do Wages or Profits Lead Growth?

Earlier this month, I served as the discussant for a presentation by Engelbert Stockhammer, an economics professor from Kingston University in London. He was speaking at a conference organized by the workers’ representation to the International Labour Organization (ACTRAV). Stockhammer reviewed two antithetical strategies for economic growth. The pro-labour strategy aims to increase wages by […]

The World Bank’s Slippery Advocacy of Tax Cuts

Doing Business enjoys the highest circulation of any World Bank publication. It ranks countries based on the favourability of their regulations to business. It is like the Heritage Foundation’s Index of Economic Freedom and the Cato/Fraser Institute’s Economic Freedom of the World Report, but supported by the World Bank’s credibility and clout. (Notwithstanding corporate Canada’s […]

World Bank, IMF and Labour Rights

I’m posting below an interesting missive from Peter Bakvis, the Washington representative of the International Trade Union Confederation, on an intersting shift of position on labour rights by the IFI.s “The World Bank has issued a memorandum to its country and sector directors instructing them to stop using the “Employing Workers Indicator” (EWI) of its […]

Bank of the South

From the Latin Americanist: Bank of the South launched Representatives of seven South American countries met on Sunday to formally launch the Bank of the South- a new regional development bank. In a ceremony in Buenos Aires, the bank was established with an initial capital of $7 billion and with the goal of acting as […]

Goldman Sachs and the World Bank

The Independent’s take on Zoellick as new World Bank kingpin: Goldman Sachs marches on with Bush’s candidate for World Bank By Leonard Doyle in Washington Published: 31 May 2007   … Mr Zoellick, 53, is a senior executive of Goldman Sachs, who until recently was the deputy US Secretary of State. Before that he was […]

China and the end of neoliberalism?

Sachs’ article below suggests that China’s growing influence on the world stage may well signal the end of neoliberalism. That ideological framework of monetarism, liberalization, deregulation and privatization was imposed through structural adjustment programs, mostly in Latin America and Africa, with terrible results. Meanwhile, most Asian countries flouted those policy prescriptions en route to steller […]

Wolfowitz Dead in the Water

Here’s a communique (posted about 9 pm) from Peter Bakvis of the Global Unions office in Washington who has been closely observing this fiasco. One wonders if Canada is caving along with the Bushies or will stand as the last defenders of this nepotistic ultra neo con.., (And you read it here first — was […]

Wolf(owitz) in sheep’s clothing

Naomi Klein takes a look past Wolfowitz to the real corruption at the World Bank: World Bank sullied before Wolfowitz     It’s not the act itself; it’s the hypocrisy. That’s the line on Paul Wolfowitz, coming from editorial pages around the world. But it’s neither the act (disregarding the rules to get his girlfriend […]