Joseph Stiglitz, Nobel laureate economist and former World Bank official, has argued that the International Monetary Funds one-size-fits-all approach to economic development should be replaced with a participatory one, but it is unclear how Stiglitzs scheme would foster prosperity. Although elegant in the abstract, Stiglitzs case for more government involvement via a peoples capitalism rests on shaky empirical ground.
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|Other Independent Review articles by Scott A. Beaulier|
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