Preface ........................................................ xi
Acknowledgments ................................................ xv
1 The world bank and development ............................... 1
Historical Context ........................................... 2
Methodological Framework ..................................... 3
Pars Destruens ............................................ 4
Pars Construens ........................................... 8
2 The currie mission in colombia, 1949-1953 ................... 11
The Importance of the Colombia Mission for the Switch
from Reconstruction to Development .......................... 12
End of the Reconstruction Phase .......................... 12
Initial Contacts Between the Colombian Government and
the IBRD ................................................. 15
The Collaboration Between Lauchlin Currie and the IBRD ...... 22
The Mission Collects Information ......................... 22
Putting the Team Together ................................ 28
The First IBRD General Survey Mission, Colombia 1949 ..... 35
The Currie Mission Report ................................ 39
The Comite de Desarrollo Economico (1950-1951) and
the Consejo Nacional de Planificacidn (1952-1954) ........ 46
The Evolution of the Relationship Between Currie and
the World Bank .............................................. 50
Tensions Within the Comite de Desarrollo Economico ....... 50
The Difficult Beginning of the Consejo National
de Planificacidn (1952-1953) ............................. 53
The End of the Affair .................................... 61
3 Economic development in theory and practice ................. 64
Development Approaches: Balanced Versus Unbalanced Growth ... 66
Balanced Growth .......................................... 67
Unbalanced Growth ........................................ 70
Development Approaches: Program Loans Versus Project
Loans ....................................................... 76
Program Loans ............................................ 77
Project Loans ............................................ 78
The Debate on Development Reverberates Inside the IBRD ...... 79
Conflicting Approaches: Program Versus Project ........... 79
Program Versus Project: The Banks Changing Attitude ...... 80
Autobiographical Notes ................................... 82
Currie Versus Hirschman: Monetary and Fiscal Policy ......... 83
Analyzing the Situation .................................. 83
Hypotheses ............................................... 84
The Clash ................................................ 85
Currie Versus Hirschman: Iron and Steel Production .......... 87
Analysis of the Currie Mission ........................... 87
Interests at Odds ........................................ 90
The "Informe de la Misidn Para el Comite'" and the
Flesher Solution ......................................... 93
Steel and Development: Reasons for Disagreement .......... 98
Changing Alliances ......................................... 103
Agreements and Disagreements ............................ 103
A Sociological Interpretation of the Development
Economics Debate: Robert K. Merton and the "Kindle
Cole" Principle ......................................... 105
4 At the root of the bank's policy advice .................... 112
The Urban Development Plan for Barranquilla ................ 114
Request for IBRD Financing .............................. 114
Why Did the Bank Refuse Financing? ...................... 118
The IBRD and Housing Loans ................................. 120
The ILO Proposal and the First IBRD Comments ............ 120
The Disengagement of the IBRD ........................... 122
Discussions at the Bank: Impact Loans and Social Loans ..... 123
Impact Loans ............................................ 123
Social Loans ............................................ 127
The Bank's Relentless Preference for Directly Productive
Loans ...................................................... 129
Raising Funds in the U.S. Capital Market ................ 130
Wall Street Men ......................................... 131
U.S. Foreign Economic Policy and the Wane of the Neiv
Deal .................................................... 133
The Early Successes of the Bank: An Obstacle
to Change ............................................... 136
Coda: The End of the Debate ................................ 136
The Reorganization of 1952 .............................. 136
Blacks Bank ............................................. 144
Conclusions ................................................... 147
Notes ......................................................... 155
Bibliography .................................................. 185
Index of Names ................................................ 195
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