The IMF and World Bank were created to help countries survive financial crises and to help them develop into prosperous economic actors. But their 75-year track record shows the opposite: their loans and structural adjustment policies have plunged poor countries into impossibly large debt traps and forced the Third World to focus on producing goods for consumption in the West, instead of growing consumption and industry at home. The Bank and the Fund's "development and assistance" has been anything but. The reality is a history of neocolonial exploitation with shocking results.
The IMF and World Bank were created to help countries survive financial crises and to help them develop into prosperous economic actors. But their 75-year track record shows the opposite: their loans and structural adjustment policies have plunged poor countries into impossibly large debt traps and forced the Third World to focus on producing goods for consumption in the West, instead of growing consumption and industry at home. The Bank and the Fund's "development and assistance" has been anything but. The reality is a history of neocolonial exploitation with shocking results.
"In reading through Alex's brilliant and comprehensive treatise,
you will be investigating the big economic lie of our world at its
root: that the powerful help the weak. Following that, you will
face an important choice. What system do you choose?"- Jeff Booth,
Author, Price of Tomorrow, and GP, Ego Death Capital "Although
Gladstein's book rages against the injustice that characterizes the
neoliberal economic model and the Bretton Woods institutions, it
ultimately offers a glimmer of hope by demonstrating how Bitcoin,
with its liberating philosophy, decentralized technology, and
immutable functionality can help free nations and peoples from the
debt trap."- Farida Nabourema, Togolese writer, human rights
defender, and Pan-Africanist "Alex Gladstein has written a powerful
examination of an immensely important question that is usually
overlooked in academia and media: What gives the World Bank and IMF
such exorbitant power over the politics and finances of developing
countries? By examining the monetary foundations of the question,
Alex offers an astute assessment of the perverse incentives facing
international financial institutions, and a compelling explanation
for why the real beneficiaries of their programs are western
financial institutions and governments, while the victims are the
world's poorest people."- Saifedean Ammous, Author, The Bitcoin
Standard and The Fiat Standard
In reading through Alex's brilliant and comprehensive treatise, you
will be investigating the big economic lie of our world at its
root: that the powerful help the weak. Following that, you will
face an important choice. What system do you choose?-Jeff Booth,
Author, Price of Tomorrow, and GP, Ego Death Capital Although
Gladstein's book rages against the injustice that characterizes the
neoliberal economic model and the Bretton Woods institutions, it
ultimately offers a glimmer of hope by demonstrating how Bitcoin,
with its liberating philosophy, decentralized technology, and
immutable functionality can help free nations and peoples from the
debt trap.-Farida Nabourema, Togolese writer, human rights
defender, and Pan-Africanist Alex Gladstein has written a powerful
examination of an immensely important question that is usually
overlooked in academia and media: What gives the World Bank and IMF
such exorbitant power over the politics and finances of developing
countries? By examining the monetary foundations of the question,
Alex offers an astute assessment of the perverse incentives facing
international financial institutions, and a compelling explanation
for why the real beneficiaries of their programs are western
financial institutions and governments, while the victims are the
world's poorest people.-Saifedean Ammous, Author, The Bitcoin
Standard and The Fiat Standard
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