Independent Study Proposal for Ms. Lewis

Topic: The World Bank and IMF

Thesis: The World Bank and IMF must be democratized and made accountable to all citizens so that they can be more effective in fulfilling their stated goals of reducing poverty and promoting economic stability.

Sources

1) Stiglitz, Joseph E. Globalization and Its Discontents. New York: W. W. Norton & Company, 2003.

Nobel Prize winning economist gives an insider's analysis of the World Bank and IMF; describes the major economic events of the last decade; describes his disillusionment with how the IMF puts financial and commericial interests ahead of the interests of developing nations; offers a reform agenda

2) Danaher, Kevin. 10 Reasons to Abolish the IMF & World Bank. Toronto: Publishers Group Canada, 2004.

Shows how institutions of "free trade" are widening the gap between the rich and poor and undermining basic democratic values; calls for the IMF and World Bank to be replaced with new international economic institutions based on democratic, sustainable, just and humane values.

3) Blustein, Paul. The Chastening: Inside the Crisis That Rocked the Global Financial System and Humbled the IMF. Cambridge: PublicAffairs, 2003.

Behind-the-scenes look at the role of the IMF in the economic crises of the 90s; exposes the flaws in the IMF which prevent it from effectively promoting eocnomic stability

4) Brooks, Stephen G., and William C. Wohlforth. "Reshaping the World Order: How Washington Should Reform International Institutions." Foreign Affairs Mar. 2009: 49-63.

Reform recommendations for out-of-date international institutions; the role of the US

5) Stiglitz, Joseph E. "Capital-Market Liberalization, Globalization and the IMF." Oxford Review of Economic Policy 20 (2004): 57-71.

Why market liberalization often leds to increased economic instability

6) Stiglitz, Joseph E. "Democratizing the International Monetary Fund and the World Bank: Governance and Accountability." Governance 16 (2003): 111-39.

The IMF's system of governance has lead to predictably counter-productive policies; the World Bank reformed its agenda to more effectively reduce poverty; the lessons that the IMF can learn from the World Bank; recommendations for IMF reforms