Abstract

This book describes the genesis of America's political and financial domination.

Michael Hudson's study of US financial diplomacy explores the faults built into the core of the World Bank and the IMF at their inception which, he argues, were intended to preserve the US's financial hegemony. Difficult to detect at the time, these problems have since become explicit as the failure of the international economic system has become obvious; the IMF and World Bank were set up to give aid to developing countries, but instead many of the world's poorest countries have been plunged into insurmountable debt crises.

Hudson's critique of the destructive course of the international economic system provides important insights into the real motivations at the heart of these institutions - and the increasing tide of opposition that they face around the world.
'One of the most important books of this century. It is the first work to synthesise the new and different forms which capitalist imperialism has assumed'
Terence McCarchy, Columbia University
'Illuminates one of the most powerful forces in global economics - one which is hidden, and widely misunderstood - this book is vital reading'
Ann Pettifor