POLB81H3 Lecture Notes - Debt Relief, Human Capital, Millennium Development Goals
ProfessorM.Hoffmann- Universityof Toronto
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2/4/2013 9:09:00 AM
WORLD BANK SEES ROLE AS CONSULTANT ANNE LOWERY
Of what is this an instance ?
- This is an instance of Institutionalism , where expert are giving advice to
- Hegemonism : capitalism/ Western Power ( its not any kind of advise , offering
advice about how to better function in the global economy.
- World Banks mandate , and the role it think it should play ( more generalized
economic and financial advice)
- Middle income countries are protected , they are still going to play the role of
thunder, but it is going to be less of a role because of globalization; the flow of
capital. There Is going to be continuity in terms of the world bank seeing itself as an
- How these perspectives would define these problems : poverty and development
- Millennium development goals by 2015 eliminate severe poverty.
- Institutionalism : more structural adjustments, opening their markets
- How is a development a problem to feminism : long-term institutionalized,
subjugation of women ; women are forced to carry children that they cannot provide
for (gender discrimination leads to poverty)
- Gender equality hampers us to poverty , produced unequal access to education ,
access to credit is unequal and discriminatory ; not brining full potential of population
- Hegemonism : exploitation + transformation
- Control of production , commodity , dependence , impossible to get out of this
- Structurally set up to advantage some and disadvantage others;
- Set up to help the capital owning classes
- If your in the periphery , It is hard to get out of it.
- bad government
- failed states lack of resources
- lack of knowledge
- problem of making better states ;
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- Intitutionalsim : creating of IO is to make better states, to enhance soverienghty
- How you understand a problem is in which way you would attack the particular
- Trying to understand some conventional solutions , take insttuonaistm because
of WORLD BANK ;
- CRITIQUES with the WORLD BANK
- How it is a way out, but what are the disadvantages from any one of these
- Encourage Low wage industries: get investment in the country , take
advantages in your comparative advantage as in low wage so you get moving as a
commodity producer and getting into the industrialized economy, any job is better
than no job , moving from one dollar to two dollars a day. If you start with low-wage,
get more investment and get higher wages. Lead to higher capital ; CHINA ,
TAIWAN , JAPAN , able to grow there way into higher industries; ATTRACT LOW
WAGE by giving low wages, whether sweat shops actually have a net benefit,
having low or no standards ; they might not be worth the investment that you get ;
You will be locked into poverty, not able to get human capital and move forward ;
leads to outsourcing which doesn’t work in norths favour.
- more aid : PROS : west or global north does not live up to giving more aid.
Can help sustain human needs. It can help you achieve human capital and get
you out of poverty. By giving aid you can deal with it directly , micro-credit (
small sums to individuals to build that credit)
- CONS: money not being unconditional , the interest of the source; what
kind of strings are attached to the aid ? do they promote development or make
it harder ? does it help certain aspects of poverty worse ? Mismangement of
funds , corruption , lack of strong insttutions.
- debt relief : creating a dependence on this , aid always has political ties ,
- PROS :
- institutional change domestic
- Instituional change GLOBAL
- PROS : change rules ;
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