Column: With or without him

Paul Hewson is 44 years old. He lives in Ireland with his wife, Ali, and their four children. He enjoys singing and oration, and considers himself an amateur thespian. Yet, given this lifestyle, he is being considered as president of the World Bank.

You probably know Mr. Hewson better as Bono, the lead singer of the pop group U2. Aside from his professional career as an entertainer, Bono has become recognized worldwide as an advocate for issues plaguing developing nations, particularly the fight against poverty.

Said less altruistically, Bono has appeared detached from the issue and politically biased, delivering many a concert-stage political sermon bashing American policies. However, he recently toured Africa with former U.S. Treasury Secretary Paul O'Neill, who said he was impressed with Bono's knowledge and understanding of economic issues that affect the third world. He brought the conservative Jessie Helms to tears after citing Bible passages relating to poverty. He might hate America, but he knows his stuff about Africa and how to work a crowd.

As a reward for his work, he has been nominated for a Nobel Peace Prize for these "international social justice efforts," specifically for trying to persuade rich nations to forgive the debt of poor nations.

Whether that is sound international fiscal policy is up for debate. However, the fact remains that Bono is the wrong man to head the World Bank.

To some, Bono seems like an Arnold Schwarzenegger - a well-liked celebrity who knows a thing or two about politics and is powerful enough to convince smart people to help the government fix problems. Electing Arnold was a risk, but he turned out okay. Likewise, many think that selecting Bono is an idea so crazy that it just might work. However, running a global financial institution is a much more objective and individual task.

Running the World Bank requires more than a big heart, crazy sunglasses and an Irish brogue. Bono has no formal education in economic policy-making - his simplistic rallying cry is that rich countries need to give poor countries more money.

Outgoing World Bank president James Wolfensohn earned a BA at the University of Sydney and his MBA at Harvard Graduate School of Business. During his 10-year tenure, the World Bank has really become an anti-bank in terms of the traditional sense. According to its Web site, it has become the largest external financier of primary education, basic health, HIV/AIDS programs, biodiversity and the environment. Wolfensohn was confronted with the challenge of transforming a centralized and outdated institution into a useful tool for the world, and he succeeded.

While the Bank's primary mission of providing cheap loans to developing nations has become a secondary purpose, Bono does not have the education, or an understanding of business operations and organization, to effectively fill the gap that will be left by Mr. Wolfensohn.

Also, Bono is a native of Ireland. Every World Bank president has been an American - and for good reason. The United States of America is the leading financial contributor to the World Bank. Bono's harsh criticism of American policy regarding global poverty is completely unwarranted, and his presence at the top of the World Bank would not facilitate a productive relationship with the world's most benevolent nation.

At first glance, Bono seems like a very nice choice to lead the World Bank. But that's the problem - he's a nice choice. His passionate rhetoric on the issue of global poverty makes him stand out as an informed activist, but his ability to lead what is essentially a global business is not supported by his formal education. Just because I might like hamburgers and have a public platform to talk about them in, doesn't mean McDonalds Corporation should select me to run their operations.

With or without Bono, the World Bank will continue to make great advancements in developing nations. But without him, these improvements will come faster and be greater, and the Bank will retain its structural and economic integrity.