World Bank: Precisely the Man for the Job

Lawrence Summers is the Final Answer

By Hunter Baker Posted in Comments (9) / Email this page » / Leave a comment »

There has been a great deal of speculation on the topic of who President Bush should appoint to replace Paul Wolfowitz as the head of the World Bank. Tony Blair's name has come up frequently. One wonders whether political skills are what is needed.

It has been suggested that, in addition to his romantic entanglement, part of Paul Wolfowitz's problem was that he did not have the professional respect of the financial community needed to help him overcome the entrenched bureaucracy of the World Bank. Tony Blair would avoid the first problem, but not the second.

One man comes to mind as a nearly perfect fit for the World Bank: Lawrence Summers. Larry Summers has been a success as both an academician and as Secretary of the Treasury at the end of the Clinton administration.

Though he was ultimately forced out as president of Harvard University, the trouble he stirred up there was consistent with tough-minded independence and a near immunity to standard issue political correctness.

The recurring theme in Summers' career has been a desire to follow empirical evidence in pursuit of the answers to very specific questions. He is in the top class of today's economists.

To sum up, Summers has the credentials, undeniable bipartisan appeal, and the guts to take on the reform of an international organization ripe for it.

END.


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Though he was ultimately forced out as president of Harvard University, the trouble he stirred up there was consistent with tough-minded independence and a near immunity to standard issue political correctness.

I may be mistaken but as I recall, Mr. Summers, when attacked by the feminist/diversity crowd for a perfectly legitimate academic observation, began a non-stop series of apologies to any/every aggrieved victim group within sight. He so much as admitted that his initial premise may not have been such a good idea to postulate. This was all followed with appeasement in the form of grants of funding into whatever agenda was deemed appropriate by the leftist intellectual goonsqauds.

To sum up, Summers has the credentials, undeniable bipartisan appeal, and the guts to take on the reform of an international organization ripe for it.

Mr. Summers may have the academic and political skillsets to run the world bank, but in the testicular fortitude arena, I'd say he comes up tad short.

He is the picture boy for "gutless wonder". It's too bad because he really had some great ideas and could have been a visionary leader. Instead, he allow Harvard to accelerate down the road to being inconsequential.
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CongressCritter™: Never have so few felt like they were owed so much by so many for so little.

does not exist because we shouldn't even be a part of the World Bank, Bush ought to appoint a dog for the job.

"Nothing works like freedom, Nothing succeeds like liberty"
Kyle

but let's keep in mind that Summers only looked like a bulwark because his foils were that repulsive. He's probably still a free trader, but you would lose that element of bipartisanship that would otherwise accrue (whatever it is worth) because I doubt he's terribly popular on the left.

but I don't know if President Bush has enough fortitude left to keep up this battle.

And Rightly So!

Real change requires real change. -Newt Gingrich

The World Bank is an enormously important institution, and has been a key means for the US to use soft power to direct international affairs. Blair is a bad idea because, historically, the position of President is filled by an American and we do not want to give up that perogative for the future (whatever Blair's immediate appeal). Lawrence Summers would be a fine choice if you wanted to name someone with the respect of the financial community and undeniable bipartisan appeal. So would Bob Rubin. So would Paul O'Neill, for that matter. These are serious folks with serious resumes, the respect of the financial community, and a demonstrated ability to be persuasive on a world stage.

(Contra above, "a dog" and John Bolton would be bad choices.)

For we have a peculiar power of thinking before we act, and of acting, too, whereas other men are courageous from ignorance but hesitate upon reflection.

and I come up with...

1. Soupy Sales.
2. Larry, Moe & Curly - a committee approach to management.
3. The current version of Lucky Luciano.
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CongressCritter™: Never have so few felt like they were owed so much by so many for so little.

I think Summers would be an awful choice for the World Bank. I would much prefer a supply-sider. More Keynesian economics is the last thing the third world needs. I remember Summers from the 1988 presidential campaign attacking the Reagan tax cuts.

The third world needs private property rights, stable currency and low tax rates. I think it would be nice if the World Bank got into micro-loans instead of large loans to governments.

Kevin Allen

 
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