Obama’s Pick for World Bank Hates Capitalism

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And that progress is truly impressive. In 1990, 52 percent of the population in the developing world lived below the poverty rate of $1.25 a day. That number was halved by 2008, when 22 percent lived below the poverty rate. Progress has been most dramatic in East Asia, particularly China, which has seen the greatest surge in economic growth. In the 1980s, according to the World Bank report, East Asia had the world’s highest poverty rate, with 77 percent of the population living below the poverty rate as recently as 1981. By 2008, that number had plunged to 14 percent. The report points out that in China alone, 662 million people are no longer living poverty. Not only is no one “dying” due to economic growth, but literally millions of lives have been bettered thanks to economic gains.

China may be the most spectacular example of economic growth’s unmatched capacity to improve the lives of the poor, but it is not an exception. Africa, so long associated with extreme poverty, is also making strides on poverty reduction thanks to economic growth. In a 2010 study, economics professors Maxim Pinkovskiy and Xavier Sala-i-Martin found that, as a result of sustained economic growth over the past 15 years, Africa has experienced a consistent decline in poverty – so consistent that, if trends hold, Africa could reach the United Nations’ Millennium Development Goal of halving the number of people earning less than $1 a day between 1990 and 2015 by next year, two years ahead of schedule.

Africa’s success is especially noteworthy because it has not been limited to countries with natural resources, such as South Africa’s diamonds or Nigerian oil. On the contrary, the authors note that poverty has fallen “for both landlocked and coastal countries, for mineral-rich and mineral-poor countries, for countries with favorable and unfavorable agriculture, for countries with different colonizers, and for countries with varying degrees of exposure to the African slave trade. The benefits of growth were so widely distributed that African inequality actually fell substantially.”

Poverty reduction through economic growth is thus one of the great success stories of recent decades. And that work is not done. Even with the recent rate of economic progress, an estimated one billion people across the world will still live on less than $1.25 per day in 2015. Achieving sustained reduction in poverty will remain the great cause of the 21st century.

Yet it’s hard to see how the World Bank will help that cause if led by an open critic of economic growth like Jim Yong Kim. The bank doesn’t lack its critics, to be sure, and there is considerable debate about whether the institution is really effective. But it’s hard to see how its reputation will be redeemed by a World Bank president who seems to believe that the greatest danger to the global poor comes from the only proven strategy to improve the quality of their lives.

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  • truebearing

    How much evidence do Americans need before they accept that Obama is a Marxist, and is actively working to subordinate the United States to an internationalist, aka communist, world government?

    The poor has never been a problem for Marxist regimes in the past. When they have people problems, they employ procrustean method and viola, less people to cause problems. With the addition of Environmental religion to the left's repitoire of rationalizations, negative eugenics has a bright future. instead of eliminating poverty they will eliminate the poor. Margaret Sanger would be proud. Environmentalism justifies the elimination of millions of humans on "scientific" grounds, and things like universal health care provide mechanisms for situational eugenics, where people will die in droves from denied care. "Health Care" is the ironic cover for statist Kevorkian Care, which will "take care of" the poor. Conservative, Christian, Jewish, capitalist "poor" will see a marked increase in mortality if these ghouls succeed.

    • LibertyWriter

      I have all the evidence I need.

  • Chris C

    I’m sure the powers that be won’t acknowledge the existence of that report. Ruins their narrative or wealth distribution being the only cure for poverty.

  • Anamah

    Communist best capital is poverty. They produce and hijack poor allowing its vicious circle to go on for demonstrative purposes. They never solve or improve but create dependency, they use the poor as demagogues lure while creating a system where wings are cut and no one dares to dream of creating wealth. We watch advertising from all over the world organizations asking for donations showing appalling poverty and stunted children, always from countries under socialist governments. … never from conservatives. In many countries in Africa or Latin America where people feel a visceral disdain for capitalism an unexplainable but deep contempt for USA commies always often bear the sins of others.


