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Is Stiglitz right?

Despite his arrogance and lack of rigour, there is a troubling kernel of truth in Joe Stiglitz's critique of the IMF

It’s not often that an IMF seminar turns into the academic equivalent of the Jerry Springer show. But then it’s not often that a Nobel Prize winner and former senior official of the World Bank publicly accuses the IMF of wreaking economic and social havoc on millions of the world’s poor.

Joe Stiglitz had come to the meeting for a friendly discussion of his book, Globalisation and its Discontents, which draws on his experience as a member of Clinton’s Council of Economic Advisors (CEA) from 1993 to 1997 and as the World Bank’s chief economist until early 2000. Instead, he…

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