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International Monetary Fund. Communications Department

NEOLIBERALISM IS NOW the go-to moniker for everything that went wrong in the late 20th century and the new millennium. Often a term of abuse, it is a synonym for a crassly materialistic and superficial belief in the inherent superiority of markets. Its standard bearers were British Prime Minister Margaret Thatcher and US President Ronald Reagan.

International Monetary Fund. External Relations Dept.

On October 25, financier and philanthropist George Soros came to the Institute for International Economics in Washington armed with a draft report on globalization and a message: if global markets are to prevail, there must be international institutions capable of sustaining them.

Christine Ebrahim-zadeh

The debate on the merits of globalization continues, with one side arguing that it raises living standards and the other that it worsens poverty and inequality. At a September 22 IMF Book Forum, Martin Wolf, Associate Editor and Chief Economics Commentator at the Financial Times, offered a robust defense of globalization and an upbeat assessment of its prospects. In discussing his new book, Why Globalization Works, he rebutted claims that globalization undermines sovereignty, weakens democracy, intensifies inequality, favors “exploitative” multinational corporations, and devastates the environment.

ZHEN KUN WANG

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund. External Relations Dept.

14–15 2007 Spring Meetings of the World Bank Group and the IMF, Washington, D.C., United States

International Monetary Fund. External Relations Dept.

13–15 Global Forum: Building Science, Technology, and Innovation Capacity for Sustainable Growth and Poverty Reduction, World Bank, Washington, D.C., United States

International Monetary Fund. External Relations Dept.

29 IMF Book Forum, “Is Globalization Here to Stay?” with Jeffry Frieden, author of Global Capitalism: Its Fall and Rise in the Twentieth Century, Washington, D.C., United States

International Monetary Fund. External Relations Dept.

28-March 1 Joint IMF-Africa Institute high-level seminar, “Realizing the Potential for Profitable Investment in Africa,” Tunis, Tunisia

International Monetary Fund. External Relations Dept.

4–6 Institute of International Bankers’ 2007 Annual Washington Conference, Washington, D.C., United States