Development woes

Shame and blame in the global economy

The protesters who came to Washington, D.C., in April to rally against the World Bank and the International Monetary Fund prophetically denounced global inequities and defended the cause of the poor. The fact that so much of the world is excluded from the benefits of the global economy is indeed “shameful and unacceptable,” to cite the words of United Nations Secretary General Kofi Annan in a speech to the world’s financial leaders.

The protesters in the streets of Washington did not hesitate to point out where they think the burden of that shame lies—with the Bank and the IMF, along with the World Trade Organization. According to the protesters, these institutions control the world’s economy and resources for the benefit of corporations and the wealthy.


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