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'Superior … a broad ranging guide that explains the global power structure over the last eight decades. The history of the World Bank and its frequent support of dictatorships in the Global South clarifies the nexus between high finance and power politics.' -- Carlos Marichal, El Colegio de México 'The World Bank's many critics usually urge institutional redemption through reforms. In this harsh and thorough indictment, Eric Toussaint blasts those hopes. Covering the history of the Bank from its early days as a prop to European colonialism through the Rwandan genocide, the Washington Consensus and the Iraq war, he argues that the Bank is incorrigible and should, therefore, be abolished. Read and judge for yourselves.' -- James K. Galbraith, author, 'Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe' 'The record of lending to authoritarian regimes … invites fresh thinking on the need to streamline human rights considerations into development lending. Recommended reading to get a different view of the Bretton Woods institutions.' -- Andrés Solimano, founder, International Center for Globalization and Development 'Eric Toussaint's book could not be more opportune as the world enters a dangerous period of potential geopolitical conflict. Toussaint exposes, with chapter and verse, the role of the World Bank (and other 'Bretton Woods institutions) as tools for the financial control of the world - in particular, the exploitation of the Global South through the manipulation of debt.  The World Bank is found not to be a great institution to reduce global poverty, but on the contrary, to perpetuate it.' -- Michael Roberts, Economist and co-author of 'Capitalism in the 21st Century'

'Superior … a broad ranging guide that explains the global power structure over the last eight decades. The history of the World Bank and its frequent support of dictatorships in the Global South clarifies the nexus between high finance and power politics.' -- Carlos Marichal, El Colegio de México 'The World Bank's many critics usually urge institutional redemption through reforms. In this harsh and thorough indictment, Eric Toussaint blasts those hopes. Covering the history of the Bank from its early days as a prop to European colonialism through the Rwandan genocide, the Washington Consensus and the Iraq war, he argues that the Bank is incorrigible and should, therefore, be abolished. Read and judge for yourselves.' -- James K. Galbraith, author, 'Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe' 'The record of lending to authoritarian regimes … invites fresh thinking on the need to streamline human rights considerations into development lending. Recommended reading to get a different view of the Bretton Woods institutions.' -- Andrés Solimano, founder, International Center for Globalization and Development 'Eric Toussaint's book could not be more opportune as the world enters a dangerous period of potential geopolitical conflict. Toussaint exposes, with chapter and verse, the role of the World Bank (and other 'Bretton Woods institutions) as tools for the financial control of the world - in particular, the exploitation of the Global South through the manipulation of debt.  The World Bank is found not to be a great institution to reduce global poverty, but on the contrary, to perpetuate it.' -- Michael Roberts, Economist and co-author of 'Capitalism in the 21st Century' 'Éric Toussaint's detailed and powerful indictment of the World Bank emerges at a vital time. It should be read by all who want to challenge domination and exploitation and contribute to the struggle for global justice.' -- 'Counterfire'

'Superior … a broad ranging guide that explains the global power structure over the last eight decades. The history of the World Bank and its frequent support of dictatorships in the Global South clarifies the nexus between high finance and power politics.' -- Carlos Marichal, El Colegio de México

'Superior … a broad ranging guide that explains the global power structure over the last eight decades. The history of the World Bank and its frequent support of dictatorships in the Global South clarifies the nexus between high finance and power politics.' -- Carlos Marichal, El Colegio de México 'The World Bank's many critics usually urge institutional redemption through reforms. In this harsh and thorough indictment, Eric Toussaint blasts those hopes. Covering the history of the Bank from its early days as a prop to European colonialism through the Rwandan genocide, the Washington Consensus and the Iraq war, he argues that the Bank is incorrigible and should, therefore, be abolished. Read and judge for yourselves.' -- James K. Galbraith, author, 'Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe' 'The record of lending to authoritarian regimes … invites fresh thinking on the need to streamline human rights considerations into development lending. Recommended reading to get a different view of the Bretton Woods institutions.' -- Andrés Solimano, founder, International Center for Globalization and Development

Author Information

Éric Toussaint is a historian and political scientist with a PhD from the Universities of Paris VIII and Liège. He is spokesperson for the CADTM (Committee for the Abolition of Illegitimate Debt) of which he is one of the founding members. He took part in the process that launched the World Social Forum in 2001. He is the author of numerous books, including The Debt System; Bankocracy, and Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers. Gilbert Achcar teaches at the School of Oriental and African Studies.

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