    This is the scariest article I have ever read! I truly am
    terrified if O’Bama gets re-elected just like he told the Russians
    he feels he will beable to put into action EVERY FAR LEFT
    principle he holds dear…And just like this professor from
    Dartmouth They of course would never live under the rules
    they DEMAND others to live under !!This article should be
    on the front page of every news paper out there but of course
    it won’t be and many of these same journalist who have
    Refused to do a truthful account of this administration will be
    the first to scream ” what is happening” when O’Bama begins
    in his 2nd term to sign orders that only certain news org. will
    be allowed to continue to operate! Wake up America, this great
    country of ours is just 1 election away from disappearing!!!

  • http://jc.does-it.net Geneww

    Folks, if you are not in the top of the 1%, who control this world, you will fall under a One World government that every president [and those who were their final apponents] since FDR endorsed. The UN will replace the constituion. Hillary's small arms control treaty [to be ratified during our next fabricated crisis] will eliminate the 2nd amendment. Maybe, it too late to wake up before it is too late.

  • Schlomotion

    "Indeed, it might well have been written by Chomsky, which in fact it was: the author is Aviva Chomsky, Noam Chomsky’s eldest daughter."

    Noam Chomsky and Aviva Chomsky are the same person?
    Are Irving Kristol and William Kristol the same person?

  • Wingnut

    Some make it sound like knowing that capitalism is a disgusting servitude-infested pyramid scheme… is somehow radical. Its not. See google image search for 'pyramid of the capitalist' (made in 1911). Just a quick glance at capitalism makes it easy to see that its a worthless rat-racing system. See the Columbian freemason pyramid scheme symbol on the back of the USA dollar? See the USA gov located in a district of Columbia and not part of the USA proper? See the MASSIVE amounts of monetary discrimination, and the rampant Chicaco mob-like "pay up or lose your wellbeing" felony extortion… in capitalism? See the "Join the Free Marketeers or DIE/STARVE" (get a job or starve) felony extortion and forced religion into a competer's church… done to the USA 18 year olds? Sure ya do. Share share shae until you are 18 years old, then policy reversal to fight fight fight! Nice. Moronic!

    Capitalism is a con/sham, and always has been. Anyone with even the slightest bit of horse sense… learned about pyramiding from the playgrounds as children. They ALWAYS collapse from too much get-a-leg-up top heaviness… and crush the exploited stalwart children on the bottom layers. Most of us easily see how pathetic capitalism's pyramiding is, and have LONG known. What's radical about THAT? We know ALL ABOUT capitalism. We want it gone… and hurry.

    MaStars – Mothers Against Stuff That Ain't Right
    Anti-capitalism-ists – System fighters, not role-playing people fighters
    Bessemer MI USA

    • Stephen_Brady

      You obviously don't live in the US. My mother's family were farmers. My father was a master mechanic. My sister, my brother, and I, have done exceedinly well in the capitalist system (I make six figures per year, in spite of the fact that I'm 1.2 Comanche … I thought racism was supposed to keep me down. Interesting.).

      Without captialism, Americans will be told … by the government … what we will do with our lives. You probably hope to be part of that government. But you will not get rid of capitalism without a fight. We will fight you in the area of ideas and politics. Failing that, millions of us will take up the sword and bring you down.

      BYE …

      • Wingnut

        You're being controlled NOW. Do you see multiple types of survival coupons (money) available for use (legal tender), or JUST free marketeer greenbacks? Duh? If you're using greenbacks and green (en)titles of ownership, you're marching for one single org. See any Amish bluebacks or Catholic redbacks or Lutheran yellowbacks or Mennonite blackbacks? Nooooo. You caps are "on the snort" from ONE giant organization which IS already controlled by gov and 'golden circle' families. You're owned. Bought in. Good little marchers. On the snort, and apparently quite proud of your worshiping of false idols.

