The Origin and Fundamentals of U.S. World Dominance
Investigates the genesis of the US's political and financial domination of today's economic system.
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.
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).
'Illuminates one of the most powerful forces in global economics - one which is hidden, and widely misunderstood - this book is vital reading' - Ann Pettifor
'One of the most important books of this century. It is the first work to synthesise the new and different forms which capitalist imperialism has assumed' - Terence McCarchy, Columbia University
I. BIRTH OF THE AMERICAN WORLD ORDER: 1914-1946
1. Origins of Inter-Governmental Debt, 1917-1921
2. Breakdown of World Balance, 1921-1933
3. America Spurns World Leadership
4. Lend-Lease and the Fracturing of Britain’s Empire, 1941-1945
5. Bretton Woods: The Triumph of US Government Finance Capital, 1944-1945
6. Isolating the Communist Bloc, 1945-1946
II. THE INSTITUTIONS OF AMERICAN EMPIRE
7. American Strategy within the World Bank
8. The Imperialism of US Foreign Aid
9. GATT and the Double Standard
10. Dollar Domination through the IMF
III. MONETARY IMPERIALISM AND THE US TREASURY-BILL STANDARD
11. Financing America’s Wars with Other Nations’ Resources, 1964-1968
12. Power through Bankruptcy, 1968-1970
13. Perfecting Empire through Monetary Crisis, 1970-1972
14. The Monetary Offensive of Spring 1973
15. Monetary Imperialism
150mm x 230mm