Reforming the World Bank

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The World Bank was founded in 1944 mainly as a way to help Europe rebuild after the Second World War, and it has since become the premiere agency for aiding developing countries. But critics began to say that the World Bank's rigid economic formulas failed to take into account the societal differences of those it served, that its projects were ecologically harmful, and that despite aid, billions of people were still lacking access to food, clean water, and education-but were now in debt to more powerful nations. The World Bank expanded its mandate to address these concerns, but has there been measurable change? In this program Hazel Henderson discusses the World Bank's focus on the noneconomic aspects of development with former IMF chief economist Kenneth Rogoff; Sakiko Fukuda-Parr, director of the UN's Human Development Report; and independent economist John Perkins. The panel also discuss immigration and the considerable economic impact of remittances.