Thursday, October 29, 2009

File this under: Quote of the day, ideas, bad

In the process of perusing as much literature as possible on global public goods, I came across this gem:

Capacity building in developing countries is critical to achieving the objective of financial stability and market efficiency. The seigniorage earned by the central banks of industrial countries could be an appropriate funding source.

Honestly-- that's exactly how it reads. As a section header, no less.

Just to clarify-- the policy suggestion is to generate seigniorage for the goal of promoting financial stability.


It's from Global Public Goods: Taking the Concept Forward. And who, you ask, published this nugget of wisdom? The United Nations Development Programme, that's who. Let's hear it-- the international development community, everyone!

No comments: