Like most people, I was stunned by the arrest of IMF President Dominique Strauss-Kahn for allegedly raping a hotel maid. This is a sordid tale: A powerful and wealthy man is accused of assaulting a hotel worker who, it should be noted, was a union member and therefore had access to more on-the-job rights than a typical hotel employee.
But, as an economist, I’m less interested in writing about the alleged crime (Mr. Strauss-Kahn has maintained his innocence and must be tried before we can make conclusions) than in exploring what the loss of Mr. Strauss-Kahn as the leader of the IMF would mean for working people worldwide. Because make no mistake: losing Mr. Strauss-Kahn as IMF president would be a terrible thing for working people.
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