February 9th, 2005

breaking bad

Economics kills people

A stunning article by DD on Crooked Timber: How Economists Kill People. It is mostly quotes from Peter Griffith's book 'The Economist's Tale'. Griffiths was in Sierra Leone at the time the World Bank attempted to impose extreme free market dogma on that country. The World Bank required the Sierra Leone government to cease all imports of food and to remove the subsidy on rice, the staple food of the poor. Government was also forbidden to keep a stockpile of food.

neither the World Bank nor the Ministry of Commerce appeared to have made any effort to base their Agreement on logic or analysis

Griffiths, however, had been employed by the World Bank to examine the food situation in Sierra Leone, so he knew what would happen.
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