Recent news stories about protests surrounding the spring meetings of the World Bank and the IMF have pointed out that these two institutions were set up at the end of World War II to perform needs that no longer exist.…
Author: Ed Lotterman
World Bank, IMF emerged from the exigencies of war
Are the World Bank and International Monetary Fund the witting tools of global corporations, holding down small countries so vampire capitalists can suck the blood of the poor? Or are they wise, omniscient dispensers of money and technical assistance that…
Public wants its privacy–and detailed data about itself
The 2000 Census is under way, and the issue of whether the “long-form” version, received by about one-sixth of the population, is too intrusive has become a political issue. Local media have reported many Census-related stories, two of which caught…
Those who think Greenspan rules are mistaking influence for power
Is Alan Greenspan the most powerful man in the world? Statements to that effect are increasingly common in the media and in casual conversations. Such comments make for dramatic reading, but they betray a misunderstanding of the difference between influence…
Real estate taxes troublesome, but they’re part of who we are
The Minnesota Legislature, like that in several other states with budget surpluses and looming elections, is grappling with changes in the taxes over which the state has authority. Minnesota, like many other states, levies a tax on sales and use…
Sign of a creative, thriving economy: Many high-tech firms are sure to fail
The Nasdaq rode a roller coaster this past week, but is still the star of the stock market boom. People are pouring money into new dot-com businesses and other high-tech firms that have yet to show any profit. Anyone with…
Oil price shock need not cause inflation
For the first time in more than a decade, oil price increases are front-page news. Crude oil has tripled and consumer gasoline has increased by 50 percent in about a year. Will this largely unexpected oil price shock cause rampant…
Slowing population growth will have strong effect on economics
Consider three news items from early March 2000. German Chancellor Schroeder urges changes in his country’s restrictive immigration laws to allow in more high-tech professionals. The U.S. Congress acts to remove the earnings penalty for Social Security recipients. The Minnesota…
Some Net alliances pose market peril
Jimmy Durante used to note how “everybody wants to get into the act.” It seems that the act right now is big corporations establishing Internet-based businesses. Last week General Motors, Ford and Daimler-Chrysler announced that they were establishing a new…
How human nature and politics can muddy national public works
Just imagine if Jerome Kern had written a musical called Dredgeboat instead of Showboat: Fish gotta swim and birds gotta fly The Corps just gotta build dams till they die. Can’t stop damming those rivers up! My apologies to Kern,…