The World Bank or Polanyi: Markets, Poverty and Social Well-being in Latin America

2002 ◽  
Vol 7 (2) ◽  
pp. 199-219 ◽  
Author(s):  
Peadar Kirby
Author(s):  
Shelton H. Davis

AbstractThis article traces the evolution of the World Bank policy on indigenous people. In 1982, the World Bank issued a brief operational policy statement which outlined procedures for protecting the rights of so-called “tribal people” in Bank-financed development projects. Experience has shown, the World Bank directive stated, “that, unless special measures are adopted, tribal people are more likely to be harmed than helped by development projects that are intended for beneficiaries other than themselves. Therefore, whenever tribal peoples may be affected, the design of projects should include measures or components necessary to safeguard their interests, and, whenever feasible, to enhance their well-being.” This protectionist approach emerged from the Bank’s experiences primarily in Latin America where there are well-rooted historical and legal antecedents. Over time, however, the Bank’s approach has evolved to reflect the diversity of indigenous cultures, with more of an emphasis on informed engagement and expanding access to benefits from development rather than on protection alone.


1999 ◽  
Vol 354 (1392) ◽  
pp. 1943-1948 ◽  
Author(s):  
James D. Wolfensohn

By many people, the 20th century will be remembered as an era of great achievement in human endeavour, and of enormous economic growth and prosperity. Achievements in medical research, from eradicating infectious diseases to laser surgery; in engineering, from the transistor to space exploration; and in economic development have all contributed to greater well being in the world at the end of the 20th century. Among the challenges to development identified by the World Bank in the coming decades will be managing the twin processes of globalization and localization, as well as post–conflict reconstruction. These will form the backdrop of the Bank's main focus of creating a world free of poverty.


Author(s):  
Subrata Mukherjee ◽  

In 2006, Muhammed Yunus and the Grameen Bank received the Nobel Peace Prize for their efforts through micro-credit to create economic and social development. Muhammed Yunus received the prize not in the field of economics because only sustainable development of the proletariat and the marginalised sections of society can bring peace. More than 80% of the world’s population lives in countries where income differentials are widening. The poorest 40% of the world’s population accounts for 5% of global income, while the richest 20% accounts for three quarters of world income. According to the World Bank (WB), the proportion of people in the developing world living on less than $1.25 a day was 20.5% in 2010, down from 43.1% in 1990 and 52.2% in 1981 (in 2005 prices). That is 1.22 billion people lived on less than $1.25 a day in 2010 compared with 0.91 billion in 1990 and 1.94 billion in 1981. In this paper an attempt is made to explain the relevance of Marxism and the need for the co-operative movement to assist in providing a means for social well-being of the downtrodden classes of people. Keywords: Economy and social development, sustainable development, Marxism


Author(s):  
Subrata Mukherjee ◽  
Manoranjan Das

In 2006, Muhammed Yunus and the Grameen Bank received the Nobel Peace Prize for their efforts through micro-credit to create economic and social development. Muhammed Yunus received the prize not in the field of economics because only sustainable development of the proletariat and the marginalised sections of society can bring peace. More than 80% of the world’s population lives in countries where income differentials are widening. The poorest 40% of the world’s population accounts for 5% of global income, while the richest 20% accounts for three quarters of world income. According to the World Bank (WB), the proportion of people in the developing world living on less than $1.25 a day was 20.5% in 2010, down from 43.1% in 1990 and 52.2% in 1981 (in 2005 prices). That is 1.22 billion people lived on less than $1.25 a day in 2010 compared with 0.91 billion in 1990 and 1.94 billion in 1981. In this paper an attempt is made to explain the relevance of Marxism and the need for the co-operative movement to assist in providing a means for social well-being of the downtrodden classes of people. Keywords: Economy and social development, sustainable development, Marxism


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