> So, the issue really is world capitalism. Would
>it make a difference if the WB did grants rather than
>loans?
Grants, hmm, well... There's something patronizing about grants, though they're probably better than loans (and Meltzer & Co. agree). Reparations would be nice!
> Also, I note that the only countries that can seriously
>talk about economic development, even within a socialist
>mode, without exporting (much) are very big countries,
>e.g. Russia and China and India (and maybe the US or
>Brazil).
I alluded to the virtues of South-South linkages before. Those would be good for countries with small internal markets.
> Smaller ones were part of the CMEA trading system
>with the USSR in the actually existing days. Arguably much
>is worse in China since it shifted to exporting, but it is certainly
>growing more than it did before, and the same holds for India.
Growth yes, but are the people better off? Money income puts an upper bound on material welfare, but lots can happen below that upper bound.
Doug