ECONOMIC RESEARCH GROUP
MEETING
March 19, 208
The meeting was called to order at noon with 34 members in attendance. Chairman Keefer ask if we had any guests present after which he announced that our April meeting would be held at the San Mateo Elks Lodge. The cause of the change in venue was due to a booking problem at the golf course location.
Bob Shoemaker was called upon and he recited the narrative poem of the “Shooting of Dan McGrew.” Bob was really into the story and completed it without referring to notes!
Well done, Robert.
Tom Keefer next introduced our speaker, Dr. Philip Keefer.
Dr. Keefer attended schools in the local San Mateo and Belmont area before moving on to Washington University in St. Louis. Dr Phil graduated with an A.B. in Economics in 1983 and a M.A. in Economics in 1986 We were amazed by Tom’s ability to give Dr. Phil’s biographical data with out referring to notes! Way to go Tom.
Dr Philip Keefer mentioned that from 1989 through the major part of 1990 he was Economic advisor to Hernando de Soto, President of the Institute Libertada y Democracia in Lima Peru. After which Philip traveled to the University of Maryland eventually becoming Associate Director/Economist for the IRIS Center at the university. In 1994 Doctor Keefer joined the World Bank in Washington DC as Lead Research Economist.
Doctor Keefer went on to tell us of the work being done by the World Bank in Africa and of its loaning money to developing countries for improvement of the local infrastructure providing schools, water treatment facilities and sewage disposal for the communities. Dr. Phil said people in countries he was concerned with were surviving on less than $ 500 per year and lacked the basic services we take for granted. When asked if the Bank experienced defaults on the loans made and he said no loans were in default. He further clarified that by saying some loans are re-negotiated and some forgiven on instructions of the supporters of the World Bank.
A lively question period followed this excellent presentation.
William Schinagl, Secretary