>Chris,
>
>As in your earlier lucubrations about SDR's, your "solution" to the problem
>presumes that the problem doesn't exist.
Kindly quote my arguments because I do not recognise you assertion as a lucubration or any other sort of product of my own mind. What problem does not exist? The Botswanan minister clearly thinks a problem exists.
Abbreviations: In your condensed post you use SDR's - special drawing rights, TT revenues - presumably transfer-tax revenues, and FDI. What exactly is FDI. As this is an interdisciplinary list, for the sake of others if not myself, I would be grateful if you could be specific. Foreign Direct Investment? It might also reveal the political assumptions behind your assertions more clearly.
>Do you really think that if FDI to
>Africa is currently 1% of total (which it is), that somehow a fund made of
>TT revenues is going to somehow either make its way to Africa, or make any
>difference?
1% of *which* total?
Why should a fund of 200 billion dollars a year *not* make a difference to Africa, for projects on the social infrastructure, for education and health?
It might pay for aids drugs. (Capitalists are always keen on charity if it helps their profits.)
How would such a sum of money "somehow" "make its way to Africa". Apart from flying there, or moving there by the beneficent unseen hand of capitalism, it might actually be directed there. Not for capitalist profit, which is the direct motivation of FDI.
>I mean, who is going to administrate this fund?
Quite. It would of course have to be administered.
>The IMF? The World Bank? What makes you think that either of these is
politically
>available to that project?
Why should they not be? It would be up to them to explain why they could not. And lose credibility in the process.
Besides the IMF and the World Bank are not identical. Contradictions exist between them, and should be exploited by progressive people. It is partly because of the flight of capital from developing countries, as well as neo-liberal ideology,they have appeared to be identical. Poor countries have been so strapped for cash that they have had no bargaining power with the World Bank at all because it was one of the few sources of government capital.
But the World Bank's agenda is having to notice some of the criticisms of neo-liberalism, and it is now emphasising its interest in education and health.
>How is the fund going to be denominated? More SDR's?
Why not? Anything but in dollars or gold. SDR's related to a basket of currencies would be quite adequate and easy to manage with modern computer systems.
Of course US hegemonic interests will want it designated in dollars, and the balance of forces will lead to some sort of compromise of an apparent technical nature. Ideal for management by a computer alogarithm.
Well, Christian, what are your lucubrations about a solution to the problem of poverty, death, and capital loss in Africa?
Chris Burford
London