Debate: Who Should Lead the I.M.F.?
The I.M.F. will need strong leadership as it continues to help euro-area countries deal with massive debt problems. Some think it is time the institution picked a non-European boss.
What's the Latest Development?
The Economist has asked eight guest contributors to weigh in on who should be the new head of the International Monetary Fund. Robert C. McCormack Professor at the University of Chicago Booth School of Business said: "As you do not want the biggest borrowers to be in charge of administering a bank, why do you want a European to be in charge of the I.M.F.? Thus the next managing director of the IMF should definitely not be a European." Gilles Saint-Paul, Director of the Centre for Economic Policy Research, said: "Not a politician. ... First, there must be an arms' length relationship between the director and the member countries, in order to reduce the likelihood of bias in I.M.F. intervention."
What's the Big Idea?
After the resignation of Dominique Strauss-Kahn as head of the I.M.F. on 18 May because of charges that he sexually assaulted a hotel maid in New York, the world's biggest lender is looking for a replacement. Should the next boss be a politician who has the power to sway governments or a bland policy wonk? Should he or she come from Europe or elsewhere? While some think a European leader is necessary to solve the European debt crisis, others don't want to risk any conflicts of interest as member states continue to borrow from the Fund.
We are constantly trying to force the world to look like us — we need to move on.
- When the Berlin Wall fell in 1989, many Americans jumped for joy. At the time, some believed there weren't going to be any more political disagreements anywhere in the world. They thought American democracy had won the "war of ideas."
- American exceptionalism has sought to create a world order that's really a mirror image of ourselves — a liberal world order founded on the DNA of American thinking. To many abroad this looks like ethnic chauvinism.
- We need to move on from this way of thinking, and consider that sometimes "problem-solving," in global affairs, means the world makes us look like how it wants to be.
Scientists make an important discovery for the future of computing.
- Researchers find a new state of matter called "topological superconductivity".
- The state can lead to important advancements in quantum computing.
- Utilizing special particles that emerge during this state can lead to error-free data storage and blazing calculation speed.
French newspapers report that the trial hasn't lived up to expectations.
- The French government initially invested in a rural solar roadway in 2016.
- French newspapers report that the trial hasn't lived up to expectations.
- Solar panel "paved" roadways are proving to be inefficient and too expensive.