Michael Hudson's study of US financial diplomacy explores the faults built into the core of the World Bank and the IMF at their inception which - he argues - were intended to preserve the US's financial hegemony.

Autorentext

Michael Hudson is an economist who has worked for Chase Manhattan Bank, Arthur Andersen and Co., and the Hudson Institute. He has taught at New York University and the New School. He is author of Global Fracture (Pluto, 2005) and Super Imperialism (Pluto, 2003).

Klappentext

This book describes the genesis of America's political and financial domination. Michael Hudson's study of US financial diplomacy explores the faults built into the core of the World Bank and the IMF at their inception which, he argues, were intended to preserve the US's financial hegemony. Difficult to detect at the time, these problems have since become explicit as the failure of the international economic system has become obvious; the IMF and World Bank were set up to give aid to developing countries, but instead many of the world's poorest countries have been plunged into insurmountable debt crises. Hudson's critique of the destructive course of the international economic system provides important insights into the real motivations at the heart of these institutions - and the increasing tide of opposition that they face around the world.

Zusammenfassung
Investigates the genesis of the US's political and financial domination of today's economic system.

Inhalt
Preface to the second edition, 2002; Birth of the American World Order - 1914-1946: Origins of Inter-Governmental Debt, 1917-1921; Breakdown of World Balance, 1921-1933; America Spurns World Leadership; Lend-Lease and the Fracturing of BritainAs Empire, 1941-1945, Bretton Woods - The Triumph of U.S. Government Finance Capital, 1944-1945; Isolating the Communist Bloc, 1945-1946. The institution of American empire: American Strategy within the World Bank; The Imperialism of U.S. Foreign Aid; GATT and the Double Standard; Dollar Domination through the IMF. Monetary Imperialism and the U.S. Treasury-Bill standard: Financing AmericaAs Wars with Other NationsA Resources, 1964-1968; Power through Bankruptcy, 1968-1970; Perfecting Empire through Monetary Crisis, 1970-1972; The Monetary Offensive of Spring 1973; Monetary Imperialism.