Monday, March 21, 2005

The poor are with us always (but we still need to make sure)

The World Bank, brainchild of the great British economist J M Keynes, came into being as a result of the 1946 Bretton Woods conference. The bank's stated mission is quite simple: it is the alleviation of poverty. Undeniably good stuff.

Anyone who has close-up, first-hand experience of Keynes's brainchild at work though knows that in today's world the bank needs poverty far more than poverty needs the bank.

At a time when there are question marks over the bank's future - questions about it not making enough out of poverty - the appointment by President Bush of Paul Wolfowitz to be its head has been seen by some as controversial. Not by me though. Given that the POSIWID of poverty is the World Bank then Ambassador Wolfowitz is the ideal person to secure the bank's future by securing it a continuing and endless supply of poverty.

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