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I’ll take the Korean guy with the sense of humor and a history in development over another crotchety old white guy in a Wall Street pressed suit. – ZIF
Ah, the World Bank. What is must be like to be tasked with literally throwing money at the world’s “problems”. There is little secret that the U.S. has first dibs when it comes to choosing who leads the heavily American funded World Bank. Last week, President Obama nominated Dartmouth University President Jim Yong Kim for the top job at the Bank. The nomination has come under heavy fire, with right-leaning economists and conservative pundits alike calling into question the experience that Dr Kim brings to the table. In essence, Kim is hardly a “money” guy, the medical doctor and academic power figure has a lot of experience with development and in that sense many are calling this choice inspiring. The fact is, the World Bank has an outflow of about 40-60 billion dollars per annum, contrast that with the 1 trillion dollars in global private capital flow, simple math suggests an increasingly smaller role for the World Bank. Read more about this at the WSJ. On the academic flip side, Dartmouth is losing a hell of a leader, one that had no problem getting his pseudo-rock star on at last years Dartmouth Idol event. Here’s hoping for that paradigmatic shift.