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The nomination of deputy defense secretary Paul Wolfowitz to head the World Bank shows that President Bush does not scant the importance of multilateral institutions, as the caricature has it, but rather dissents from conventional liberalism about what their future should be. He has chosen to send one of his administration's most capable officials to the bank. There have been all the predictable yelps about Wolfowitz's being an "architect" of the Iraq invasion, as though there should be some shame in this fact (or, rather, in this ...