Shipping Poisons to the Third World

From the Paper:

"The practice of shifting toxic products and toxic wastes to third world countries is well established.. The question of how this industry developed, can be largely traced to the activities of the World Bank. In fact, according to World Bank chief economist Lawrence Summers, the economic logic behind dumping toxic waste in the lowest wage countries is impeccable and is a growth industry in recessionary times. While Summers claims he made this statement to be ironic and provocative, this has been the position of the World Bank, his employer.


In a memo, which criticized a draft of the bank's World Development Report, Summers was applying cost-benefit analysis, which measures the value of a human life by the stream of wages remaining to it. In an example Summers gave, suppose it may cost Global Megatoxics $1 million to install of a state-of-the-art..."

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