Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers

Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers

by Eric Toussaint, Damien Millet, Vicki (T Briault
     
 

ISBN-10: 1583672230

ISBN-13: 9781583672235

Pub. Date: 09/01/2010

Publisher: Monthly Review Press

Mainstream economists tell us that developing countries will replicate the economic achievements of the rich countries if they implement the correct “free-market”policies. But scholars and activists Toussaint and Millet demonstrate that this is patently false. Drawing on a wealth of detailed evidence, they explain how developed economies have

Overview

Mainstream economists tell us that developing countries will replicate the economic achievements of the rich countries if they implement the correct “free-market”policies. But scholars and activists Toussaint and Millet demonstrate that this is patently false. Drawing on a wealth of detailed evidence, they explain how developed economies have systematically and deliberately exploited the less-developed economies by forcing them into unequal trade and political relationships. Integral to this arrangement are the international economic institutions ostensibly created to safeguard the stability of the global economy—the International Monetary Fund (IMF) and the World Bank—and the imposition of massive foreign debt on poor countries. The authors explain in simple language, and ample use of graphics, the multiple contours of this exploitative system, its history, and how it continues to function in the present day.

Ultimately, Toussaint and Millet advocate cancellation of all foreign debt for developing countries and provide arguments from a number of perspectives—legal, economic, moral. Presented in an accessible and easily-referenced question and answer format, Debt, the IMF, and the World Bank is an essential tool for the global justice movement.

Product Details

ISBN-13:
9781583672235
Publisher:
Monthly Review Press
Publication date:
09/01/2010
Pages:
304
Product dimensions:
5.60(w) x 8.30(h) x 1.10(d)

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