For progressives, these abysmal facts are part of the standard litany of frustration and justified outrage. What is new is that the IMF has joined the chorus. As Strauss-Kahn concluded in his speech to the Brookings Institution shortly before the Fund’s recent meeting: “Ultimately, employment and equity are building blocks of economic stability and prosperity, of political stability and peace. This goes to the heart of the IMF’s mandate. It must be placed at the heart of the policy agenda.”
Strauss-Kahn is proving himself a sagacious leader of the IMF. We can only hope that governments and financial markets heed his words.
Thursday, May 5, 2011
Stiglitz Salutes DSK Leadership of IMF
If, as widely anticipated, Dominique Strauss-Kahn becomes a presidential candidate, you can be sure that his stewardship of the IMF will become a major issue. Already the institution has been attacked both from the left (by J.-L. Mélenchon) and the right (by M. Le Pen). So it is noteworthy that Joseph Stiglitz, a Nobel-winning economist and longtime critic of international economic institutions, thinks that DSK has done an excellent job: