Magazine
Latest Issue

The Washington folly

Paul Collier's review of my book failed to take into account the disastrous effect on developing countries of following the advice of the IMF and World Bank

By Erik S Reinert   June 2007

In the latest issue of Prospect, Paul Collier reviews two books, Lawrence E Harrison’s “The Central Liberal Truth: How Politics Can Change A Culture and Save It From Itself” (OUP) and my “How Rich Countries Got Rich and Why Poor Countries Stay Poor” (Constable & Robinson). Both books represent an alternative thinking to that of the Washington institutions, including the World Bank, where Collier was director of the development research group.

The starting point for this debate is the striking failure of the IMF and World Bank to create wealth in many countries. In fact, their advice has led to…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect