Dark Victory: The United States and Global Poverty / Edition 1

Hardcover (Print)
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As we enter the 21st century, many countries of the South are in a state of economic crisis, with once optimistic visions of the future cruelly dashed by rising mass poverty, inequality, and hunger. At the same time, working people in the North find their living standards declining. Dark Victory reveals the roots of these global trends in a sweeping strategy of global economic rollback unleashed by the U.S. to shore up the North's domination of the international economy and reassert corporate control. Bello argues that lower barriers to imports, removal of restrictions on foreign investments, privatisation of state owned activities, reduction in social welfare spending, and wage cuts and devaluation of local currencies - all conditions of structural adjustment loans from the North - have had disastrous consequences. Dark Victory is now reissued with a new epilogue by the authors.
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Product Details

  • ISBN-13: 9780745314662
  • Publisher: Pluto Press
  • Publication date: 2/20/1999
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 172

Meet the Author

Walden Bello is an author, academic and political analyst. He is a professor of sociology and public administration at the University of the Philippines, as well as executive director of Focus on the Global South.

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Table of Contents

About the Author and his Associates
About Food First
List of Acronyms
1 Introduction: the Great Reversal 1
2 Challenge from the South 7
3 Liberalism and Containment 10
4 Reaganism and Rollback 18
5 Adjustment: the Record 32
6 Adjustment: the Costs 51
7 Adjustment: the Outcome 67
8 Resubordinating the NICs 72
9 Adjusting America 86
10 Dark Victory 105
11 The Battle for the 21st Century 111
12 Epilogue: The Asian Economic Implosion 116
Notes and References 128
App.: Table 1 IMF and World Bank Stabilization and Structural Adjustment Loans, 1980-1991 143
App.: Table 2 Rates of Poverty and Indigence in Selected Latin American Countries 146
App.: Table 3 External Accounts of Selected Third World Countries, 1982 and 1991 147
App.: Table 4 Voluntary Export Restraints and Related Measures Imposed by the US, 1980-1991 148
App.: Table 5 Shares of US Family Income Going to Various Fifths, and to Top 5% 1973-1991 150
App.: Table 6 Changes in Distribution of US Net Worth, 1962-1989 150
Glossary 151
Selected Readings 155
Index 157
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