IMF Funding

Michael Cohen mike at
Wed Oct 7 07:52:26 PDT 1998

Tom Lehman wrote:

> Dear Doug and the LBOers,
> The USWA is very much opposed to current IMF policies. Our international
> president George Becker has spoken out strongly on this subject; I have the
> notes that I took of his speech to the District 1 Legislative Conference. The
> notes contain illustrative information that is proprietary to the USWA, and
> therefore I would not release them without George's approval.

It looks like we have a left--right alliance not to fund the IMF. The left thinksthe IMF actions are distructive the right thinks American money is wasted. This is probably a good thing. Without American Funds the G7 will probably want non--American leadership (no cure all but can't be much worse than the present). I would trust the Japanese and Germans to lead a recovery effort in SE Asia more than the Americans. At least they seem to have a passing interest in the prosperity of their Sphere of Influence (Japan) and personally I have more, perhaps misguided faith in their competence despite all of their so-called corruption which needs to be put in context. i.e. How does S & L, ... compare.

Germany I believe at least has a labor movement with a little more power and Japan I don't know much about. It would be nice to have Labor economists representings Unions on the IMF board. There is no reason a priori or politically that the IMF needs only to represent Capital. I don't regard such demands as Utopian, there are Labor movements in Europe, the Middle East, ... all of which ought to know something about development and have some political power.


-- Michael Cohen mike at Work: 677 Beacon, Street, Rm313 Boston, Mass 02115 Home: 25 Stearns Rd, #3 Brookline, Mass 02146 Tel-Work: 617-353-9484 Tel-Home:617-734-8828 Tel-FAX:617-353-7755

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