RE: <<Cool. A true believer. What do you think our proper role in economic intervention should be? Should we kill the IMF or what?>>
A lot of people don't like the IMF, and some people downright hate it. Camdessus is probably one of the most unpopular people in the world, and has been this way for years. The IMF emphasis on government financial responsibility (read: lower deficits, lower inflation, no matter the social cost) at the time when client governments can least afford it (riots in the streets, people hanging each other in effigy or literally, massive unemployment and hardship) strikes a lot of people as unncessarily brutish. Plus the IMF keeps getting blind-sided by problems right under its nose (I don't recall the IMF yelling and screaming about an impending Asian crash all through the 1990s). So we can safely say that the IMF has a serious need for adjustment. My question, however, is this: So what will you replace it with? And when do you propose to do this? It's clear that we need something like the IMF for the present and forseeable future, since even though it sucks, the alternative is worse for everyone.
Logos |
