Chapter

Into the New Millennium

in Behind the Development Banks

Published by University of Chicago Press

Published in print June 2009 | ISBN: 9780226033648
Published online March 2013 | e-ISBN: 9780226033679 | DOI: http://dx.doi.org/10.7208/chicago/9780226033679.003.0009
Into the New Millennium

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This chapter examines the developments in U.S. multilateral development bank (MDB) policy during the George W. Bush administration and argues that, the spectacular rise and fall of Paul Wolfowitz at the World Bank aside, the Bush team's policies were mostly quite continuous with the past. It also reviews the main arguments of the book and their implications for the future of the MDBs. The foreign policy program, neoliberal economic policy program, performance-based management, and compassionate conservatism are the four elements of the Bush administration's overall policy program that were significant in shaping its MDB agenda. Increased congressional interest in the MDBs made the United States into the banks' leading activist shareholder. Through an application of the principles of transparency and accountability to MDB shareholders, the banks could become more responsive to the publics around the world that are affected by their ideas and activities.

Keywords: George W. Bush; Paul Wolfowitz; World Bank; foreign policy program; neoliberal economic policy program; United States; compassionate conservatism

Chapter.  11372 words.  Illustrated.

Subjects: Political Economy

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