        Get off the junk/juice. Your family has done exceedingly well… at climbing aboard an addiction and a church-of-competing. Not something to be proud-of… but paint it up with sugar-coated goodness if it turns your faucets. Ya got conned… and so did your kin. You're marching in an "order"… rat-racing up the sides of a pyramid scheme… staying in-line. S&H greenstamps and S&H greenstamp redemption centers apparently has the EXCLUSIVE on survival supplies in YOUR narrow realm. But, now we're talkin' FM greenbacks, and S&H greenstamps might have been before your time. You DO understand when a single org gets "the exclusive" on being "your ONE STOP" for legal tender survival certificates… used to get past the blockades on survival supplies called "price tags", right? C'mon, you can get this. Drop the "yea America" pride crap and the hatred of communalism/communities/communes for just a moment, and lift your head out of the snort. This isn't that difficult to comp. Lift out of the snort powder, grab some fresh air, and a fresh perspective.


        • flimflamobambam

          Refresh my memory…this communism thingy has worked out so well…where?

      • WilliamJamesWard

        It looks like that more so every day. Obama appointing a Communist who has no American
        values makes it clear a Communist takeover has happened and growing in strength, last
        move for them is to declare the upcoming elections off or void. Nothing is beyone what
        Obama may do, we can expect anything………………….William

    • Hank Rearden

      It's always embarrassing to watch a Lefty try to have an idea. One doesn't know where to look. Nice touch about Chicago mob-like behavior. Errr…you are referring to the Cook County Dems, right? And their offspring in Washington? You don't have to buy influence to get an iPhone. Have you ever wondered why that is? Why the grocery store shelves are so stocked that the problem is merchandise falling on the floor?

      Oh, and that Cuba health system. Exactly which dirt-floor local clinic was it that Castro was treated in?

    • Peter


      There are two ways to motivate people, via a contract freely entered into by both sides (Employment) or coercion, which is a mark of Socialist/Communist regimes. The word “Gulag” is not a capitalist word, the word “reeducation camp” is not a capitalist word, the horrors of the Socialist/Communist Left are counted in Mountains of bodies. Please see: Rommel book, “The Black Book of Communism”.

      However, if you can come up with a better system and implement it somewhere, PLEASE DO. Perhaps Haiti or Vermont or Cuba. But do not spout off about the evils of Capitalism over the rotting bodies of the dead in Communist China or Cambodia or the former Soviet Union without offering an alternative system, a system I might add that is as old as the Sumerians.

      Again, put forward a system that works in more than just your mind, for again there are only two ways to motivate people, pay or coercion. One is imperfect and one is slavery.


      • Wingnut

        You are missing "Treehouse Teaming", Peter. Haven't you ever seen a group of neighborhood dads get together with no bosses, no wages, and only a spear-header with a wild plan and the potential for a whole lot of enjoyable work… as motivation? Forgot that one, eh? C'mon, get onboard here.

        Also, the USA military supply system is a type of commune… using requisition forms instead of money, and the USA public library system is also a commune. See any monetary discrimination… or ANY discrimination in either? Nooo. See any fear of not getting survival supplies in the USA military? Nooo. Civilian side? RAMPANT FEAR! Notice how the military takes care of each other because WHY? Because they are all on the same team… very much like Treehouse Teaming. Everyone gets food, everyone gets healthcare, everyone gets basic survival supplies because… the military KNOWS… that to damage one member of TEAM… hurts ALL members of TEAM.

        Peter… next time… before you go shooting wildly and aimlessly… look around. Great working communes are happening all over the place… and so are motivations that don't come from money or other lure-dangling fishing techniques. C'mon. i don't see many 18 year olds "freely" getting to choose their type of money or "free" to join a cooperator's church instead of a competer's church. There's NOTHING "freely" in capitalism… not a friggin' thing… not even close… ESPECIALLY for the severely railroaded (extorted and forced-religion'd) 18 yr olds. Its a giant herd control system… join it OR STARVE… OR DIE… OR ELSE! Nice freedom! (yeah right)

        • Clear-Reality

          Calm down! Take a deep breath and find your way back to reality…

    • LibertyWriter

      You have two people who want to trade what they have. Capitalism is freedom to make the trade. Socialism is a third person deciding who gets what.. It's OK I guess, if you are the third person but not so much if you are one of the two.

