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Super Imperialism - New Edition: The Origin and Fundamentals of U.S. World Dominanceby Michael Hudson
Synopses & Reviews
Michael Hudson's brilliant shattering book will leave orthodox economists spluttering. Classical economists don't like to be reminded of the ugly realities of Imperialism. Hudson is one of the tiny handful of economic thinkers in today's world who are forcing us to look at old questions in startling new ways. Alvin Toffler, best-selling author of Future Shock and The Third WaveThis new and completely revised edition of Super Imperialism describes the genesis of America's political and financial domination. Michael Hudson's in-depth and highly controversial study of U.S. 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 apparent; 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.
Book News Annotation:
First published in 1972 under the similar title , this book argues that U.S. financial diplomacy has been geared towards artificially propping up the American economy at the expense of the rest of the world. Hudson (economics, U. of Missouri) identifies three distinct periods in U.S. financial diplomacy following World War I. He describes how the establishment Bretton Woods organizations (the GATT, the IMF, and the World Bank) and U.S. Foreign Aid were used to extend dollar domination of the world's economy. Also discussed is how the balance of payments debt built up during expansion of militarist spending during the Vietnam War was turned to the advantage of the American Empire by forcing other governments to invest in U.S. Treasury bills. This new edition has been expanded to cover the monetary crisis that was breaking out as the first edition went to print. Distributed by Stylus. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com)
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.
Investigates the genesis of the US's political and financial domination of today's economic system. 'One of the most important books of this century.' Terence McCarchy, Columbia University
Includes bibliographical references (p. 394-412) and index.
About the Author
Michael Hudson is an independent Wall Street Financial Analyst. He has taught in the New School of New York and at the University of Kansas Missouri. He has published widely on the topic of the USs financial dominance.He has held the position of financial analyst for the Vatican for three years, and has also been an economic advisor to the Canadian, Mexican, Japanese and S Korean governments.
Table of Contents
BIRTH OF THE AMERICAN WORLD ORDER: 1914-46 — Origins of Intergovernmental Debt, 1917-21 — Breakdown of World Balance, 1921-33 — America Spurns World Leadership — Lend-Lease and Fracturing of the British Empire, 1941-45 — Bretton Woods: The Triumph of U.S. Government Finance Capital, 1944-45 — Isolating the Communist Bloc, 1945-46 — THE INSTITUTIONS OF THE AMERICAN EMPIRE — American Strategy within the World Bank — The Imperialism of U.S. Foreign Aid — GATT and the Double Standard — Dollar Domination through the International Monetary Fund, 1945-46 — MONETARY IMPERIALISM AND THE U.S. TREASURY BILL STANDARD — Financing America's Wars with Other Nations' Resources, 1964-68 — Power through Bankruptcy, 1968-70 — Perfecting Empire through Monetary Crisis, 1970-72 — The Monetary Offensive of Spring 1973 — Monetary Imperialism: The Twenty-first Century.
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