Organisation For Economic Co-operation and Development - Criticism

Criticism

See also: OECD controversy

The OECD has been criticised by several civil society groups and developing countries. The main criticism has been the narrowness of the OECD because of its limited membership to a select few rich nations. In 1997–1998, the draft Multilateral Agreement on Investment was heavily criticized by several non-governmental organisations and developing countries. Many critics argued that the agreement would threaten protection of human rights, labor and environmental standards, and the least developed countries. A particular concern was that the MAI would result in a 'race to the bottom' among countries willing to lower their labor and environmental standards to attract foreign investment. Also the OECD's actions against harmful tax practices has raised criticism. The primary objection is the sanctity of tax policy as a matter of sovereign entitlement.

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Famous quotes containing the word criticism:

    “I, with other Americans, have perhaps unduly resented the stream of criticism of American life ... more particularly have I resented the sneers at Main Street. For I have known that in the cottages that lay behind the street rested the strength of our national character.”
    —Herbert Hoover (1874–1964)

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