      The real problem though is when the third person tells the other tow they can't do what they want. Usually the other two just says "Up yours," which is historically what happens.

  • Looking4Sanity

    After being subjected to 4 years of the "black man's revenge", I think it fair to say that it will be a VERY long time before another black man gets elected President of this country. Hopefully, the same will apply to ALL radical liberals and Leftists…regardless of color.

    • Indioviejo

      I believe Rep.Allen West is lookingh pretty good. Bite your tongue.

      • Looking4Sanity

        You miss the point entirely. West will never garner the black vote because the black community will see him as an "Uncle Tom"…and there will be enough resentment and prejudice in the conservative community because of Obama to make his election a questionable proposition for the foreseeable future. It has nothing to do with his positions or qualifications.

    • LibertyWriter

      Still looking? <grin>

      get back with me

      • Looking4Sanity

        Seein' none in you so far. Wink, wink. Call me when you get some.

        • LibertyWriter

          You seen Navy Gentleman lately?

  • political_vacuum

    Re: "Obama’s Pick for World Bank Hates Capitalism."

    That's just big Boogers!

  • Patriot2Opine

    That can't be. Obama nominates an anti-capitalist for a position heading the bank that provides loans to countries based on their political structure, human rights, and ability to repay. Sort of fits with the communist agenda to bring down the one thing that truly is responsible for advancing the human condition world wide. But who am I to judge?

  • DogsHateRomney

    Re: "Obama’s Pick for World Bank Hates Capitalism…".

    Kato, my little yellow friend, I am home! ~ Peter Sellers.

  • Stephen_Brady

    "Obama’s Pick for World Bank Hates Capitalism"

    Of course, he does. Look at the guy who nominated him.

  • Nobody Important

    Mr. Laksin's citation of the World Bank's recent report on the 3rd World's steady poverty decline over the last 30-odd years – thanks not to redistribution of the wealth of 1st World nations but to the creation of wealth from within the 3rd's own world is profoundly illuminating. That B.O. wouldn't have the slightest clue that the report even exists, let alone what it reveals, comes as no surprise to those who have watched him carefully over his recent, meteorically-risen public life – especially those who have watched in stunned amazement as he has appointed numerous unapologetic socialists, communists and even Islamists to positions of great power. This is the real Barack Obama, revealed by his appointees (and utterly ignored by the MLM).

    Readers interested in a fairly detailed set of citations regarding B.O.'s various radical and even anti-American appointees are invited to visit Another Slow News Day's blog pages devoted to the topic.

    Access to the many Appointees sub-topical pages can follow ASND's Update Topics / Barack Obama / Obamappointees menu tree branches to the respective topically-collated pages.

  • http://crockettlives.wordpress.com/ Bob Mack

    Dr. Kim’s endorsement of a radical Harvard group may not be meaningful. But Obama put him in charge of the purse strings at the World Bank for a reason. Denial ain’t just a river in Egypt, and Barack Obama ain’t just another president.

  • WilliamJamesWard

    What does the move portend, a value shift in American currency, the dollar may very well be on it's
    way out and the Yuan goes in as a standard of international value and exchange. This can not be a
    good thing and the continuing attack on capatalism is and attack on our future, how mush damage
    will Obama get away with before he is thrown in prison for multiple crimes in undermining the
    entire Nation…………………………………………..William

  • mlcblog

    More damages by O's administration.

  • Dennis D

    Kim won't try to destroy capitalism because Dartmouth's Endowment depends on all the capitalist graduates being little ATMs for the administration. But he is leftist tool.