The arguments about the author that the IMF’s single-minded concerns about the inflation and the fiscal rectitude are believed to have been inappropriate for many countries. This according to the author has created a situation of unemployment. However, the author also give out some solutions to these problems such as the changing the bad economic habits within the IMF by increasing transparency and accountability within the organization. He also says that the IMF should reduce the influence of special interests by giving the least developed countries more ownership over the conditions that have been imposed by the international monetary funds.
Personally I have enjoyed very much the argument in this article. The article has given me a chance to critically reflect on some of the factors that have led to economic downtown in the world. The article has also enabled me to understand the reasons behind the least developed countries economic backwardness. The article is also useful to the economic policy makers. The article can enable them to make various economic policies which prevent the occurrence of another global economic depression like the one experienced in 2007/2008 and before the Second World War. The article can also be used by various economic policy makers to come up with strategies for alleviating the poverty levels in the least developed countries.
Work Cited
Milner, Helen. “Globalization, Development, and International Institutions: Normative and Positive Perspectives”. U.S.A: Princeton University:
William Easterly, The Elusive Quest for Growth: Economists’ Adventures and Misadventures in the Tropics (Cambridge: MIT Press, 2001).
