The World Bank continues to thumb its nose at democracy and human rights with two announcements this month.
First, the bank announced that Paul Romer, intellectual author of the much maligned neocolonial “Charter Cities” development scheme, will be the financial institution’s new chief economist starting Sept. 30. Even the free market champion Financial Times admits that “his ideas are likely to tip too far away from democracy to be practicable.”
But the timing for Romer’s new reign at the bank may be perfect for him as the Bank also just watered down its environmental and social safeguard policies, and doesn’t even require itself to respect human rights. But in reality, human rights, democracy and sustainability have never been priorities at the Bank.
As I have written before, it’s time to shut down the World Bank.