Widgets Magazine

Managing director of IMF speaks on world economy

Photo by Rod Searcey

Photo by Rod Searcey

Christine Lagarde, managing director of the International Monetary Fund (IMF), addressed a packed Bechtel Conference Room in Encina Hall on Tuesday, in a talk that focused on the current state of the world economy and global innovation and interconnections.

Lagarde had recently flown in from the G-20 summit in Sydney, Australia, during which the financial leaders of the world’s 20 largest economies had agreed to complete core financial reforms in order to mitigate the risk of another global financial crisis.

Lagarde herself expressed ambivalence about the current global economic performance.

“While unemployment and public and private debt is still too high, and global growth is still too low, we certainly see some economic momentum in the works, with global economic growth of 3.75 percent this year, rising to four percent next year,” she said.

However, this growth, largely due to positive advancements in the United States economy, has led to the tapering of quantitative easing, the Federal Reserve’s unconventional asset purchasing scheme.

“For emerging markets, […] a rising tide came with more choppy waves,” she said, pointing to the fact that weakening economies along with asset-purchase tapering prompted capital flight from emerging markets, generating market volatility and currency variations.

Lagarde also touched upon Stanford’s role in promoting technological learning and spurring innovation, asserting that students need to recognize the role that they play in driving progress.

“If the previous [economic] revolutions were about using machines for brawn, this one is about using machines for brains,” she said, pointing out that science fiction is rapidly becoming “science fact.”

Lagarde noted that despite unprecedented levels of innovation, technology has led to growing concerns about rising inequality.

“The bottom half of the world’s population owns the same as the richest 85 people in the world,” Lagarde, citing figures from Oxfam International.

She suggested that Stanford is, and should continue to be, at the forefront of the fight against inequality.

“I know that these concerns resonate strongly at this university, which was founded—to use the words of Jane Stanford—with a ‘spirit of equality,’” she said.

In Lagarde’s mind, alleviating this inequality starts with education.

“Fundamentally, we need to change what people learn, how people learn, when people learn and even why people learn,” she said. “We must get beyond the traditional model of students sitting passively in classrooms.”

In an interview with The Daily after her talk, she urged Stanford to help democratize the “bridge” that education provides.

“Given where it is located and given the density of innovation in Stanford’s ecosystem, I am sure that it will use some of the tools, be it e-learning or e-teaching, to propagate the learning, research and work that is being done here at Stanford,” Lagarde said.

According to Lagarde, the private sector should communicate more openly about what its scenarios for the future are, and what its strategies will be, in order to help educational institutions actually adapt to that market.

“It is only through that dialogue that we can ensure that education really is a bridge between today’s and tomorrow’s economy,” she said. “This is a great test of our time, and I know that the Stanford community is intricately linked to the developments that will shape out future.”

The event was co-sponsored by the Freeman Spogli Institute for International Studies and the Stanford Institute for Economic Policy Research.


Contact Felix Boyeaux at fboyeaux ‘at’ stanford ‘dot’ edu.

  • Bummer

    Why was this so poorly publicized?

  • gerry d welder

    The UN and it’s agencies, the IMF and World Bank, produce nothing, are not subject to the laws of any country it operates in, pays no tax, generates no revenues, is confiscating your wealth through taxes and complicit federal government agencies.

    The UN is ramming ‘Agenda 21’ and ‘Common Core’ down the throats of the world, the UN’s World Bank is complicit in forcing poor farmers off their own land in Africa and South America for corporate and university endowment ‘tree farm/carbon credit’ investments, is deeming sovereign resources off limits, trying to eliminate (citizen’s only) the right to bear arms, our country’s sovereignty and our individual freedoms and now trying to force a ‘world’ climate change tax and ‘world’ wealth tax on us AND under the guise of saving us from asteroids, the UN is NOW trying co-opt our US space program, it’s technology, resources and MORE OF OUR TAXES.

    YOO HOO!

    Lagarde’s (IMF) salary is over $800,000 + per year PLUS thousands in ‘stipends’. and she PAYS NO TAX.

    “most UN employees pay no tax”.

    The IMF and World Bank are UN agencies of now countless agencies, commissions and organizations, one big Trojan Horse and tool of a few dynastic families, sucking the wealth, sovereignty,freedoms and life out of the world.

    We have to stop giving credibility and decision making powers to unelected foreign entities that we are forced taxed to fund while they supplant our own country’s laws and sovereignty and take control over our resources.

    Time to take away the UN’s ‘supranational sovereignty’,

    Through imposed ignorance we are handing over our resources, funding (taxes), technology and sovereign law making to basically an unelected, new monarchy (UN) made up of mostly 3rd world dictatorships who are just tools of a few dynastic families.

    … time to defund and reform federal into constitutional compliance, reign in regulatory down to it’s original intended purpose, defund the IRS and the Department of Education, re-coup our state’s rights, take back federal land -our state’s property from the feds), time to take back control of our own waterways and national parks and de-fund the UN, kick them out of our country, claw back pensions and restitution of it’s assets.

