What S Wrong With The Imf And How To Fix It
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What's Wrong With the IMF and How to Fix It
The IMF stands at a crossroad. Derided as increasingly irrelevant in the first decade of the new millennium, the Fund has had its power and prestige restored by the fallout from the 2008 global financial crisis. But will the resurgent IMF assert a more just and sustainable macroeconomic model and provide a voice for poor and marginalized people around the globe? Or will enduring weaknesses within the IMF mean it fails to address these issues? In this book, Bessma Momani and Mark R. Hibben dissect the variables and institutional dynamics at play in IMF governance, surveillance, lending, and capacity development to expose the fundamental barriers to change. Identifying four areas that could “fix” the IMF, they show how these genuine and workable solutions can give the IMF the effectiveness and legitimacy it needs to positively shape twenty-first-century global governance and push back against volatile and regressive forces in the international political economy.
In the Wake of the Crisis
Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
What's Wrong with the United Nations and How to Fix It
Seven decades after its establishment, the United Nations and its system of related organizations and programs are perpetually in crisis. While the twentieth-century’s world wars gave rise to ground-breaking efforts at international organization in 1919 and 1945, today’s UN is ill-equipped to deal with contemporary challenges to world order. Neither the end of the Cold War nor the aftermath of 9/11 has led to the “next generation” of multilateral institutions. But what exactly is wrong with the UN that makes it incapable of confronting contemporary global challenges and, more importantly, can we fix it? In this revised and updated third edition of his popular text, leading scholar of global governance Thomas G. Weiss takes a diagnose-and-cure approach to the world organization’s inherent difficulties. In the first half of the book, he considers: the problems of international leadership and decision making in a world of self-interested states; the diplomatic complications caused by the artificial divisions between the industrialized North and the global South; the structural problems of managing the UN’s many overlapping jurisdictions, agencies, and bodies; and the challenges of bureaucracy and leadership. The second half shows how to mitigate these maladies and points the way to a world in which the UN’s institutional ills might be “cured.” Weiss’s remedies are not based on pious hopes of a miracle cure for the UN, but rather on specific and encouraging examples that could be replicated. With considered optimism and in contrast to received wisdom, he contends that substantial change is both plausible and possible.