Midterm_review_StudyGuide

Midterm_review_StudyGuide - IMF Model Responsible for...

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IMF Model Responsible for monetary stability for certain regions of the world. The focus of issues of exchange rates and conditional loans, etc. More directly responsible for currency, and more recently loans for nations in times of economic crisis. oversees the global financial system by observing exchange rates and balance of payments , as well as offering financial and technical assistance. Its headquarters are located in Washington, D.C. , USA . Criticism of the IMF Two criticisms from economists have been that financial aid is always bound to so-called " Conditionalities ", including Structural Adjustment Programs . Conditionalities, which are the economic performance targets established as a precondition for IMF loans, it is claimed, retard social stability and hence inhibit the stated goals of the IMF, while Structural Adjustment Programs lead to an increase in poverty in recipient countries. Typically the IMF and its supporters advocate a Keynesian approach. As such, adherents of supply-side economics generally find themselves in open disagreement with the IMF. The IMF frequently advocates currency devaluation , criticized by proponents of supply-side economics as inflationary . Secondly they link higher taxes under " austerity programmes" with economic contraction . Currency devaluation is recommended by the IMF to the governments of poor nations with struggling economies. Supply-side economists claim these Keynesian IMF policies are destructive to economic prosperity. Wangari Maathai Dr. Wangari Muta Maathai (born April 1 , 1940 in Ihithe village, Tetu division, Nyeri District of Kenya ) is an environmental and political activist . In 2004 she became the first African woman to receive the Nobel Peace Prize for "her contribution to sustainable development , democracy and peace." Dr. Maathai is also an elected member of Parliament and served as Assistant Minister for Environment and Natural Resources in the government of President Mwai Kibaki between January 2003 and November 2005. She is of Kikuyu ethnicity. DSP Market Fundamentalism Market fundamentalism (also known as free market fundamentalism ) is a pejorative term [1] used by sceptics of laissez-faire capitalism to denote an allegedly unjustified belief that free markets provide the greatest possible equity and prosperity, and that any interference with the market process decreases social well being. "Fundamentalists" state that markets tend towards a natural equilibrium, and that the best interests in a given society are achieved by allowing its participants to pursue their own self- interest. [2] Jose Bove Following an appeal from his supporters who got 40,000 signatures, in January 2007, Bové announced he would run in the 2007 French presidential election . He formally declared on February 1 and managed in six weeks to obtain the 500 signatures from elected officials necessary for being a candidate. He says he is fighting for "the people that have no voice". He considers himself to be defending the need
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This test prep was uploaded on 02/20/2009 for the course ILRIC 3330 taught by Professor Turner during the Spring '08 term at Cornell.

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Midterm_review_StudyGuide - IMF Model Responsible for...

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