    …time to take back control of our own country’s law making ability, waterways and national parks and de-fund the UN, kick them out of our country, claw back pensions and restitution of it’s assets, starting with the IMF’s gold hoard.

    Listen to the last 3 minutes and ask why NOT A WORD FROM THE UN:

    youtube: The Rothschilds Exposed 3/3


    US citizens (working and paying taxes) fund 22% of the entire UN world budget & our ‘federal’ regulatory is also back door funding the UN (with your taxes, especially the EPA). We have been funding the United Nations University Institute for Sustainability and Peace (UNU-ISP) since 1972. How’s that sustainability & peace working out? How many of their ‘professors’ & administrators are now comfortably retired on obscenely fat tax funded pensions? The UN includes the ‘World Tourist Agency’, and it is tax funded, WTF?

    When our own US citizens were furloughed, why wasn’t the massive 22%++ of US tax funding of the UN and it’s countless agencies, organizations and commissions withheld or even mentioned by MSM?

    Wikipedia the UN and see how HUGE it is and each comes with their own building complexes, vehicles, support complexes, staff, travel, security, food and energy expenses, conferences AND the now tens of thousands of UN retirees (mostly foreign) and their pensions, perks and benefits. Now RE-READ my post and see what they contribute back into each country they operate in.


    WAKE UP, maybe next time you look at your pay check

    Why then isn’t MSM all over this?A co-conspirator of the Rothschilds explained it years ago:

    “We are grateful to The Washington Post, The New York Times, Time magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. … It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the world is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries. ”

    -David Rockefeller, Baden-Baden, Germany in June 1991


    The United Nations Headquarters complex was constructed in stages with the core complex completed between 1948-1952. The Headquarters occupies a site beside the East River, on 17 acres (69,000 m2) of land purchased from the foremost New York real estate developer of the time, William Zeckendorf, Sr. Nelson Rockefeller arranged this purchase, after an initial offer to locate it on the Rockefeller family estate of Kykuit was rejected as being too isolated from Manhattan. The US$8.5 million (adjusted by inflation US$82.6 million) purchase was then funded by his father, John D. Rockefeller, Jr., who donated it to the city.[6] Wallace Harrison, the personal architectural adviser for the Rockefeller family, and a prominent corporate architect, served as the Director of Planning for the United Nations Headquarters. His firm, Harrison and Abramovitz, oversaw the execution of the design.[7]

    With their huge international investment exposure and influence, wouldn’t you expect the Rothschilds and Rockefellers to be just a little more concerned and vociferous, as the world ‘s economic structure is crumbling toward chaos and war and people’s freedoms are systematically taken away?

    Unless they are orchestrating it (have they already ducked into their D.U.M.B. personal accommodations, paid for by the US taxpayer?)

    The Jawa Report: But But Discussion of Muslims Still…


    October 24, 2013

    Discussion of Muslims Still Enslaving Blacks in Sudan is Racist Against Islam

    And you can always excuse modern racist Islamic slavery going on today, with discussion of past slavery practiced by non-Muslims.


    I’m left puzzled by the actions of the United Nations and conferences like Durban. Why are the calls for help from the black Africans of Sudan not discussed? According to Deng the UN was well aware of the enslavement of South Sudanese by the Arabs.

    Interview: Kathryn Bolkovac of “The Whistleblower” on Human …

    pogoblog.typepad.com/ pogo/ 2011/ 10/ interview-kathryn-bolkovac-of-the-whistleblower-discusses-trafficking -scandal-new-film.html – View by Ixquick Proxy – Highlight

    Oct 12, 2011… her fellow U.N. peacekeepers were complicit in the rape and trafficking … untold side of the scandal

    The Whistleblower (2011)

    G. Edward Griffin on the United Nations


    United Nations Corruption and the Need for Reform | Foundation for …

    http://www.defenddemocracy.org/ united-nations-corruption-and-the-need-for-reform/ – View by Ixquick Proxy – Highlight

    The United Nations is a hotbed for corruption and abuse. … Following the Oil-for- Food scandal, in which the U.N. profited from and covered up for billions in …

  • Peter

    Totally wrong about IMF Managing Director salary.


  • gerry d welder

    I always appreciate any corrections for my own clarity, but your reference is from 2011 (total $551,700 NET OF ANY INCOME TAXES -in 2011. If you re-read your own posted reference you would see that the above figure does not include the yearly COL increases nor does it include benefits and pension contributions (as NPR says “from people like you” thank you).
    When I paid my employees, I wrote a check that included -ON TOP OF THEIR BASE SALARY, also their social security, federal income tax, state tax, municipal tax, annuity/pension funds, medical benefits, bonuses/vacation/paid holidays and expenses. People conveniently forget the real cost of personnel.
    Note again she pays no tax, any tax you hear about are ‘internal taxes’ which is a bad joke to the rest of the world. Look at your own paycheck after re-reading my post.