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More generally, sound fiscal policy, characterized by low debt levels is an important buffer against exogenous shocks. Second, countries should implement macro prudential policies in order to limit or mitigate systemic risk. Finally, countries should diversify their production and exports base in order to have more alternative sources of revenues allowing them to deal with the volatility of commodity exports related revenues. Note: IMF Working Papers describe research in progress by the authors and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the authors and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. While many banking skills are transferable across national borders, there are institutional and cultural impediments to overcome.


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Of greatest interest to me is the movement from a modernist to a postmodernist view of physical reality see What Went Wrong: Postmodern Thought and Physical Therapy Practice at . Many feel that this has resulted in a movement toward the acceptance of supposedly therapeutic practices that are not supported by any rational theory. Predictably, their proponents advocate a reliance on intuition, positive energy, ancient knowledge, and other similar entreaties to faith and belief. The technique proposed is typically claimed to require many years and many expensive continuing education courses to perfect and the deep model of its theoretical construct when one is offered is compiled from obscure, esoteric and questionable research well out of the medical mainstream. Not surprisingly, the nontraditional nature of the technique and theory are proposed to be a positive aspect of the therapy, considering the corrupt, close minded, and prejudicial nature of modernist science. Given that physical therapists are college graduates, and assuming that physical therapy programs do, at least to some extent, teach the principles of modern scientific inquiry heck, high schools do this, you wouldnt expect the profession to easily accept any sort of care that contained all the attributes listed above. You would expect resistance from the academic community, written commentaries from the professions theorists and clinicians regarding the dangerous nature of using any modality of care that could not possibly do what it proposed to do, and, eventually, a dissipation of the modalitys popularity over time. This has been a recurrent cycle of response, witnessed during my career at least, and I never anticipated that anything else would happen when techniques without reasonable theory appeared. I was wrong. I was wrong about a certain form of irrational therapy because I had not taken into account three things; the neediness of many in the profession, the influence of postmodern thought in our culture, and the power of charisma. All of these have combined to perpetuate a method and theory of management that makes no real scientific sense and is, arguably, quite dangerous.



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Eleven percent of children are now diagnosed with Attention Deficit Hyperactivity Disorder ADHD, and three quarters of them are placed on potent psychotropic medications for what Boston College psychology professor Dr. Peter Gray describes as a failure to adapt to the conditions of standard schooling. It is not natural for children or anyone else, for that matter to spend so much time sitting, so much time ignoring their own real questions and interests, so much time doing precisely what they are told to do. We humans are highly adaptable, but we are not infinitely adaptable. It is possible to push an environment so far out of the bounds of normality that many of our members just can't abide by it, and that is what we have done with schools. In the early twentieth century, concern about childrens welfare in oppressive factories was a primary catalyst for enacting child labor laws and simultaneously tightening compulsory schooling laws. Yet, for many of todays children, the time they spend in forced schooling environments is both cruel and hazardous to their health. Gone are the oppressive factories, but in their place are oppressive schools. Where is the outrage?In a New York Times Op Ed article this week, author Malcolm Harris posits that young people are placed into these high pressure, increasingly competitive schooling environments by corporate interests aiming to push job training to younger ages without having to pay for it. He writes:There are some winners, but the real champions are the corporate owners: They get their pick from all the qualified applicants, and the oversupply of human capital keeps labor costs down. Competition between workers means lower wages for them and higher profits for their bosses: The more teenagers who learn to code, the cheaper one is.



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