Obama’s World Bank Pick? Illuminating

Traditionally, the US picks the head of the World Bank and the Europeans the head of the IMF.  Obama’s pick tells us a lot about Obama, I think.

  • His choice, Jim Yong Kim, has no banking or financial experience.  I guess in Obama’s world, skills or experience are not mandatory.
  • Kim has written that economic growth does not help the poor in the developing world – an odd belief for the head of an organization dedicated to global economic growth.   But it’s in keeping with Obama’s anti-capitalist mindset.
  • Finally, Kim is a doctor.  The organization he founded advocates for… wait for it… socialized medicine.

Frankly, it’s the first point I find most disturbing.  When I was doing my overseas work, I saw a lot of this attitude amongst the US government/aid types I encountered.  Since they didn’t have to actually do anything (or at least were never checked up on to make sure they were accomplishing anything) ability was unimportant – aside from the ability to look good.  That counted for a lot.  And it seems a running theme in the Obama presidency.

Oh well.  It’s just the World Bank.  As a development institution, I don’t think it’s done much anyway.


About Mystic Cowgirl

I worked overseas in the aid game for longer than I'd like to admit and learned several important things: 1) Third World countries aren't poor because America is rich. They're impoverished due to socialist governments that provide neither rule of law nor basic infrastructures; 2) These socialist governments redistribute wealth from taxpayers to the government workers. There's no benefit to the poor or downtrodden, and certainly not to the general welfare in terms of infrastructure improvements. 3) America is moving toward the Third World model. Rule of law has been subverted because equality under the law is disappearing as special interests carve out exemptions to regulations and special favors under the law. The redistribution of wealth to government began decades ago -- total compensation for government employees now outpaces salaries in the private sector.
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