Now Stiglitz makes more trouble!

[Brad De Long]

>On Thu, 27 Jan 2000, Brad De Long wrote:
>
>>  And I shook my head. I looked back at the date on the cover of the
>>  issue: May/June 1996. And I thought: Hasn't Robert Wade figured
>>  out--hasn't anyone told Robert Wade--that today, as far as
>>  development policy is concerned, Joseph Stiglitz and Lawrence Summers
>>  are the "U.S. state"?
>
>And what massive, shocking changes in the neoliberal/monetarist model were
>brought about by the Joe-and-Larry-Show, pray tell? ...
>
>-- Dennis

That the U.S. Treasury and the IMF loaned a bunch of money to Mexico 
and East Asia to make the interest rate and exchange rate shocks 
produced by the Wall Street panic less than they would otherwise have 
been? (Admittedly, I think that they should have loaned more for 
longer periods of time at lower interest rates with less 
conditionality; but something was in this case (I think) a lot better 
than nothing.)

Brad DeLong