Obama’s Pick for World Bank Hates Capitalism


by Jacob Laksin

Imagine if President Obama appointed radical Noam Chomsky, who has denounced capitalism as a “murderously destructive catastrophe,” to head up a committee on economic growth. That’s less of a stretch than it may seem, considering Obama’s nominee to head the World Bank, current Dartmouth College President Jim Yong Kim.
Kim’s expertise is in health policy, so little is known about his views on economic development, the World Bank’s primary purpose. What is on the public record, however, is deeply troubling. A case in point is a collection of studies that Kim co-edited in 2000, Dying for Growth: Global Inequality and the Health of the Poor. The grim title accurately reflects the book’s radical central premise, namely that capitalism and economic growth is bad for the poor across the world. The introduction, which Kim co-authored with several other academics, states the point bluntly: “The studies in this book present evidence that the quest for growth in GDP and corporate profits has in fact worsened the lives of millions of women and men.”
In this vein, the authors go on to dismiss “neoliberalism” – the preferred left-wing academic pejorative for free trade and free markets – as a failure, particularly for the world’s poor. “Even where neoliberal policy measures have succeeded in stimulating economic growth, growth’s benefits have not gone to those living in ‘dire poverty,’ one-fourth of the world’s population,” the authors assert.

Read More: http://frontpagemag.com/2012/03/29/obamas-world-bank-head-pick-hates-capitalism/

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