Suffering Asian People

That’s the real meaning of the World Bank’s SAPs. Have a look at The Whirled Bank, a very well done parody of my least favorite lending institution. From Sassafrass by way of this Metafilter thread. Inside the Whirled Bank site, they have a surprising speech byHerman Daly, a former WB chairman, in which he quotes Keynes, the father of modern economics thusly:

I sympathize therefore, with those who would minimize rather than those who would maximize, economic entanglement between nations. Ideas, knowledge, art, hospitality, travel-these are the things which should of their nature be international. But let good be homespun whenever it is reasonably and conveniently possible; and, above all, let finance be primarily national.

When did economists lose this bit of wisdom?


2 thoughts on “Suffering Asian People

  1. when the $$$$ is all they see…

    (having a commenting frenzy on your website. must be weird to have a total stranger doing this . once in a while, i’ll break the monotonous cycle of just staying a lurker)

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