Swear Off ‘Market Fundamentalism’

With the global economy facing severe recession, lame-duck President Bush is hosting the leaders of 19 other major countries in Washington this weekend to try to prepare a coordinated response. A noble goal. But, alas, Bush is the wrong host. Washington is the wrong...

Towards an Economic System that Works for People and the Planet

Towards an Economic System that Works for People and the Planet On November 15, the leaders of 20 nations and the major multilateral financial institutions will gather behind closed doors in Washington to discuss the future of the global economy. Led by outgoing U.S....

The IMF is Dead; Long Live the IMF

Rumors of the International Monetary Fund’s demise appear to have been greatly exaggerated. While the IMF has spent most of the last three years looking for clients and “relevance,” the end of the U.S. housing bubble and the resulting global credit...

We Only Need One Bretton Woods II

Following several weeks of widespread global financial turmoil, leaders of several of the world’s most powerful countries are planning a summit and a series of meetings to address this burgeoning crisis. The November 15 summit and an accompanying series of...
Book Event: Broad and Cavanagh’s ‘Development Redefined’

Book Event: Broad and Cavanagh’s ‘Development Redefined’

Welcome in fittingly the World Bank and IMF annual meetings with a discussion of the newest book by American University professor Robin Broad and Institute for Policy Studies Director John Cavanagh. Entitled Development Redefined: How the Market Met its Match, the...
A Third Way: Globalization from the Bottom

A Third Way: Globalization from the Bottom

Just as many books have been written as there are individual viewpoints on the crises related to globalization. Mark Engler’s new title How to Rule the World: the Coming Battle Over the Global Economy has some unique offerings. It offers insight about the...

The Commodities Bubble

For those following economic trends, the past 18 months are notable primarily for two reasons. First, the U.S. housing market, long seen as overvalued by alternative economists and even powerful economic institutions including the International Monetary Fund (IMF),...

Africa’s Unnatural Disaster

While the mainstream media doesn’t always ignore the pressing issue of hunger in Africa, it rarely explores the root causes of this problem. Behind most news on the issue, there’s an assumption that casts hunger as a natural result of unfortunate weather...
Destroying African Agriculture

Destroying African Agriculture

Biofuel production is certainly one of the culprits in the current global food crisis. But while the diversion of corn from food to biofuel feedstock has been a factor in food prices shooting up, the more primordial problem has been the conversion of economies that...

Book Event: Mark Engler’s "How to Rule the World"

Mark Engler will sign and discuss his new book, How to Rule the World: The Coming Battle Over the Global Economy. (Nation Books, Release Date: April 7, 2008, ISBN 978-1568583655). Thea Lee, policy director for the AFL-CIO, will moderate the discussion. “As the...

Chomsky on the Rise of the South

Noam Chomsky is a noted linguist, author, and foreign policy expert. On January 15, Michael Shank interviewed him on the latest developments in U.S. policy toward regional challenges to U.S. power. In the second part of this two-part interview, Chomsky also discussed...

Hemispheric Hypocrisy

First Lady Cristina Fernandez de Kirchner’s recent decisive victory in Argentina’s presidential elections, the first for a woman in that country, has meant inevitable comparisons. Frequently referred to as “Argentina’s Hillary,” the...
All Fall Down

All Fall Down

Ten years after the Asian financial cataclysm of 1997, the economies of the Western Pacific Rim are growing, though not at the rates they enjoyed before the crisis. The region has been indelibly scarred by the crisis. There is greater poverty, inequality, and social...

Latin America Rising: U.S. Role Turned Upside Down

For most Americans, the International Monetary Fund is just one of the hulking edifices in downtown Washington, D.C., filled mostly with men in dark suits. But for millions of people in the developing world, the IMF is painfully familiar. For more than a...

Change and No Change at IMF

In contrast to the circus atmosphere that surrounded the World Bank presidency, a surprise handover of the reins at the International Monetary Fund (IMF) should prove to be a quiet affair. It will be conducted mostly out of the media spotlight and by the prevailing...