Dark Victory
Walden Bello with Shea Cunningham and Bill Rau
Third World Network
ISBN: 983-9747-10-X 148 pages 14x21.5cm
Third World: US$6.00
Others: US$9.00

Hunger and malnutrition stalk the countries of the South. Over the last twenty years, as the populations of Third World countries have increased, so too has mass poverty on a grotesque scale.

In this fiercely critical study of Western aid giving. Walden Bello offers a persuasive argument that recolonisation of the Third World has been carried out through agencies of the international Banks. Bello argues that the Reagan administration came to power with an agenda to 'discipline the Third World' and the consequences of such a policy has resulted in lower barriers to imports, the removal of restrictions on foreign investments, privatisation of state owned activities, a reduction in social welfare spending, wage cuts and devaluation of local currencies. Recipients of any lending from the World Bank, or any other Western agency, have been forced to accept such policies, with disastrous consequences.


About the Author and his Associates
Foreword by Susan George
List of Acronyms

1 Introduction: the Great Reversal Springtime of Freedom.....or Time of Troubles?
Global Rollback
Conspiracy or Ideology?
Dismantling the Activist State
Barbarians at the Gates

2 Challenge from the South Southern Sunrise
State and the Market in the Third World
Diversity and Unity

3 Liberalism and Containment
Liberalism and Anti-Communism: the Peculiar Mix
The Collapse of Containment Liberalism

4 Reaganism and Rollback The Worldview of Reaganism
The Reaganite View of the South
The Vulnerable South
Harnessing the World Bank
Selling SALs
The Debt Crisis and the Globalization of Adjustment

5 Adjustment: the Record A sorry Record at Best
Explaining Stagnation: 'Macro-Shocks' or Structural Distortions?
The Southeast Asian Case
Prescription for Stagnation
Mexico: Model Reformer?
Chile as an Economic Laboratory
Ghana: Beacon for Africa?

6 Adjustment: the Costs Misery: a Global Survey
Questionable Evidence
Adjusting the Environment
Intensified Resource Extraction in Chile
Adjustment and Deforestation in Costa Rica
SAP and Ghana's Environment
Intesifying the Philippine Environment Crisis

7 Adjustment: the Outcome
Ending the Creditors' Crisis
The New South

8 Resubordinating the NICs
From Allies to Targets
Penalizing Success: the Case of South Korea
Universalized GATT as a Weapon
'The One and Only Path'

9 Adjusting America
Political Economy of the New Deal
State Collapse of the Social Contract
Reaganism: from Ideology to Policy
The Coming of the 'Service Economy'
NAFTA: Securing a Cheap Labor Preserve
The Third Worldization of America
Accelerating Decline
The 'Human Capital' Question
US Capital and Global Adjustment

10 The Dark Victory
Shutting out the South
Protracted War
The 'Islamic Threat'
Heading off Disaster

11 Epilogue: the Battle for the 21st Century
The Faces of Barbarism
No Room for Nostalgia
Checking Capitalism's Logic
Cooperation and Competition
Internationalizing Cooperative Organization
The Struggle for the Future

Notes and References

Appendix: Tables
1: IMF and World Bank Stabilization and Structural Adjustment Loans, 1980-1991
2: Rates of Poverty and Indigence in Selected Latin American Countries
3: External Accounts of Selected Third World Countries, 1982 and 1991
4: Voluntary Export Restraints and Related Measures Imposed by the US, 1980-1991
5: Shares of US Family Income Going to Various Fifths, and to Top 5% 1973-1991
6: Changes in Distribution of US Net World, 1962-1989
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