Paul Romer is relinquishing oversight of the Development Economics Group, the research hub of the Washington-based development lender, according to an internal staff announcement seen by Bloomberg. Kristalina Georgieva, the chief executive for the bank’s biggest fund, will take over management of the unit July 1.
Pointer from Tyler Cowen. When Romer was appointed, I wrote,
I am not sure that his personality and that institution are meant for one another.
And Paul himself writes,
you can’t say that I didn’t warn everyone
He remains as chief economist.
The transcendence attached to style and editing of WB’s documents reveals that in these days, its focus is writing reports and research papers. Where are the days when it was actually building roads and dams in the jungle? The WB is a fossil, it cannot be reformed, must be closed.