IGS 10a Chapter Notes - Chapter LATTE: Sunset Provision, Fiduciary, Nancy Birdsall
2 Sep 2016
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Nancy birdsall, the world bank: toward a global club. Mission: promote broadly shared and sustainable global prosperity serves common interest of all members. Only truly global club that has the financial structure of a credit union. Bretton woods: creating a credit club, not a development agency. Richer countries create funds and reduce borrowing costs for the poorer members richer and safer place (after wwii) Established to promote an open and liberal economic agenda based on market- driven growth and trade. Mission now framed as reducing poverty and not supporting encouraging global prosperity and security through trade and investment in an open, liberal global economy. Now an aid agency in which some parties contribute to help others. Left: lack of legitimacy (promoting privileged insider financial and corporate interests instead of addressing needs of voiceless poor. Right: lost relevance (private capital to developing world, question use of public resources to subsidize loans in those settings)
