Bretton Wood institutions
3. Bretton Wood institutions have been fiercely criticised in the last two decades. Discus a) what criticisms have not been addressed and b) to what extent there is still a need for Bretton Wood Institutions.
The answer to this question requires:
A discussion of each BW institution ( WB, IMF, WTO). Identification of criticisms and to what extent the criticisms have been addressed by the institutions. The essay should also evaluate to what extent we need the WTO/WB/IMF. If any or all three are needed, then the essay should focus on the identification of aspects that still need to be reformed, explaining why and how. This is an essay requiring evidence of a range of readings for and against Bretton Woods institutions. For the evaluation of WTO you need to acknowledge the debate around TRIPS ( see reading for workshop 8: Legrain, G. ( 2004) ‘Patently Wrong: How Global Patent Laws Harm the Poor and the Sick’, Chapter 10 in Legrain ( 2004) Open World, pp. 254–269
Key authors: Rich & Lateef (READINGS FOR WORKSHOP 3). Legrain (workshop 8), Stigliz and Peet.
Stiglitz, J ( 2002) Globalization and its Discontents, London: Penguin (chapters about the “way forward in Globalization and its discontents),
Stiglitz, J ( 2007) Making Globalization Work: The Next Steps to Global Justice, London: Penguin, 2007
Peet, The Geography of Power: the making of global economic policy ( Oxford University Press, 2008) ( One chapter included in the reading package for WS3)
R. Peet, Unholy Trinity, The IMF, World Bank and WTO, (London: Zed Books, 2003)