Oct 08 2007
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By Rowan Wolf
10/4/07
The current protests in Burma are attributed to a 500% increase in fuel prices which crippled an already struggling population’s ability to survive (BBC). The people of Burma have been descending into deeper and deeper poverty over the last decade. According to Jonathan Head, author of the BBC article, the people of Burma spend an average of 70% of their income on food. The dramatic increase in fuel prices on August 15, 2007 was too much to bear.
It appears that the government of Burma (Myanmar) were reacting to a “suggestion” by the International Monetary Fund, that they needed to phase out the state subsidizing of oil prices. Myanmar is a member nation of the IMF. This makes one wonder at the seeming naivety of this statement by Head:
Like so many decisions made by the reclusive generals, the sudden hike in fuel prices is hard to fathom.
The IMF had advised weaning the population off subsidised fuel, because with rising world oil prices it was becoming an unsustainable burden for Burma, which although rich in natural gas, relies on imports for almost all of its refined petrol and diesel.
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Aug 25 2007
Cyrano’s Journal Online and its semi-autonomous subsections (Thomas Paine’s Corner, The Greanville Journal, CJO Avenger, and VoxPop) would be delighted to periodically email you links to the most recent material and timeless classics available on our diverse and comprehensive site. If you would like to subscribe, type “CJO subscription” in the subject line and send your email to
By Jim Miles
8/25/07
Fair Trade For All – How Trade Can Promote Development. Joseph Stiglitz and Andre Charlton. Oxford University Press, Oxford, U.K., 2005.
In 2003 Joseph Stiglitz published his much acclaimed and critically popular book Globalization and it Discontents. Its overall thesis, arguable particularly to those hidebound within the ‘Washington Consensus’, simply stated that following International Monetary Fund (IMF) rules and regulations – the combination of trade rules, loans, and ‘structural adjustments’ required to receive financial assistance – “the result for many people has been poverty and for many countries social and political chaos. The IMF has made mistakes in all the areas it has been involved in.”
These allegations have become more apparent as truths as time has passed since the publication of Stiglitz’ first book. It is a book that is readily accessible to the public. Stiglitz’ writing is clear and well argued. He does not slip into a frenzy of economic jargon and presents concise historical examples of the different situations that unfolded globally due in part to IMF ministrations (along with other non-governmental organizations and other governmental interference, especially with the EU and the US.). At the end of his arguments he presents what he sees as reasonable ways and means to help correct the faults of the IMF, the World Bank and the World Trade Organization (WTO).
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Aug 18 2007
Cyrano’s Journal Online and its semi-autonomous subsections (Thomas Paine’s Corner, The Greanville Journal, CJO Avenger, and VoxPop) would be delighted to periodically email you links to the most recent material and timeless classics available on our diverse and comprehensive site. If you would like to subscribe, type “CJO subscription” in the subject line and send your email to
Jim Miles reviews William Easterly’s book
8/18/07
This is one of those books that comes so close to getting it right all the way along, and in truth actually does get it right, but not always for the expressed reasons. The reader has to consider the author and the probable intended audience. The author, William Easterly, is a former World Bank research economist; his target should be people similar to himself and those currently in academia. Why else write a book criticizing the global top-down foreign aid/anti-poverty groups (governmental, corporate, or otherwise) if not to target that audience?
Two author comparisons come to mind: Joseph Stiglitz and Thomas Friedman.
Stiglitz is also an ex-World Bank functionary, in a higher position but not there for the same duration. His writing Globalization and its Discontents (W.W. Norton, 2003) is a much more aggressive and hard –hitting work calling for a full reform of the World Bank and the IMF as they are root causes of many of the world’s economic, social, and political problem (they are obviously all inter-related). He arrives at the same conclusion as Easterly, saying “The result [of globalization of the Washington Consensus] for many people has been poverty and for many countries social and political chaos. The IMF has made mistakes in all the areas it has been involved in.”
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