Money and Power

Money and Power : Great Predators in the Political Economy of Development

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-- Examines why southern states are still experiencing mass poverty after over sixty years of 'development' -- Sarah Bracking explores the role of governments and development finance institutions in managing the markets in which the poorest countries operate. These institutions -- the 'Great Predators' -- are trapping the populations of the south in a permanent cycle of austerity. Bracking examines the political economy relations between states. She shows how pseudo-public 'development' institutions retain complete economic control over Southern markets, yet the international system is itself unregulated. Operating in the interests of North America and the European Union, they have a political purpose, and yet serve to cloud the brute power relations between states. This book will be of interest to anyone studying debt and development, global financial institutions, and the way the world economy is regulated and more

Product details

  • Paperback | 256 pages
  • 134 x 212 x 18mm | 322.05g
  • London, United Kingdom
  • English
  • 7 figures
  • 0745320112
  • 9780745320113

Review quote

A committed, thoughtful, closely and rigorously-argued work. This book explains the most important constraints to economic development today. An essential contribution to understanding economic 'development' in our troubled times. The most relevant analysis of how money and capitalist power reproduce poverty in today's world. -- Professor Alfredo Saad Filho, Head of Department of Development Studies, School of Oriental and African Studies, University of London. Sarah Bracking exposes in meticulous and elegant detail the economic and political interests that lie behind aid. The books great strength lies in its insistance on viewing the institutions that promote and service the development industry ... through the lens of power relations. In a strikingly original analysis, Bracking pushes explanations of the failures of development. -- Nick Hildyard works with the Corner House, a UK research and solidarity group focusing on human rights, environment and development. Our understanding of allegedy 'concessional' finance and donor credit will never be the same, what with Bracking's critique of predatory multilateral and bilateral institutions. Now ... we can get back to a rigorous political economy of finance and uneven development, of which this is a cutting-edge example. -- Patrick Bond, Senior Professor, University of KwaZulu-Natal School of Development Studies, Durban, South Africa The message of this book is urgent and timely. Bracking's Money and Power is a clear and trenchant indictment of the view that private capital has the interest and capacity to develop the Global South. She shows [and documents] in graphic detail how the private sector exacts a profit in developing countries alongside the rhetoric of poverty reduction and promotion of development. -- Raymond Bush, Professor in African Studies and Development Politics, University of Leeds Bracking's book ... may offer a prospect for promoting greater international justice and equity between states. ... This is an especially important contribution because ... [it] deliver[s] important detail about how northern elites and businesses, under the guise of development maintain and promote international inequality. -- Raymond Bush, Professor in African Studies and Development Politics, University of Leedsshow more

About Sarah Bracking

Sarah Bracking is a Senior Lecturer in Politics and Development at the University of Manchester. She is the editor of Corruption and Development (2007) and a member of the Review of African Political Economy editorial working more

Table of contents

Chapter 1: The political economy of development Chapter 2: Money in the political economy of development Chapter 3: Making Markets Chapter 4: International development banks and creditor states Chapter 5: The British Market Makers Chapter 6: Poverty in Africa and the history of multilateral aid Chapter 7: Derivative business and aid-funded accumulation Chapter 8: Private sector development and bilateral interventions Chapter 9: Taking the long view of promoting capitalism Chapter 10: Aid effectiveness: what are we measuring? Chapter 11: Conclusion Bibliography Indexshow more

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