Tuesday, July 8, 2014

THE WORLD BANK

The World Bank was originally established following World War II to help fight poverty in underdeveloped countries by offering technical assistance, loans, and policy advice.
http://blog.coursera.org/post/64164078376/coursera-partners-with-the-world-bank
The long-term goal over the years has been to ultimately eliminate poverty, and although that is an ideal situation that is wanted by all people, it is very hard to achieve and does not seem to advancing even with the help of The World Bank. I do have to say that I agree with the overall concept of helping underdeveloped countries and I believe that the intention is good but there is also a lot of controversy behind it. One of the big controversies that I would like to address is that as time goes on and some of the nations begin to develop more aid is required causing some countries to accumulate more debt than they can ever pay off. This defeats the overall purpose of the system because although they have been offered aid in the end they are left with a bigger burden to pay off. 
http://theconversation.com/the-truth-behind-our-dangerous-public-debt-levels-13245
This then brings into question whether the purpose of The World Bank is still being served and causes people to consider alternative ways that people can begin to help underdeveloped countries that will help their nations evolve rather than put their real problems on hold.

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