Waiting for Wolfowitz…

The World Bank President blog is back on the job, with all manner of insider dope on the crisis at the World Bank.

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  • Bill

    Cyert and Marsh wrote a paper on agency theory in firms which states that managers manage up to the point and then bring in hidden costs to reward themselves.

    During the Asian financial crisis one constituent part of the World Bank could not talk to another because one used Word Perfect and the other Microsoft Word.

    Any undergraduate who came up with that excuse would be laughed out of the place but because it is Ph Ds acting the idiot it is perfectly acceptable behaviour.

    Get “The Chastening” out od the Library if you want to learn more about this august institution