Capitalism and a guiding principle of IMF policy making  Capitalism as guiding principle: At its core, the IMF is a capitalist, financial institution, not an exercise in proportional representation and democracy, and it has to function on that premise. Drastic changes in the quota systems that would see the West ceding control of the institution, would not be based on the reality of the financial system, but on a political desire to make the institution more representative. Such a move would hurt its efficiency.