The World Bank: A Critical History

The Bretton Woods Conference established the World Bank as a powerful financial institution with a global agenda. Eric Toussaint's book "The World Bank: A Critical History" provides an authoritative account of its operations, funding, and impact, including case studies and an exploration of the US government's motives. It concludes with a proposal for replacing the World Bank with new, multilateral institutions.

Format: Hardback
Length: 432 pages
Publication date: 20 August 2023
Publisher: Pluto Press

The Bretton Woods Conference in 1944 marked a significant shift in the global economic landscape, giving rise to the World Bank as one of the most influential financial institutions worldwide. While it assumed a new colonial authority in many aspects, its operations and funding remain shrouded in mystery. In his comprehensive book, The World Bank: A Critical History, Eric Toussaint delves deep into the workings of this institution, examining its history, policies, and impact on the world.

Toussaint's book offers a highly accessible yet authoritative account of the World Bank, spanning from its inception to the present day. It provides a comprehensive analysis of the bank's functions, governance, and funding mechanisms, shedding light on the complex web of actors and interests involved.

Chapters on gender, climate change, and the pandemic era complement the author's previous work, The World Bank: A Critical Primer, and offer a timely and relevant perspective on the bank's role in addressing these global challenges. The book's case studies illustrate the real-world impact of World Bank policies, showcasing both successes and failures in achieving development goals.

Furthermore, Toussaint delves into the political, economic, and strategic motives of the US government in relation to the World Bank. He challenges the notion that the bank operates solely in the interests of developing countries and exposes the complex web of power dynamics and interests at play.

The book concludes with a provocative proposal for replacing the World Bank, International Monetary Fund (IMF), and World Trade Organization (WTO) with new, multilateral, and democratic institutions. Toussaint argues that these organizations have failed to address the needs of developing countries and have perpetuated inequality and poverty worldwide. He advocates for a more equitable and sustainable global economic system that prioritizes the well-being of all people and the planet.

In conclusion, The World Bank: A Critical History by Eric Toussaint is a must-read for anyone interested in understanding the workings of the world's largest financial institution and its impact on global development. The book offers a comprehensive and timely analysis of the bank's history, policies, and challenges, providing valuable insights into the complex web of power and interests that shape global economic policy. Toussaint's proposal for replacing the current institutions with new, democratic ones is a bold and visionary step toward a more equitable and sustainable future.

Weight: 640g
Dimension: 159 x 242 x 39 (mm)
ISBN-13: 9780745348285