Faith and credit the world banks secular empire. Read Faith And Credit: The World Bank s Secular Empire 2019-03-14

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Faith and Credit

faith and credit the world banks secular empire

The faith they serve is itself a greater good in whose name present suffering is mysteriously transformed into future salvation. Faced with these contradictions, the Bank is increasingly struggling to reconcile the roles of commercial lender, policymaker, and great humanitarian. Everywhere the market would already be the sole guiding principle of society and, if it were, in the Bank's own view, there would be no underdevelopment, no South, no need for modernization or for structural adjustment -- and no need for the Bank. A price has a metaphysical quality because it is supposed to be the invisible point at the intersection between hundreds, thousands, millions of individual transactions. Both celebrate the poor rhetorically while refraining from actually improving their capacity to change their earthly lot. They reveal a supranational, nondemocratic, and extremely powerful institution that functions much like the medieval church or a monolithic political party, relying on rigid doctrine, hierarchy, and a rejection of dissenting ideas to perpetuate its influence.

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The World Bank's secular empire

faith and credit the world banks secular empire

She similarly criticizes the structural reform policies of the Washington Consensus on Third World development. They have not established reliable and recognized criteria for determining whether development has in fact occurred, except for internal economic indicators like the rate of return of an individual project or the growth of Gross National Product - themselves artificial constructions and articles of faith. Religion cannot, by definition, be validated or invalidated, declared true or false - only believed or rejected. If the New Man finds his life in the market, what of his death? This is why throughout the book we have spoken of beliefs, faith, doctrine, prophecy, and fundamentalism; of ancestors, initiation, esprit de corps, intellectual leadership and rule. In this richly illuminating and lively overview Susan George and Fabrizio Sabelli examine the Bank's policies, its internal culture and the interests it serves. The Bank resembles the Church and this will be a guiding analogy in these pages.

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Faith and Credit

faith and credit the world banks secular empire

The virtues of the New Economic Man, whose dwelling place is the market, are the will and the capacity to accumulate, to follow self-interest and to maximize profit in all things. Although it claims to be a purely economic institution, the Bank wields enormous political power and has succeeded in making its own view of development appear to be the norm. Although it cannot prove that anyone has ever gone there, it still issues the visas to the promised land. The Bank's second function is to act as a guide. Borrowing from French sociologist Pierre Bourdieu, we can say that the Bank is powerful because of its capacity constantly to exchange economic capital for symbolic capital and vice versa.

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FAITH AND CREDIT: THE WORLD BANK'S SECULAR EMPIRE by GEORGE, Susan, and SABELLI, Fabrizio

faith and credit the world banks secular empire

Here we face a contradiction. Faced with these contradictions, the Bank is increasingly struggling to reconcile the roles of commercial lender, policymaker, and great humanitarian. Those who believe that its own doctrine is that of laisser-faire are mistaken. Thus it helps return them to the straight and narrow path or, in its own words, puts them back on-track. Once revealed, they must be followed. She is a fellow and president of the board of the Transnational Institute in Amsterdam. For the same reasons we think we need the Church.

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Read Faith And Credit: The World Bank s Secular Empire

faith and credit the world banks secular empire

Defiant countries that refuse them outright are blacklisted, literally excommunicated from the international community. Its prestige in turn generates more financial and economic power. It is the foundations of that world-view we shall try to dig for. Thus the state, like the traditional society based on reciprocity, is under threat from the Bank. Its faith in orthodox economics, the idea of perpetual growth, and the capacity of the market to solve development problems is incompatible with its professed goals of helping the poor and protecting the environment. She works with a number of nongovernmental organizations and serves on the boards of Greenpeace International and Greenpeace France. Man must be ontologically reconstructed and redeemed as homo economicus.

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The World Bank's secular empire

faith and credit the world banks secular empire

The Bank's priesthood specifically denies limits to growth and promises an ersatz eternity in the here-and-now. Facts are irrelevant to belief: they belong to another sphere of reality. Normally, development theorists and practitioners should also be trained to test their hypotheses by observing what they do to people, since human welfare is presumably the goal of development. Or to borrow an old favourite from secular religion, eggs must and will be broken. In this richly illuminating and In its fifty years of existence, the World Bank has influenced more lives in the Third World than any other institution, yet it remains largely unknown, even enigmatic.

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Faith And Credit: The World Bank's Secular Empire

faith and credit the world banks secular empire

In this richly illuminating and lively overview, Susan George and Fabrizio Sabelli examine the Bank's policies, its internal culture, and the interests it serves. When, however, the faith achieves political hegemony as well, like the medieval Church or the Bolsheviks, or the Ayatollahs , it is in a position to make people offers they can't refuse, or to make their lives extremely uncomfortable if they do. They reveal a supranational, nondemocratic, and extremely powerful institution that functions much like the medieval church or a monolithic political party, relying on rigid doctrine, hierarchy, and a rejection of dissenting ideas to perpetuate its influence. She works with a number of nongovernmental organizations and serves on the boards of Greenpeace International and Greenpeace France. The Bank has dug passageways and built bridges that allow it continually to shuttle between material and non-material wealth, to transform one kind of capital investment into another and to reap all the rewards of both. Throughout these pages we have tried to determine what the Bank is and at the end of the enterprise we, too, are tempted to call it the Thing because, although we think we have made progress, to some degree it remains fascinating and mysterious.

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Faith and credit : the World Bank's secular empire (Book, 1994) [baldwinboyshighschool.com]

faith and credit the world banks secular empire

Faced with these contradictions, the Bank is increasingly struggling to reconcile the roles of commercial lender, policymaker, and great humanitarian. What they could not find close at hand, they sought at the regional or national level. She is a fellow and president of the board of the Transnational Institute in Amsterdam. In its fifty years of existence, the World Bank has influenced more lives in the Third World than any other institution, yet it remains largely unknown, even enigmatic. A doctrine need not be true to move mountains or to provoke manifold material and human disasters. The Bank will reward or punish them by the granting or withholding of loans and credits. They reveal a supranational, non-democratic and extremely powerful institution which functions much like the medieval Church or a monolithic political party, relying on rigid doctrine, hierarchy and a rejection of dissenting ideas to perpetuate its influence.

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TecaLibri: Susan George: opere

faith and credit the world banks secular empire

This book is crucial reading for anyone interested in development and economy of the Third World, especially for international, political, and development economists. One thing about the Thing is certain: it is not powerful because it is a bank; that is, in ordinary language, a purely economic entity. His wants are unlimited; to satisfy them, he must learn to struggle against his fellows. If unemployment in their country is twenty per cent or more, the New Men and Women will pit themselves against each other to find work at any price, at all costs. What is redemption if not the passage from one state to another, from darkness to light? If such endless growth is supposed to lead to an American or European middle-class standard of living for over five billion people today and who knows how many tomorrow, we already know this to be an ecological and biospheric impossibility, even assuming tremendous and rapid changes in technology.

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