Contents Preface xi Acknowledgments xv 1. THE WORLD BANK AND DEVELOPMENT 1 Historical Context 2 Methodological Framework 3 Pars Destruens 4 Pars Construens 8 2. THE CURRIE MISSIONINCOLOMBIA,1949-1953 11 The Importance of the Colombia Mission for the Switch from Reconstruction to Development 12 End of the Reconstruction Phase 12 Initial Contacts Between the Colombian Government and the IBRD 15 The Collaboration Between Lauchlin Currie and the IBRD 22 The Mission Collects Information 22 Putting the Team Together 28 The First IBRD General Survey Mission, Colombia 1949 35 The Currie Mission Report 39 The Comite de Desarrollo Economico (1950-1951) and the Consejo Nacional de Planificacion (1952-1954) 46 The Evolution of the Relationship Between Currie and the World Bank Tensions Within the Comite de Desarrollo Economico 50 The Difficult Beginning of the Consejo National de Planificacion (1952-1953) 53 The End of the Affair 61 3. ECONOMICDEVELOPMENT IN THEORY AND PRACTICE Development Approaches: Balanced Versus Unbalanced Growth 66 Balanced Growth 67 Unbalanced Growth 70 Development Approaches: Program Loans Versus Project Loans 76 Program Loans 77 Project Loans 78 The Debate on Development Reverberates Inside the IBRD 79 Conflicting Approaches: Program Versus Project 79 Program Versus Project: The Bank's Changing Attitude 80 Autobiographical Notes 82 Currie Versus Hirschman: Monetary and Fiscal Policy 83 Analyzing the Situation 83 Hypotheses 84 The Clash 85 Currie Versus Hirschman: Iron and Steel Production 87 Analysis of the Currie Mission 87 Interests at Odds 90 The Informe de la Mision Para el Comite and the Flesher Solution 93 Steel and Development: Reasons for Disagreement 98 Changing Alliances 103 Agreements and Disagreements 103 A Sociological Interpretation of the Development Economics Debate: Robert K. Merton and the Kindle Cole Principle 105 4. AT THE ROOT OF THE BANK'S POLICY ADVICE 112 The Urban Development Plan for Barranquilla 114 Request for IBRD Financing 114 Why Did the Bank Refuse Financing? 118 The IBRD and Housing Loans 120 The ILO Proposal and the First IBRD Comments 120 The Disengagement of the IBRD 122 Discussions at the Bank: Impact Loans and Social Loans 123 Impact Loans 123 Social Loans 127 The Bank's Relentless Preference for Directly Productive Loans 129 Raising Funds in the U. S. Capital Market 130 Wall Street Men 131 U.S. Foreign Economic Policy and the Wane of the New Deal 133 The Early Successes of the Bank: An Obstacle to Change 136 Coda: The End of the Debate 136 The Reorganization of 1952 136 Black's Bank 144 Conclusions 147 Notes 155 Bibliography 185 Index of Names 195