Lord Larry, 
 Duh Chief Economist

Lord Larry, Duh Chief Economist

The text of this message was posted to the Independent Media Center's web site on April 18, 2000.  The image was posted on the following day.

Here's a World Bank trivia question: Which former Chief Economist for the World Bank, and current US Secretary of the Treasury, made the following incisive statement in a policy memo:

"Just between you and me, shouldn't the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]? I can think of three reasons: 1) The measurements of the costs of health impairing pollution depends on the foregone earnings from increased morbidity and mortality. From this point of view a given amount of health impairing pollution should be done in the country with the lowest cost, which will be the country with the lowest wages. I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that…"

For the other two incisively stated reasons, their powerful "economic logic," and their author, see this article from Counterpunch Magazine.  Here you'll also find a high-quality color image of the author, suitable for downloading, enlarging, and framing…or pinning to your dart board.  You can download and edit it as you chose, or you can use the version below.