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Into the New Millennium

Into the New Millennium

(p.207) Chapter Eight Into the New Millennium
Behind the Development Banks
University of Chicago Press

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

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