Kudlow’s Money Politics

Yank the Bank

George Will absolutely blasts the World Bank in his latest column. Will is dead right. We don’t need the World Bank. On top of the billions of dollars in waste and corruption, private capital markets are much more efficient.

From Will’s column:

The kerfuffle over whether Paul Wolfowitz, the World Bank’s president, behaved badly regarding the contract for his companion to facilitate her departure from the bank involves no large issue. The bank’s existence does. The bank’s rationale, never strong, has evaporated.

Born in 1944, at the apogee of confidence in governments and international governmental organizations, the bank’s mission is ”to fight poverty with passion and professionalism.” The great prerequisite for curing poverty is, however, economic growth, and the world has learned, during a 63-year retreat from statism, that the prerequisite for growth is free markets allocating private capital to efficient uses…

Larry Kudlow is the author of JFK and the Reagan Revolution: A Secret History of American Prosperity, written with Brian Domitrovic.

Most Popular

White House

The Damning Inspector General’s Report

It is hard to believe that the run-up to the presidential-election year has plumbed such a depth of farcical degradation. It must be that Trump’s influence has contributed to unserious responses, but he can’t be blamed for the unutterable nonsense of his opponents and the straight men of the political class ... Read More
White House

The Damning Inspector General’s Report

It is hard to believe that the run-up to the presidential-election year has plumbed such a depth of farcical degradation. It must be that Trump’s influence has contributed to unserious responses, but he can’t be blamed for the unutterable nonsense of his opponents and the straight men of the political class ... Read More
Elections

Diversity Panic Hits the Democratic Field

Stop me if you’ve heard this one before. An Asian guy, two black guys, three white women (one of whom spent much of her life claiming to be Native American), a Pacific Islander woman, a gay guy, a Hispanic guy, two elderly Caucasian Jews (one a billionaire, the other a socialist), a self-styled Irishman, and a ... Read More
Elections

Diversity Panic Hits the Democratic Field

Stop me if you’ve heard this one before. An Asian guy, two black guys, three white women (one of whom spent much of her life claiming to be Native American), a Pacific Islander woman, a gay guy, a Hispanic guy, two elderly Caucasian Jews (one a billionaire, the other a socialist), a self-styled Irishman, and a ... Read More
World

Present at the Demolition

Economists at the World Bank and International Monetary Fund must feel pretty lucky these days. They work for just about the only institutions set up in the aftermath of World War II that aren't in the middle of an identity crisis. From Turtle Bay to Brussels, from Washington to Vienna, the decay of the economic ... Read More
World

Present at the Demolition

Economists at the World Bank and International Monetary Fund must feel pretty lucky these days. They work for just about the only institutions set up in the aftermath of World War II that aren't in the middle of an identity crisis. From Turtle Bay to Brussels, from Washington to Vienna, the decay of the economic ... Read More
World

Well . . . .

So much for my prophecies of doom. Britain's Conservatives won, and they won with a very healthy parliamentary majority, breaking through Labour’s “red wall” across the industrial (and post-industrial) Midlands and the North. The BBC: Leave-voting former mining towns like Workington, which was seen as ... Read More
World

Well . . . .

So much for my prophecies of doom. Britain's Conservatives won, and they won with a very healthy parliamentary majority, breaking through Labour’s “red wall” across the industrial (and post-industrial) Midlands and the North. The BBC: Leave-voting former mining towns like Workington, which was seen as ... Read More
World

The U.K. Elections Were the Real Second Referendum

In the end, it wasn’t close at all. Jeremy Corbyn’s Labour party met a fate to which it has been accustomed for most of the last half-century. Once again, the British roundly rejected socialism. Boris Johnson and his conservatives will form the next British government. This was no slight rejection. Labour ... Read More
World

The U.K. Elections Were the Real Second Referendum

In the end, it wasn’t close at all. Jeremy Corbyn’s Labour party met a fate to which it has been accustomed for most of the last half-century. Once again, the British roundly rejected socialism. Boris Johnson and his conservatives will form the next British government. This was no slight rejection. Labour ... Read More
White House

The Costs of Trivializing Impeachment

Resorting to a vague “abuse of power” theory, the House Judiciary Committee Friday morning referred two articles of impeachment to the full House on the inevitable party-line vote. The full House will impeach the president next week, perhaps Wednesday, also on the inevitable party-line vote. The scarlet ... Read More
White House

The Costs of Trivializing Impeachment

Resorting to a vague “abuse of power” theory, the House Judiciary Committee Friday morning referred two articles of impeachment to the full House on the inevitable party-line vote. The full House will impeach the president next week, perhaps Wednesday, also on the inevitable party-line vote. The scarlet ... Read More