Dark Victory: The United States And Global Poverty (transnational Institute Series)

A critique of why Third World poverty is so prevalent. Hunger and malnutrition stalk the countries of the South. Over the last 20 years, as the populations of these countries have increased, so too has mass poverty. In this critical study of Western aid giving, Bello offers a pursuasive argument that re-colonization of the Third World has been carried out through the agencies of the International Banks. Bello argues that "the Reagan Administration came to power with an agenda to discipline the Third World" and in pursuing this policy, the United States pushed the World Bank to shift its resources to "structural adjustment" lending. Such power, Bello asserts, was "used by the Reagan treasury Department to blast open Third World economies" and the consequence of such actions has resulted in lower barriers to reduction of social welfare spending, wage cuts and devaluation of local currencies. Recipients of any lending from the West have been forced to accept these policies, with disastrous consequences. Hunger and malnutrition stalk the countries of the South. Over the last twenty years, as the populations of these countries have increased, so too has mass poverty on a grotesque scale. In this fiercely critical study of Western aid giving, Walden Bello offers a persuasive argument that recolonisation of the Third World has been carried out through the agencies of the International Banks. Bello argues that neoliberalism or doctrinal free-market ideology came to power in the United States with an agenda to ‘discipline the Third World'and the consequences of such a policy has resulted in lower barriers to imports, the removal of restrictions on foreign investments, privatisation of state owned activities, a reduction in social welfare spending, wage cuts and devaluation of local currencies. Recipients of ‘structural adjustment'loans from the West, have been forced to accept these polices, with disastrous consequences. Hailed as a classic study of global poverty, Dark Victory is now reissued with a substantial new epilogue by the author. As we enter the 21st century, many countries of the South are in a state of economic crisis, with once optimistic visions of the future cruelly dashed by rising mass poverty, inequality, and hunger. At the same time, working people in the North find their living standards declining. Dark Victory reveals the roots of these global trends 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. Bello argues that lower barriers to imports, removal of restrictions on foreign investments, privatization of state-owned activities, reduction in social welfare spending, and wage cuts and devaluation of local currencies-all conditions of structural adjustment loans from the North-have had disastrous consequences. Hailed as a classic study of global poverty, Dark Victory is now reissued with a new epilogue by the authors. "As we enter the 21st century, many countries of the South are in a state of economic crisis, with once optimistic visions of the future cruelly dashed by rising mass poverty, inequality, and hunger. At the same time, working people in the North find their living standards declining. Dark Victory reveals the roots of these global trends in a sweeping strategy of global economic rollback unleashed by the U.S. to shore up the North's domination of the international economy and reassert corporate control. Bello argues that lower barriers to imports, removal of restrictions on foreign investments, privatisation of state owned activities, reduction in social welfare spending, and wage cuts and devaluation of local currencies - all conditions of structural adjustment loans from the North - have had disastrous consequences. Dark Victory is now reissued with a new epilogue by the authors."--BOOK JACKET.

As we enter the 21st century, many countries of the South are in a state of economic crisis, with once optimistic visions of the future cruelly dashed by rising mass poverty, inequality, and hunger. At the same time, working people in the North find their living standards declining. Dark Victory reveals the roots of these global trends in a sweeping strategy of global economic rollback unleashed by the U.S. to shore up the North's domination of the international economy and reassert corporate control. Bello argues that lower barriers to imports, removal of restrictions on foreign investments, privatisation of state owned activities, reduction in social welfare spending, and wage cuts and devaluation of local currencies - all conditions of structural adjustment loans from the North - have had disastrous consequences. Dark Victory is now reissued with a new epilogue by the authors.

Incisive And Uncompromising, Dark Victory Tears Through Government Obfuscation And Academic Rationalization To Reveal How Corporate Interests Are Transplanted Into Policy Through A Free-market Ideology Shared By Dominant Economic, Political, And Cultural Actors. A critique of why Third World poverty is so prevalent. Bello offers a persuasive argument that re-colonization of the Third World has been carried out through the agencies of the International Banks.