Dennis Goulet, an anthropologist from the 1970’s once published what he believed was the equation to effective development of a nation: Development = Social Change + Economic Growth. The creation of a “third world” by more economically developed nations inevitably led to initiatives in which programs, like the World Bank and the International Monetary Fund, could inject economic stimulus that was meant to uplift the standard of living and GDP.
Not much has changed since then with the IMF attempting to promote economic growth and baseline living standards into the Losotho Kingdom. The plan to systematically fund infrastructure growth over a period of thirty years is, according to Goulet, going to fail miserably. Without providing the region with the power to create its own agents to affect their living environment, the money given by the IMF will simply serve as a temporary patch.
Another fallacy in the IMF’s plan, according to Goulet, is that the money given to the governments would simply fail if the participation by the local culture was not organic. The implementation of foreign standards for growth and development highlights the ethnocentrism of the IMF’s plan. For example, if the government were to set up a manufacturing plant whose purpose was to provide income and increases in the GDP, it would simply be a waste of money if no one wanted to work there.
These thoughts beg the question, would the locals even want to participate in any type of “economic growth” or is this a front by local governments to get a quick buck?
This is the book containing the Goulet Article: