The Imf: Doctor, Savior Or Wastrel?

Robert J. Barro claims that the International Monetary Fund is the cause of financial crises and should "go out of business" ("The IMF doesn't put out fires, it starts them; Economic Viewpoint, Dec. 7). Using his reasoning, we ought to abolish the medical profession, which also creates moral hazard. It is obvious that people who smoke, drink too much, and otherwise fail to take care of themselves know that they can fall back on their doctors. If there were no doctors and other forms of medical treatment, such self-abusive misbehavior would diminish or even stop.

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