The IMF insulates itself quite effectively from the academic and
political influences which can be quite muddling and incoherent. You
can perhaps have ten different approaches toward resolving the current
economic crisis in Asia if all the "economic" eggheads are allowed to
come in.
Quee-Young Kim
University of Wyoming
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From: Richard N Hutchinson[SMTP:rhutchin@U.Arizona.EDU]
Sent: Thursday, December 11, 1997 2:00 PM
To: WORLD SYSTEMS NETWORK
Subject: Re: Sachs on the IMF (from today's Financial Times)
Sachs' position on the IMF, reported in the Financial Times, is
perhaps
not so curious given the amount of money invested in Asia that might
be
lost (on top of the massive sums already lost) if the IMF imposes
austerity plans and slows growth. The interests of the bankers
involved in
making loans, and the interests of the manufacturers involved in
direct
investment, as well as investors in the markets, are not the same.
What
seems curious is that Sachs has been so identified with the IMF in
the
past. Asia, though, "The Tigers," were supposed to be different.
Sachs
apparently maintains that they still are.
Richard Hutchinson