In a recent editorial comment, The Economist issued a solemn call to all believers in global capitalism not to despair, not to panick, and to do nothing that could endanger the capitalist system (October 18-24, 2008). The magazine invoked the words and spirit of its founder, the Scottish businessman, James Wilson, who, about 165 years ago, gave the paper the philosophy of "economic liberty".
This book takes readers on a journey through the rise and fall of the one-size-fits-all model of development that richer nations began imposing on poorer ones three decades ago. It brings into question the entire conventional notion of “development,” and offers readers a new lens through which to view the way forward for poorer nations and poorer people.
Today, just as faith in deregulated markets has evaporated in the nightmare on Wall Street, so too is the long reign of market fundamentalism (or neoliberalism) ending in the development arena. And, a debate over the best route to development has returned.
Dark Victory reveals the roots of rising poverty and inequality in the South in a sweeping strategy of global economic rollback unleashed by the US to shore up the North's domination of the international economy and reassert corporate control.
A series of provocative essays by leading researchers and activists on three crucial questions: what kind of development should new global economic institutions promote, what are the viable alternatives to the World Bank and IMF and what other global economic institutions are needed to promote a more just trading order with greater social and ecological responsibility.
Europe’s aggressive external market
access agenda, combined with its push internally for market reforms in the
interest of competitiveness, poses new threats to workers in the North and South and will need a transnational trade union response.
The global rise in food prices is not only a consequence of using food crops to produce biofuels, but of the "free trade" policies promoted by international financial institutions. Now peasant organisations are leading the opposition to a capitalist industrial agriculture.