Debt, the IMF, and the World Bank

Debt, the IMF, and the World Bank

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Mainstream economists tell us that developing countries will replicate the economic achievements of the rich countries if they implement the correct a€œfree-marketa€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 economya€”the International Monetary Fund (IMF) and the World Banka€”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 perspectivesa€”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.See a€œCO2 Emissions: A Piece of the Pie, a€ Science, May 11, 2007. See CDIAC, UNCTAD, Manual of Statistics 2006a€“7, Abraham Lincoln ... See For a detailedanbsp;...

Title:Debt, the IMF, and the World Bank
Author:Eric Toussaint, Damien Millet
Publisher:NYU Press - 2010-09-01


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