How is the imf view of the global economy

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Reference no: EM13762414

According to Stiglitz, the IMF believes it is fulfilling the tasks assigned to it. What are these tasks?

Explain how Stiglitz believes that the IMF has failed in its mission and that the failures are "not just accidental but the consequences of how it has understood its mission."

How is the IMF view of the global economy similar to Charles E. Wilson's famous remark that "What's good for General Motors is good for the country"?

Explain Keynes's conception of the International Monetary Fund and its role.

Explain how, in the opinion of Stiglitz, the market fundamentalists who dominate the IMF have "not articulated a coherent theory of market failure that would justify its own existence and provide a rationale for its particular interventions in the market." What have been the consequences of this?

Explain how the IMF's view of foreign exchange markets differs from its view of other markets. How might this be perceived as another example of hypocrisy in IMF policies? To what extent does Stiglitz agree with the IMF's view of foreign exchange markets and how does it contribute to his views about market interventions?

Explain how the lack of a coherent and persuasive theory of contagion may lead the IMF to spread a financial crisis rather than containing it.

When are trade deficits a problem? When are they not a problem? How does this provide an example of incoherent IMF policies?

Explain how the way the IMF handles bankruptcies represents another area where the Fund's approach is plagued with intellectual inconsistencies.

How does the "bail-In" strategy that was applied to Romania provide another example of a failed IMF approach?

What was logic behind expanding the IMF's role as a "lender of last resort"? What is Stiglitz's critique of this strategy?

According to Stiglitz, what other interests is the IMF pursuing (other than the objectives set out in its original mandate)? How are these interests in conflict with the original objectives?

Reference no: EM13762414

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