Here's a Perfectly Crazy Idea for the IMF

GENEVA – In the movie Dangerous Minds, the actress Michelle Pfeiffer plays a former US Marine who becomes a teacher in an inner-city high school. In a difficult environment, where academic achievement is far from the top of the rebellious teens’ list of priorities, Pfeiffer’s character comes up with an unorthodox – and effective – new approach: each student will start the year with an “A” grade, which is theirs to lose. At a time when many emerging-market economies are as discouraged as Pfeiffer’s students, perhaps the International Monetary Fund should take a page out of her playbook.