The IMF and World Bank: Partners In Backwardness

Guest: Michael Hudson

Michael Hudson discusses his seminal work of 1972, Super Imperialism: The Economic Strategy of American Empire, a critique of how the US exploits foreign economies through IMF and World bank debt; difference between the IMF and World Bank; World Bank dysfunctional from the outset; loans made in foreign currency only; policy to provide loans for countries to devote their land to export plantation crops; US food and monetary imperialism; U.S. agricultural protectionism built into the postwar global system; promotion of dependency on the US as food supplier; food blackmail; perpetration of world poverty preferred; no encouragement of land reform; privatization of the public domain; America aided, not foreign economies; exploitation of mineral deposits; bribery; foreign nations politically controlled at the top; veto power for US only.

1 Comment

Sharon Greenberg - July 5th, 2019 at 8:23pm

I have been following Michael Hudson for a few years now, but I had never gone back to his 1972 work. The USA empire is more pernicious than even I had realized based only of my readings of Michael Hudson's latest books.