The Seamy Inside of Capitalism
by Joseph Stiglitz Joseph Stiglitz was Clinton's economic advisor and, from 1997 to 2000, chief economist at the World Bank. So he is no socialist radical. He is for capitalist globalisation, but against the way in which it has been "managed". He regards the International Monetary Fund (IMF) as having often acted on behalf of the advanced capitalist states and for the US state and the US's financial sector. By so doing, institutions like the IMF have acted against the interests of capitalism as a whole. And they have often had an appalling and, according to Stiglitz, an unnecessary effect on...