03-02-2013 | Jungle Rules
Some curious and remarkable verbiage from IMF Working Paper 00/187:
"The strong seek their self interest without inhibitions of conscience, while the weak have no means of resistance."
"The intention here is not, however, to pass judgement based on ethics. The purpose is, rather, to examine the economic consequeces of the unethical exercise of authority. Societies where the strong behave unethically can be shown to be inefficient and the cost of those inefficiencies are borne exclusively by the weak. The strong have no personal incentive to respond to proposals for programs to correct the inefficiencies. Policy advice is therefore ineffective."
"It is inconsequential whether the weak are ethical because the weak cannot take from the strong."