The Market Tells Them So
 

 

The Market Tells Them So
The World Bank and Economic Fundamentalism

Mihevc, John
Publisher:  Third World Network, Penang, Malaysia
Year Published:  1995  
Pages:  313pp   Price:  $15  
Resource Type:  Book
Cx Number:  CX9217

Mihevic asserts that World Bank policy can be viewed as a powerful fundamentalist quasi-religion whose effect is to perpetuate and even worsen inequities between developed and developing countries.


Abstract:  In this documented history of large scale aid to Africa. Mihevic explains the role of the Structural Adjustment Programs (SAPs) of the World Bank and their impact on developing nations. Mihevic asserts that World Bank policy can be viewed as a powerful fundamentalist quasi-religion where "believing " nations will reap an an otherworldly future. He highlights the current debt crisis and accompanying shift in the balance of power between capital industry and labour. Also looked at is the impact of these policies on women in Less Developed Countries (LDCs) and the dangers associated with mutinational trade agreements and biotechnology applications. A further segment details the catastrophic impact on Ghana of World Bank economic policies. He maintains that the programs of the World Bank perpetuate and even worsen inequities between developed and developing countries. As a member of the Inter-Church Coalition on Africa Mihevic describes alternative approaches taken by church groups at the local level.

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