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Book Details
Abstract
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.
'A book that progressive political leaders the world over should read and take to heart'
David C. Korten
'Bello et al build their case with relentless scholarship. Even those who think they know the structural adjustment scenario inside out will be grateful to Bello for taking on the toughest cases for examination'
Susan George
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Contents | v | ||
| About the Author and his Associates | vii | ||
| About Food First | vii | ||
| Becoming a Member | vii | ||
| Acknowledgements | viii | ||
| Foreword | x | ||
| List of Acronyms | xii | ||
| Introduction: The Great Reversal | 1 | ||
| Springtime of Freedom | 1 | ||
| or Time of Troubles? ? | 2 | ||
| Global Rollback | 2 | ||
| Conspiracy or Ideology? | 3 | ||
| Dismantling the Activist State | 4 | ||
| Barbarians at the Gates | 6 | ||
| 2 Challenge from the South | 7 | ||
| Southern Sunrise | 7 | ||
| State and the Market in the Third World | 8 | ||
| Diversity and Unity | 9 | ||
| 3 Liberalism and Containment | 10 | ||
| Liberalism and Anti- Communism: The Peculiar Mix | 10 | ||
| The Collapse of Containment Liberalism | 15 | ||
| 4 Reaganism and Rollback | 18 | ||
| The Worldview of Reaganism | 19 | ||
| The Reaganite View of the South | 19 | ||
| The Vulnerable South | 24 | ||
| Harnessing the World Bank | 25 | ||
| Selling SALs | 27 | ||
| The Debt Crisis and the Globalization of Adjustment | 28 | ||
| 5 Adjustment: the Record | 32 | ||
| A Sorry Record at Best | 32 | ||
| Explaining Stagnation: Macro- Shocks or Structural Distortions? | 33 | ||
| The Southeast Asian Case | 34 | ||
| Prescription for Stagnation | 35 | ||
| Mexico: Model Reformer? | 37 | ||
| Chile as an Economic Laboratory | 42 | ||
| Ghana: Beacon for Africa? | 45 | ||
| 6 Adjustment: the Costs | 51 | ||
| Misery: a Global Survey | 52 | ||
| Questionable Evidence | 55 | ||
| Adjusting the Environment | 56 | ||
| 7 Adjustment: the Outcome | 67 | ||
| Ending the Creditors Crisis | 67 | ||
| The New South | 69 | ||
| 8 Resubordinating the NICs | 72 | ||
| From Allies to Targets | 72 | ||
| Penalizing Success: the Case of South Korea | 74 | ||
| Unilateralism Universalized | 80 | ||
| GATT as a Weapon | 82 | ||
| The One and Only Path | 85 | ||
| 9 Adjusting America | 86 | ||
| Political Economy of the New Deal State | 86 | ||
| Collapse of the Social Contract | 88 | ||
| Reaganism: from Ideology to Policy | 90 | ||
| The Coming of the Service Economy | 92 | ||
| NAFTA: Securing a Cheap Labor Preserve | 94 | ||
| The Third Worldization of America | 95 | ||
| Accelerating Decline | 98 | ||
| The Human Capital Question | 99 | ||
| US Capital and Global Adjustment | 104 | ||
| 10 Dark Victory | 105 | ||
| Shutting out the South | 107 | ||
| Protracted War | 108 | ||
| The Islamic Threat | 109 | ||
| Heading off Disaster | 110 | ||
| 11 The Battle for the 21st Century | 111 | ||
| The Faces of Barbarism | 111 | ||
| No Room for Nostalgia | 112 | ||
| Checking Capitalism s Logic | 112 | ||
| Cooperation and Competition | 113 | ||
| Internationalizing Cooperative Organization | 113 | ||
| The Role of Working- Class Solidarity | 114 | ||
| The Struggle for the Future | 114 | ||
| 12 Epilogue: the Asian Economic Implosion | 116 | ||
| The Collapse | 117 | ||
| A Failure of Leadership | 120 | ||
| The IMF Worsens the Crisis | 121 | ||
| The Social Costs | 122 | ||
| Crisis and Opportunity? | 123 | ||
| Notes and References | 128 | ||
| Chapter 1: Introduction: The Great Reversal | 128 | ||
| Chapter 2: Challenge from the South | 128 | ||
| Chapter 3: Liberalism and Containment | 128 | ||
| Chapter 4: Reaganism and Rollback | 129 | ||
| Chapter 5: Adjustment: the Record | 130 | ||
| Chapter 6: Adjustment: The Costs | 133 | ||
| Chapter 7: Adjustment: the Outcome | 136 | ||
| Chapter 8: Resubordinating the NICs | 136 | ||
| Chapter 9: Adjusting America | 138 | ||
| Chapter 10: Dark Victory | 141 | ||
| Chapter 11: The Battle for the 21st Century | 141 | ||
| Chapter 12: The Asian Economic Implosion | 141 | ||
| Appendix: Tables | 143 | ||
| Appendix 1: IMF and World Bank Stabilization and Structural Adjustment Loans, 1980 1991 | 143 | ||
| Appendix 2: Rates of Poverty and Indigence in Selected Latin American Countries | 146 | ||
| Appendix 3: External Accounts of Selected Third World Countries, 1982 and 1991 | 147 | ||
| Appendix 4: Voluntary Export Restraints and Related Measures Imposed by the US, 1980 1991 | 148 | ||
| Appendix 5: Shares of US Family Income Going to Various Fifths, and to Top 5% , 1973 1991 | 150 | ||
| Appendix 6: Changes in Distribution of US Net Worth, 1962 1989 | 150 | ||
| Glossary | 151 | ||
| Selected Readings | 155 | ||
| Index | 157 | ||
| Abugre, Charles, | 50 |