From an internal memo written by the Vice President of the World Bank, 1991
Just between you and me, shouldn’t the World Bank
be encouraging MORE migration of the dirty industries
to the LDCs? [least developed countries] I can think of three reasons:
(1) The measurement 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.
- Lawrence Summers, World Bank Vice
President and Chief Economist
parenthetical link added
1 comment:
At first I thought he was somehow saying it was cheaper to care for folks in less-capitalized countries. Like, health care would cost less. But then I realized he's only talking about lost earnings from sick days. Completely deranged. Or rather, completely indoctrinated. Within the system he runs his statement has sound logic. If everything is just a resource pool to exploit, why not exploit the cheapest ones first? ugh.
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