text: Look who has come to Jesus? In a nut shell, here's the defect in free trade that the IMF can't admit: free moving current account; captive labour markets. Labour can't pursue opportunity as easily as capital because labour immigration is fraught with friction. Capital, however, is as free as air. Policy is still very much unbalanced in favour of capital. 
  
  Lagarde is obsessed with empowering her friends in finance; people, however, not so much. Angry populism is long overdue, so is the departure of Captain Ahab at the IMF.