The World Bank

The World Bank : A Critical Primer

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Description

The World Bank is a controversial organisation. It is widely viewed with suspicion, as the international economic arm of the US, in thrall to the President who is responsible for appointing the head of the Bank. Eric Toussaint gives a highly readable account of just why the World Bank has become so powerful. In short, clear chapters he shows how the bank operates, who funds it, and what it sets out to promote. The Bank's main purpose is to grant loans to all the newly independent states of the developing world, to help them on their journey to recovery after colonial occupation. In reality, the conditions imposed on these states -- including enforced privatisation of all public services, and enforced neo-liberal rules on trade -- mean that the Bank has become the new colonial authority in everything but name. This is a perfect book for anyone looking for a critical introduction to the history of the Bank and its role in world affairs.show more

Product details

  • Hardback | 336 pages
  • 136 x 218 x 26mm | 521.63g
  • PLUTO PRESS
  • London, United Kingdom
  • English
  • English Languag
  • 19 figures
  • 0745327141
  • 9780745327143

About Eric Toussaint

Eric Toussaint is president of the Brussels-based Committee for Cancellation of the Third World Debt and is a Fellow and frequent lecturer at the International Institute for Research and Education in Amsterdam. He edits the journal Les Autres Voix de la Planete and co-edited the anthology IMF/World Bank/WTO: The Free-Market Fiasco (Amsterdam, 1995). Raghu Krishnan is a translator, interpreter and journalist. His articles have appeared in the Economic and Political Weekly (Bombay), Monthly Review (New York) and International Viewpoint (Paris). He translated Claude Jacquin's book The Trade-Union Left and the Birth of a New South Africa (IIRE, Amsterdam, 1999). He currently lives in Paris.show more

Table of contents

About this book Terminology Introduction 1. The creation of the Bretton Woods institutions 2. The first years of the World Bank (1946-1962) 3. Difficult beginnings between the UN and the World Bank 4. The post-World War II context - the Marshall Plan and US bilateral aid 5. A Bank under the influence 6. World Bank and IMF support of dictatorships 7. The World Bank and the Philippines (1946-1990) 8. The World Bank's support of the dictatorship in Turkey 9. The Bank in Indonesia: a textbook case of intervention 10. The World Bank's theories on development 11. South Korea: the miracle unmasked 12. The debt trap 13. The World Bank saw the debt crisis looming 14. The Mexican debt crisis and the World Bank 15. The World Bank and the IMF: the creditors' bailiffs 16. Presidents Barber Conable and Lewis Preston (1986-1995) 17. James Wolfensohn switches on the charm (1995-2005) 18. Debates in Washington at the start of the twenty-first century 19. The World Bank's accounts 20. Paul Wolfowitz, 10th World Bank President 21. Structural adjustment and the Washington Consensus: are they things of the past? 22. The World Bank and the respect of human rights 23. Time to put an end to World Bank impunity 24. An indictment of the World Bank Afterword: Interview with Eric Toussaint Notes Bibliography Indexshow more

Review quote

Eric Toussaint studies the evolution of the debt of Southern countries with painstaking precision and patience. Thanks to his efforts and those of the young men and women assisting him, the CADTM has established itself as an authentic counter-power to the Bretton Woods institutions and the Paris Club. -- Jean Ziegler, United Nations Special Rapporteur on the Right to Food. Author of numerous books, including L'empire de la honte (The Empire of Shame), 2005. Toussaint's book is an indictment of the World Bank and he is clear that any financial institutions that take its place 'must be subservient to a social movement totally opposed to capitalism and neoliberalism'. -- Michael McDonnell, Socialist Review Eric Toussaint has once again provided absolutely critical information. Anyone concerned with how excessive Northern wealth flows from sustained Southern poverty needs this analysis. -- Patrick Bond, Director, University of KwaZulu-Natal Centre for Civil Society, Durban, South Africa Eric Toussaint studies the evolution of the debt of Southern countries with painstaking precision and patience. -- Jean Ziegler, United Nations Special Rapporteur on the Right to Food Eric Toussaint has once again provided absolutely critical information. Anyone concerned with how excessive Northern wealth flows from sustained Southern poverty needs this analysis. -- Patrick Bond, Director, University of KwaZulu-Natal Centre for Civil Society, Durban, South Africashow more

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