Tuesday, October 12, 2021

The Real Rot at the IMF — Jayati Ghosh

The “Doing Business” controversy has shaken confidence in the World Bank and the IMF. But it must not obscure the real problems with the Bretton Woods institutions: the disproportionate power of the US, the IMF’s deeply procyclical approach, and G7 economies’ unwillingness to enable multilateral bodies to address global problems....
Project Syndicate
The Real Rot at the IMF
Jayati Ghosh | Professor of Economics at the Centre for Economic Studies and Planning, School of Social Sciences, at the Jawaharlal Nehru University, in New Delhi

See also at PS

TINA spokesmen. Neoliberalism or bust.
China’s leaders think that they can crack down on the country’s private technology sector and still deliver material progress as state-owned companies take over. But by reversing the policies that enabled decades of rapid growth, they risk imperiling the unique economic model they seek to sustain.

Not only the Chinese leadership but many others realized that China could not sustain the level of growth it experienced while developing essentially from scratch and that a transition was needed. They also realized that the level of inequality and its blistering rate of increase was socially and politically unsustainable.  Neoliberal ideologues, not so much.

China's Self-Destructive Tech Takedown
William R. Rhodes, a former Chairman, CEO, and President of Citibank, is President and CEO of William R. Rhodes Global Advisors, LLC and author of Banker to the World: Leadership Lessons from the Front Lines of Global Finance, and Stuart P.M. Mackintosh, Executive Director of the Group of Thirty

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