O'Neill: "WB has driven poor countries into a ditch"

[Bradford DeLong]

>Bradford DeLong wrote:
>
>>  Well, this is a big problem. Which is worse, state-led development
>>  led by a corrupt anti-developmental state, or market-led development
>>  driven by clueless guys in New York who spend all their time trying
>>  to guess what average opinion expects average opinion to be?
>
>this is too much a simplification, Brad...what do you mean by  state-led
>development
>led by a corrupt anti-developmental state,


>???? Latin American ISIs??

Certainly, for the most part.


>Asian
>Tigers??

No. Corrupt, yes; anti-developmental, no.


>Argentina's 1990s?

No. Trying not to follow state-led development...


>Perú of the 1990s?

Yep.


>Brazil of the 1960s or

No. Corrupt, yes. Anti-democratic, yes. Anti-development, no.


>Have you ever
>consider the possibility that  "state-led development led by a corrupt
>anti-developmental state" of the 1980s and 1990s were precisely the
>consequence of "market-led development driven by clueless guys in New York
>who spend all their time trying to guess what average opinion expects
>average opinion to be"?

Nope. Anti-developmental states long predated the 1980s and 1990s. 
Can't blame Juan Peron on the "Washington Consensus," after all...

Brad DeLong