Differing Concepts of Populism Prabhat Patnaik

The same term is often employed by different people with different meanings, and this can be a source of immense confusion. The World Bank has done this to good effect in the past, taking over terms that are being used in a particular sense, especially by the Left, and using them in a very different sense, in order to create deliberate confusion and exploit in some way the sympathetic feeling that the term had attracted from people in its initial usage. “Structural adjustment” is a prime example of such appropriation by the World Bank. In its initial usage it had…

On Economic and Social Life in Turkey in Early 2005 Independent Social Scientists

The paper traces the change in the economy and society in Turkey, which has been an inevitable result of the IMF and World Bank led structural adjustment policies that the country has been faithfully following for decades. The paper discusses how the resultant unemployment and poverty, coupled with the current dependence on international finance capital, could have significant adverse consequences for the political and economic fabric of the society, the rise of extreme political and religious ideologies among them. tsbd (Download the full text in PDF format)

New Man at the World Bank Arthur Macewan

Widely known as the architect of one of the most controversial U.S. wars, he became a symbol of an aggressive military approach to foreign affairs. Against widespread international opposition, he pushed ahead with an essentially unilateral U.S. military action in the name of "promoting democracy." Perhaps his most lasting legacy will be the perverted concept of destroying a country in order to save it. After his stint at the Department of Defense, he was selected by the U.S. president to head the World Bank. On the surface at least, it seemed a strange appointment. Here was a man thoroughly identified…

Rapid Change and Mortality Crises Giovanni Andrea Cornia

The last two decades have been characterized by rapid change in most social, political and economic areas. This paper analyses the historical and current episodes of rapid change that – despite their inherently positive nature and the favourable expectations that surrounded their introduction – generated large social costs. rapid_change (Download the full text in PDF format)

The World Bank and the IMF in Africa: Strategy and routine in the generation of a failed agenda Howard Stein

This paper argues that more than any other region, Africa has been forced to feel the full effect of neo-liberalism due to its increasing dependence on bilateral and multilateral aid and paucity of alternative sources of capital. Meanwhile, the vision of development choreographed by the World Bank and the Fund continues to be captured by the same core principles and policies which have failed Africa in the last two decades. imf_africa (Download the full text in PDF format)

Increasing Poverty in a Globalised World: Marshall plans and morgenthau plans as mechanisms of polarisation of world incomes Erik S. Reinert

The increasingly globalised economy seems to produce opposite effects of what standard economic theory predicts. Instead of a convergence of world income (towards factor-price equalisation), a group of rich nations show a tendency to converge, another convergence group of poor countries gathers at the bottom of the scale. This paper explains the mechanisms and the economic policies that create this type of gap in the living standard of workers in the non-tradable service sector. globalised_world (Download the full text in PDF format)

Argentina Since Default: The IMF and the depression Alan B. Cibils, Mark Weisbrot and Debayani Kar

More than eight months since the economic crisis has passed and Argentina's economy continues to decline, with the recession now having lasted more than four years. This paper looks at Argentina's crisis since the default in an attempt to find a way out of the Depression. argentina_default (Download the full text in PDF format)

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