Stiglitz in FT

[Brad DeLong]

>In remarks not calculated to soothe ruffled feathers on 19th St in 
>Washington, the indefatigable Stiglitz continued: "I'm beginning to 
>ask 'has the credibility of the IMF been so eroded that maybe it's 
>better to start from scratch? Is the institution so resistant to 
>learning to change, to becoming a more democratic institution, that 
>maybe it is time to think about creating some new institutions that 
>really reflect today's reality, today's greater sense of democracy' 
>. . . it is really time to re-ask the question: 'should we reform or 
>should we build from start?'"

But in a world in which Allan Meltzer chairs the relevant committees, 
the options aren't "reform or rebuild" but "reform or remove."

Brad DeLong