An examination of the World Bank's policies and culture reveal a supranational, non-democratic and extremely powerful institution which functions much like the medieval Church or a monolithic political party, relying on rigid doctrine, hierarchy and a rejection of dissenting ideas to perpetuate its influence.
This book brings together acknowledged experts in their respective fields to provide a uniquely authoritative and comprehensive perspective on globalization and its impact on South Asia generally, and on India in particular.
Recently invited to an interview at the World Economic Forum in Davos, Boris Kagarlitsky laments the disillusionment of Russian liberals, who think “real capitalism” doesn’t produce crises, while as the crisis deepens, critical voices draw increasing attention among audiences in the West.
The ruthless austerity programmes imposed on Greece and the endless cycle of debt renegotiations will only come to a close when Athens takes charge of its predicament and announces a democratic and sovereign cessation of payments.
The fiscal treaty was voted on in a referendum in Ireland on 31st May and was approved by a margin of 60% to 40% (with a turnout of barely 50% of eligible voters). To understand the significance of the treaty and the referendum result, it is necessary to understand the origins of the Irish and European debt crises.
Behind the deaths, military repression and violence that has flared up on the streets of Bangkok lies another story of a country following the dictates of the IMF and the markets, which increased inequalities and unemployment for many Thais and created the resentment that will continue to fuel conflict in Thailand.
The occupy movement has achieved an incredible and much-needed shake-up of a long-standing political stasis in the US and elsewhere, but it is crucial now to highlight the connection between failed foreign policy, bloated military spending and illegal wars, and the economic crisis at home.
The Celtic Tiger might just find its strength and appetite for action in the growth of left leaning electorates and local citizens initiatives. The tailspin of economy caused by austerity policies should be countered by a transparent debt audit.
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.
The “corruption-causes-poverty” narrative has become a standard tool in the hegemonic discourse kit for leaders in some developing countries - where in fact, Waldon Bello argues, it is neoliberal economic policies that are really to blame for poverty. Thailand’s “Red Shirts” are not, however, being distracted by the “corruption” line the World Bank and IMF are pushing, choosing instead to keep their eyes on the prize - the real answer to poverty - replacing neoliberalism with pro-people economic policies.