econmics

Perhaps one of the most influential minds of this millennia , Joseph Stiglitz has taken on the role of global economic adviser , examining the economic policies of the International Monetary Fund and the World Trade Organization , in view of the impact that this has had on the developing countries that it seeks to help . In his book entitled , Globalization and its Discontents , Stiglitz criticizes the actions of these international financial behemoths by arguing that these institutions are not so much interested in helping developing economies but are instead pursuing special corporate interests . His

personal involvement with the Economic Advisers of Bill Clinton and as the Chief Economist at the World Bank have given him a unique perspective on this issue and also allow him to give criticisms on the economic theories that have been used to support the actions of the IMF , World Bank and the WTO . As such , this brief discourse will attempt to shed more light on the theories embodied in this book juxtaposed against the common body of economic knowledge

In to arrive at a better understanding of the issue at hand , it is important to outline the basic premise of the book . The main argument of Stiglitz is that the IMF policies , including those of the WTO and World Bank , have been mere afterthoughts , designed not to alleviate the economy of the affected countries but rather to provide opportunities for the capitalist countries and economies . The contribution is not so much in providing the developing country...