Those crazed lefties radicals at Bloomberg explain how the free market policies of the World Bank have directly led to hunger and food shortages in Third World countries. How? By forcing those countries to import basic foodstuffs rather than grow their own. This was done so they would then manufacture goods to be exported elsewhere. It was that old “Magic of the Marketplace” thing, once the World Bank got rid of those pesky rules, regulations, and bothersome local governments, then everything would be just peachy. Right. That approach certainly has worked well with banks and subprime, hasn’t it?
The World Bank has “given consistently wrong advice,” said Jose Ramos-Horta, the president of East Timor in Asia and the 1996 Nobel Peace Prize winner.
In a bizarre coincidence, that “wrong approach” also keeps the countries deeply in debt and beholden to the World Bank. Imagine that.