Dark Victory: The United States and Global Poverty: Transnational Institute Series

Bello argues that lower barriers to imports, removal of restrictions on foreign investments, privatization of state-owned activities, reduction in social welfare spending, and wage cuts and devaluation of local currencies-all conditions of structural adjustment loans from the North-have had disastrous consequences. Hailed as a classic study of global poverty, Dark Victory is now reissued with a new epilogue by the authors.