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If the Bank really has development at heart, it will change the conditionalities away from privatization, deregulation and lower corporate taxation and put the emphasis on reducing military expenditures, ensuring that progressive tax legislation is enacted and enforced, that tax havens are outlawed, and that a financial transactions tax is adopted and the revenues used to build “A World Free of Poverty” through international solidarity.

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It is not merely that we want to see the game played fairly. We also want to see the rules changed, so that there shall be both less opportunity and less temptation to cheat, and less chance for some few people to gain a profit to which either they are not entitled at all, or else which is so enormous as to be greatly in excess of what they deserve, even though their services have been great. We wish to do away with the profit that comes from the illegitimate exercise of cunning and craft. We also wish to secure a measurable equality of opportunity, a measurable equality of reward for services of similar value. To do all this, two, mutually supplementary movements are necessary. On the one hand, there must be - I think there now is - a genuine and permanent moral awakening, without which no wisdom of legislation or administration really means anything; and, on the other hand, we must try to secure the social and economic legislation without which any improvement due to purely moral agitation is necessarily evanescent.

Countries that benefit from World Bank financing should ensure that all loans they request and all foreign direct investment they receive are used in a manner that advances the enjoyment of human rights and does not result in the enrichment of a few at the expense of the many.

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"When designed and implemented correctly, ‘conditional financing’ can: 1) steer resources towards the strategic objectives; 2) avoid speculative capture, by ensuring the productive use of public resources; and 3) push the private sector towards inclusive, sustainable growth".

We hold that economic aid to the developing countries must strictly respect the sovereignty of the recipient countries and must not be accompanied by any political or military conditions and the extortion of any special privileges or excessive profits. Loans to the developing countries should be interest-free or low-interest and allow for delayed repayment of capital and interest, or even reduction and cancellation of debts in case of necessity. We are opposed to the exploitation of developing countries by usury or blackmail in the name of aid.

The vast individual and corporate fortunes, the vast combinations of capital which have marked the development of our industrial system, create new conditions, and necessitate a change from the old attitude of state and the nation toward property.

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