Stiglitz on the IMF and World Bank
2001
Renowned US Economists Denounce Corporate-Led Globalization (November 18, 2001)
Nobel Prize winner Joseph Stiglitz, and internationally acclaimed economist Paul Krugman criticize the World Bank, IMF and World Trade Organization. They argue that these organizations pursue hypocritical, dogmatic and undemocratic policies influenced by big business. (Grassroots Globalization Network)
Protest and the Secret World of Financial Aid (October 2001)
Nobel-prize winner Joseph Stiglitz discusses here the failures of the current global financial system. He proposes a six-part reform strategy that calls for the democratization of and increased transparency in the governance of the IMF, WTO, and World Bank. (The Banker)
The IMF's Missed Opportunity (September 2001)
Joseph Stiglitz argues that the International Monetary Fund lost an ideal opportunity to re-examine its dogmatic ideology when it named Ann Krueger as First Deputy Managing Director. Instead, the appointment just reinforces the adherence to failed past policies. (Project Syndicate)
IMF Short-Changes Hapless Developing Nations: Report (July 6, 2001)
After interviewing former World Bank chief economist Joseph Stiglitz and examining confidential IMF documents, Columnist Gregory Palast realizes that developing countries that ask the IMF for financial assistant often end up losing more capital, while Western banks and the US Treasury gain more financial power. (Star)
IMF's Four Steps to Damnation (April 29, 2001)
Joseph Stiglitz, a former chief economist of the World Bank, explains how the IMF/World Bank plans worsen the social and economic situation in developing countries. (Observer)
2000
A Fork in the Road to Riches (June 25, 2000)
The idea of allowing developing countries to choose their best path for development is not welcomed by the World Bank. "Experimentalists" like Kanbur and Stiglitz, who believe that governments can set their own path and pace to the market, both ended up going back to their cozy academia. (New York Times)
Joseph Stiglitz. The Progressive Interview. (June 2000)
Professor Joseph Stiglitz, Nobel Price Winner and former Senior Vice President of the World Bank, gives his opinion on the International Monetary Fund and the World Bank. Stiglitz discloses their dogmatic doctrine and ignorance towards opposing views. (Progressive)
The Burghers of Wall St Stand Accused (May 25, 2000)
This article from the Australian Financial Review details renegade economist Joseph Stiglitz' views on the World Bank and the IMF. It provides further background information on the whole controversy surrounding his resignation.
Silencing Joseph Stiglitz (May 2, 2000)
Joseph Stiglitz, an outspoken economist who long opposes the "Washington consensus" imposed by the IMF with World Bank support, comments on the recent protests in Washington during the IMF-World Bank meetings. (Salon News)
Countries that Ignore IMF Fare Better Off - Stiglitz (April 19, 2000)
A day after protestors left Washington, former Chief economist for the World Bank, Joseph Stiglitz continued in the protestors spirit, delivering a speech, which harshly criticized IMF development policies. (Reuters)
Sound the Alarm (April 17, 2000)
An interview with economist James Stiglitz uncovers further criticism of global financial architecture, particularly the IMF, and begs the question of its reform. (Barron's)
Democratic Development as the Fruits of Labor (January 24, 2000)
After criticizing the IMF and World Bank for inaccurately evaluating development, former World Bank Chief Economist, Joseph Stiglitz stresses the need for a more democratic policy making team, to incorporate specifically the working class, i.e. labor unions into the discussion of development strategy.
World Bank Dissident Invokes Asian Workers' Woes (January 10, 2000)
Outgoing World Bank Chief Economist, Joseph Stiglitz, charges that the IMF, the World Bank and the US Treasury helped investors at the expense of workers in the Asian economic crises. (Interpress Service)
1998 - 1999
World Bank Economist Felt He Had to Silence Criticism or Quit (December 2, 1999)
Resigning from the World Bank, Stiglitz raises important questions concerning the "intellectual gap between" the latest thinking on sustaining growth in developing nations and what is still practiced at the World Bank and other Washington based organizations.(New York Times)
The World Bank at the Millennium (November 1999)
An article by Joseph Stiglitz from the Economic Journal, of the UK's Royal Economic Society. Links to Stiglitz's web page on the World Bank's site that provides a number of articles and statements, including "Joe's Conference Watch."
Unemployed Can't Bank on Stiglitz: More of the Same From the World Bank (February 14, 1999)
Report on South African NGOs' meeting with Joseph Stiglitz, World Bank Chief Economist and Vice President, during his recent visit to South Africa.
Stiglitz on Globalization and Liberalization
2001
FTAA (Free Trade in the Americas) Is a Threat, Warns Nobel Laureate (October 29, 2001)
Joseph Stiglitz criticizes US economic domination of Latin America and opposes "dollarization." He argues that Latin American countries will not benefit from international financial institutions and free trade agreements as long as the US uses its power in a discriminatory way.(Inter Press Service )
Nobel Laureate Encourages Global Justice Movement (October 15, 2001)
Joseph Stiglitz points out the unfairness of trade agreements, especially when it comes to developing countries. The Nobel Prize winner in economics asserts that the global justice movement must go on. (Inter Press Service)
Thanks for Nothing (October 2001)
Joseph Stiglitz describes the dark side of globalization, as a process driven by the North for the North, resulting in global instability and increased inequality. By using Ethiopia as an example, Stiglitz shows the ways in which IMF policies can go wrong and emphasizes the need for reform. (Atlantic Monthly)
Competing Over Competition Policy (August 2001)
Joseph Stiglitz discusses the Bush Administration's move toward establishing protection for the US steel industry in the context of increasing monopolization in industry. He praises the EU for its integrity in blocking the GE-Honeywell merger and argues that a corporatist market economy too frequently masquerades as a free market economy. Based on Alcoa's example, Stiglitz argues: "what makes for good profits creating global monopolization does not make for good public policy." (Project Syndicate)
Neither the Washington Nor the Post-Washington Consensus: An Introduction (2001)
Ben Fine argues that Stiglitz's criticisms of the Washington consensus do not depart radically from the neoliberal economic paradigm, maintaining emphases on individual behavior and market imperfections. (UK Economic and Social Research Council)
1998
"Toward the Post-Washington Consensus" (January 7, 1998)
A speech delivered by Joseph Stiglitz, Senior Vice President and Chief Economist of The World Bank, for the 1998 WIDER Annual Lecture in Helsinki. Because of its sharp criticism of the "Washington Consensus" that has shaped policy for two decades, the speech drew a lot of attention.
