Oh, please! As if primarily Western economic "science" and banking establishment are not utterly corrupt. The whole thing is the institutionalized BS for the consumption of yuppies with BS (or BA, whatever) in "economics" from Ivy League madrasas.
WASHINGTON (AFP) - Nobel Prize-winning economist Paul Romer said the current head of the International Monetary Fund, in her previous senior role at the World Bank, engineered a "whitewash" of his concerns surrounding the bank's flagship report. In an interview with AFP on Thursday (Sept 16), Dr Romer said there was a "lack of integrity" among the World Bank leadership, including then chief executive Kristalina Georgieva. Earlier in the day, the World Bank announced it was immediately discontinuing its Doing Business report after an independent investigation commissioned by its board found irregularities in the 2018 and 2020 editions and concluded that Ms Georgieva pressed staff for alterations to avoid angering China.
There is absolutely nothing, zilch, nada unexpected about this whole thing. The report continues:
But "I had some suspicions that things like this might be going on". Dr Romer resigned from his post as chief economist in January 2018 after he went public with his concerns about how the bank made "arbitrary" alterations to the methodology that drastically changed rankings for some countries, notably Chile. He said the changes lowered the rankings under Chile's socialist leader Michelle Bachelet, but raised them under her more conservative successor President Sebastian Pinera.
Well, duh! Just to demonstrate what a contrived piece of shit Western economic "science" is, here is an example--the mental excrement from yuppies from Harvard, their "laboratory" where those ignoramuses analyze, strategize, conceptualize and drinkalize their lattes. Behold, rankings of "economic complexity" concocted by "economists" from the US "leading" university:
complete range of mining and extractive industries producing coal, oil, gas, chemicals, and metals; all forms of machine building from rolling mills to high-performance aircraft and space vehicles; defense industries (including radar, missile production, advanced electronic components), shipbuilding; road and rail transportation equipment; communications equipment; agricultural machinery, tractors, and construction equipment; electric power generating and transmitting equipment; medical and scientific instruments; consumer durables, textiles, foodstuffs, handicrafts.
Yes, the country which produces spaceships, nuclear ice-breakers and pretty much everything else has "economic complexity" less complex than that of Slovenia (again, nothing personal against this fine and lovely country), or lovely (sincerely) Slovakia. Remarkably, these cretins from Harvard placed even the United States, in terms of complexity, below Slovenia. Yes, these agonizing and deindustrializng United States of America which still produce a lot of complex machinery, commercial aircraft (some of them outstanding), electronics and cars. Yes, these United States, and yet the US still fails to beat Slovenia in terms of economic complexity. Moreover, lest we forget--IMF, World Bank, Harvard, CIA, America's think-tankdom et all are ALL American organizations, founded and funded by the US and it is on America's dime that these "reputable" (among yuppies) organizations, decade after decade, produce statistics and "analysis" which has to be studied by psychiatrists as acute cases of clinical delusion. It is this delusion which is behind America's precipitous (in historic terms) decline.
But in the end, the rule is as old as humanity itself: the one who dines and wines the girl, this one also dances this girl. Simple as that. Pay me enough money and I can prove with numbers that the United States won in Vietnam. In fact, such school of thought does exist and prospers. There is school of thought which states that Wehrmacht actually defeated the Red Army in WW II. These are mental constructs which are very close, in fact adjacent to the Western economic "science" and "scientists" who wouldn't know the difference between steal and steel, and can barely know shit from shinola. I would suggest the introduction of a new category for such a useless BS Nobel Prize, such as in literature and economics--the most useless economic index of them all. And, indeed, why not write some Ph.D thesis on correlation between Walmart shoppers weirdness and credit rating of Spain. Introducing this very weirdness index. I am sure you can measure it.