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To: Tom who wrote (2408)	10/8/1998 8:47:00 PM
From: Dayuhan	Read Replies (1) \| Respond to of 2951

""If we do not have greater equity and social justice, there will be no political stability, and without political stability no amount of money put together in financial packages will give us financial stability," Can't really disagree, but giving more equity to the common man means taking it away from somebody else, and since that somebody else is usually in political power, efforts to redistribute are not likely to result in political stability. Interesting to see what concrete steps Wolfensohn proposes to achieve his noble goals, other than flinging money at them. I've observed many, many, WB-funded projects, and I can't say I'm any more impressed with them than I am with the IMF. For many underdeveloped countries, cracking money and resources out of the hands of unproductive feudal elites and moving it into productive hands will be a base requirement for real economic development. Accomplishing this without direct political interference will be next to impossible, though. In many countries short-term political stability is not really a desirable goal, as the fundamental socioeconomic changes that are required can only come from a period of instability. JMHO, of course, Steve