Tuesday, April 19, 2011

Do what I say not what I do



These days there is a great amount of praise for the IMF's changing views, on everything, from the rethinking of macroeconomics, to their admission that capital controls might be good.  I remain very skeptical, and that's why it was great to read Mark Weisbrot's last piece on the IMF. He reminds us that:

"Unfortunately the IMF's practice still does not match its rhetoric or even, increasingly, its own research.  In Greece, Ireland, Spain, Portugal, Latvia and other countries, the Fund is still involved in the implementation of 'pro-cyclical' policies that will keep these countries from recovering for a long time."

How do you call a person (or institution) that says one thing, but then does another?!

No comments:

Post a Comment

Inflation, real wages, and the election results

Almost everybody these days accepts at face value that the result of the election was heavily determined by negative perceptions about Biden...