A critique of why Third World poverty is so prevalent. Hunger and malnutrition stalk the countries of the South. Over the last 20 years, as the populations of these countries have increased, so too has mass poverty. In this critical study of Western aid giving, Bello offers a pursuasive argument that re-colonization of the Third World has been carried out through the agencies of the International Banks. Bello argues that "the Reagan Administration came to power with an agenda to discipline the Third World" and in pursuing this policy, the United States pushed the World Bank to shift its resources to "structural adjustment" lending. Such power, Bello asserts, was "used by the Reagan treasury Department to blast open Third World economies" and the consequence of such actions has resulted in lower barriers to reduction of social welfare spending, wage cuts and devaluation of local currencies. Recipients of any lending from the West have been forced to accept these policies, with disastrous consequences.
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Most Helpful Customer Reviews
23 of 23 people found the following review helpful:
5.0 out of 5 stars
Best short work on the role of the IMF in global misery,
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This review is from: Dark Victory: The United States and Global Poverty (Transnational Institute) (Paperback)
Bello provides a clear, concise and well evidenced argument that the structural adjustment programs of the IMF and World bank have sunk the countries of the global south into deeper and deeper debt and impovereshment. Bello sets this argument in the historical frame of the northern backlash against the rising economic power of the south. He also links the economic philosophy behind adjustment to the widening prosperity gap and falling real wages in the north.A must read for all those curios about the World Bank and IMF and why people are against them.
4 of 4 people found the following review helpful:
5.0 out of 5 stars
Absolutely the best summary on IMF/WB Policies,
By lucy boulanger (Albuquerquen, NM) - See all my reviews
This review is from: Dark Victory: The United States and Global Poverty (Transnational Institute) (Paperback)
This short but powerful book provides the best and most concise review of the disastrous policies that have been developed by the World Bank and International Monetary Fund. Bello traces the origins of structural adjustment programs and then follows their effects into countries around the world.Although originally published in 1994, the material is more relavent than ever. A MUST READ.
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