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Quote by Dipti Dhakul

“Rupee is Falling → Strengthen exports, reduce dependence on imports, and attract foreign capital through policy stability.”

Quote by Dipti Dhakul

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Dipti Dhakul

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“I became convinced that the advanced industrial countries, through international organizations like the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank, were not only not doing all that they could to help these [developing] countries but were sometimes making their life more difficult. IMF programs had clearly worsened the East Asian crisis, and the "shock therapy" they had pushed in the former Soviet Union and its satellites played an important role in the failure of the transition.”

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Book:Making Globalization Work
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“Once you understand the process of corporate globalization, you have to see that what happened in Argentina, the devastation of Argentina by the IMF, is part of the same machine that is destroying Iraq. Both are efforts to break open and to control markets. And so Argentina is destroyed by the chequebook, and Iraq is destroyed by the cruise missile. If the chequebook won't work, the cruise missile will. Hell hath no fury like a market scorned.”

IraqGlobalizationArgentinaCorporate WorldImf
Book:The Checkbook and the Cruise Missile: Conversations With Arundhati Roy
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“Under the rules of the Western-run international economy, investors make loans to third world tyrannies, and since the loans carry considerable risk, make high profits. Suppose the borrower defaults. In a capitalist economy, the lenders would incur the loss. But existing capitalism really functions quite differently. If the borrowers cannot pay the debts, then the IMF steps in to guarantee that lenders and investors are protected. The debt is transferred to the poor population of the debtor country, who never borrowed the money in the first place and gained little if anything from it. The method is called “structural adjustment.” And taxpayers in the rich country, who also gained nothing from the loans, sustain the IMF through their taxes. These doctrines do not derive from economic theory; they merely reflect the distribution of decision-making power.”

PowerCapitalismEconomicsNeoliberalismFree Market CapitalismImfStructural Adjustment
Book:Hopes and Prospects
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“Peace, Inc., is sometimes as worrying and War, Inc. It's a way of managing public anger. We're all being managed, and we don't even know it. The IMF and the World Bank, the most opaque and secretive entities, put millions into NGOs who fight against "corruption" and for "transparency." They want the Rule of Law--as long as they make the laws. They want transparency in order to standardise a situation, so that global capital can flow without any impediment. Cage the People, Free the Money. The only thing that is allowed to move freely--unimpeded--around the world today is money, capital.”

CapitalismFree MarketWorld Bank
Book:Things that Can and Cannot Be Said: Essays and Conversations
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“According to Robert S. McNamara, former president of the World Bank, without firm action to further reduce the population growth rate, world population will not stabilize below eleven billion. "At the national level," states McNamara, "rapid population growth translates into a steadily worsening employment future, massive city growth, pressure on food supplies, degradation of the environment, an increase in the number of 'absolute poor,' and a stimulus to authoritarian government.”

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Book:Christ's Victorious Kingdom
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“This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new economic history." A man does what he can, and in the more elegant - one is tempted to say "fancier" - techniques I am, as one who received his formation in the 1930s, untutored. A colleague has offered to provide a mathematical model to decorate the work. It might be useful to some readers, but not to me. Catastrophe mathematics, dealing with such events as falling off a height, is a new branch of the discipline, I am told, which has yet to demonstrate its rigor or usefulness. I had better wait. Econometricians among my friends tell me that rare events such as panics cannot be dealt with by the normal techniques of regression, but have to be introduced exogenously as "dummy variables." The real choice open to me was whether to follow relatively simple statistical procedures, with an abundance of charts and tables, or not. In the event, I decided against it. For those who yearn for numbers, standard series on bank reserves, foreign trade, commodity prices, money supply, security prices, rate of interest, and the like are fairly readily available in the historical statistics.”

EconomicsFinanceStatisticsEconometrics
Book:Manias, Panics, and Crashes: A History of Financial Crises
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