Congratulations to Syukuro Manabe, co-winner of the 2021 Nobel Prize in Physics, and to David Card and Joshua D. Angrist, co-winners of the 2021 Nobel Prize in Economics.
The International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, and the United Nations Special Fund are considered.Originally published in 1966.
That intergovernmental organizations do not operate effectively has long been apparent. Why they fail to do so has puzzled observers, as has the lack of a satisfying explanation of how these institutions actually do work. Using the...