Dark Victory - (Transnational Institute Series) 2nd Edition by Walden Bello & Shea Cunningham (Paperback)

Book Synopsis

As we enter the 21st century, many countries of the South are in a state of economic crisis, with once optimistic visions of the future cruelly dashed by rising mass poverty, inequality, and hunger. At the same time, working people in the North find their living standards declining. Dark Victory reveals the roots of these global trends in a sweeping strategy of global economic rollback unleashed by the US to shore up the North's domination of the international economy and reassert corporate control.

Bello argues that lower barriers to imports, removal of restrictions on foreign investments, privatization of state-owned activities, reduction in social welfare spending, and wage cuts and devaluation of local currencies-all conditions of structural adjustment loans from the North-have had disastrous consequences. Hailed as a classic study of global poverty, Dark Victory is now reissued with a new epilogue by the authors.

Review Quotes

Praise for Dark Victory

"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

"A book that progressive political leaders the world over should read and take to heart..."

-David C. Korten, executive director of People-Centered Development Forum