Democratic Deficits in the WTO and the IMF

Paper Summary:

Before a government, organisation or institution can be deemed democratic they must satisfy a specific set of criteria. From procedural to substantive perspectives, these can differ in accord with the theory of democracy being used. This paper explores some key indicators of democracy (elections, representativeness and the expression of the will of the people) and the promotion of equality and fairness, as they pertain to the structure, practices and core policies of the World Trade Organisation (WTO) and the International Monetary Fund (IMF), in order to ascertain which organisation is more democratic.
Outline
Elections
Representation
The Will of the People
Equality and Fairness for All

From the Paper:

"An organisation or institution can only be considered democratic and, in fact, legitimate if they are elected via free and open elections that are generally contested by a minimum of two candidates and the winner determined by (usually) majority rule (Janda, Berry and Goldman 1990: 53). When these principles are applied to the manner in which the WTO and IMF executives and member countries are chosen it is evident that this was not done democratically. Along with the World Bank, executives at the WTO and IMF are not chosen by democratic election they are simply appointed by member countries (Stiglitz 2004: 227), they then act as a representative on behalf of that country. Executives at both institutions in this sense could argue that they promote representative democracy given that they represent their country."

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