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A committed, thoughtful, closely and rigorously-argued work. This book explains the most important constraints to economic development today. An essential contribution to understanding economic 'development' in our troubled times. The most relevant analysis of how money and capitalist power reproduce poverty in today's world. (Professor Alfredo Saad Filho, Head of Department of Development Studies, School of Oriental and African Studies, University of London. )
Sarah Bracking exposes in meticulous and elegant detail the economic and political interests that lie behind aid. The books great strength lies in its insistance on viewing the institutions that promote and service the development industry ... through the lens of power relations. In a strikingly original analysis, Bracking pushes explanations of the failures of development. (Nick Hildyard works with the Corner House, a UK research and solidarity group focusing on human rights, environment and development. )
Our understanding of allegedy 'concessional' finance and donor credit will never be the same, what with Bracking's critique of predatory multilateral and bilateral institutions. Now ... we can get back to a rigorous political economy of finance and uneven development, of which this is a cutting-edge example. (Patrick Bond, Senior Professor, University of KwaZulu-Natal School of Development Studies, Durban, South Africa )
The message of this book is urgent and timely. Bracking’s Money and Power is a clear and trenchant indictment of the view that private capital has the interest and capacity to develop the Global South. She shows [and documents] in graphic detail how the private sector exacts a profit in developing countries alongside the rhetoric of poverty reduction and promotion of development. (Raymond Bush, Professor in African Studies and Development Politics, University of Leeds )
Bracking’s book ... may offer a prospect for promoting greater international justice and equity between states. ... This is an especially important contribution because ... [it] deliver[s] important detail about how northern elites and businesses, under the guise of development maintain and promote international inequality. (Raymond Bush, Professor in African Studies and Development Politics, University of Leeds )
Sarah Bracking exposes in meticulous and elegant detail the economic and political interests that lie behind aid. The books great strength lies in its insistance on viewing the institutions that promote and service the development industry ... through the lens of power relations. In a strikingly original analysis, Bracking pushes explanations of the failures of development. (Nick Hildyard works with the Corner House, a UK research and solidarity group focusing on human rights, environment and development. )
Our understanding of allegedy 'concessional' finance and donor credit will never be the same, what with Bracking's critique of predatory multilateral and bilateral institutions. Now ... we can get back to a rigorous political economy of finance and uneven development, of which this is a cutting-edge example. (Patrick Bond, Senior Professor, University of KwaZulu-Natal School of Development Studies, Durban, South Africa )
The message of this book is urgent and timely. Bracking’s Money and Power is a clear and trenchant indictment of the view that private capital has the interest and capacity to develop the Global South. She shows [and documents] in graphic detail how the private sector exacts a profit in developing countries alongside the rhetoric of poverty reduction and promotion of development. (Raymond Bush, Professor in African Studies and Development Politics, University of Leeds )
Bracking’s book ... may offer a prospect for promoting greater international justice and equity between states. ... This is an especially important contribution because ... [it] deliver[s] important detail about how northern elites and businesses, under the guise of development maintain and promote international inequality. (Raymond Bush, Professor in African Studies and Development Politics, University of Leeds )
Review
A committed, thoughtful, closely and rigorously-argued work. This book explains the most important constraints to economic development today. An essential contribution to understanding economic 'development' in our troubled times. The most relevant analysis of how money and capitalist power reproduce poverty in today's world. -- Professor Alfredo Saad Filho, Head of Department of Development Studies, School of Oriental and African Studies, University of London. Sarah Bracking exposes in meticulous and elegant detail the economic and political interests that lie behind aid. The books great strength lies in its insistance on viewing the institutions that promote and service the development industry ... through the lens of power relations. In a strikingly original analysis, Bracking pushes explanations of the failures of development. -- Nick Hildyard works with the Corner House, a UK research and solidarity group focusing on human rights, environment and development. Our understanding of allegedy 'concessional' finance and donor credit will never be the same, what with Bracking's critique of predatory multilateral and bilateral institutions. Now ... we can get back to a rigorous political economy of finance and uneven development, of which this is a cutting-edge example. -- Patrick Bond, Senior Professor, University of KwaZulu-Natal School of Development Studies, Durban, South Africa The message of this book is urgent and timely. Bracking's Money and Power is a clear and trenchant indictment of the view that private capital has the interest and capacity to develop the Global South. She shows [and documents] in graphic detail how the private sector exacts a profit in developing countries alongside the rhetoric of poverty reduction and promotion of development. -- Raymond Bush, Professor in African Studies and Development Politics, University of Leeds Bracking's book ... may offer a prospect for promoting greater international justice and equity between states. ... This is an especially important contribution because ... [it] deliver[s] important detail about how northern elites and businesses, under the guise of development maintain and promote international inequality. -- Raymond Bush, Professor in African Studies and Development Politics, University of Leeds
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Most Helpful Customer Reviews
2 of 2 people found the following review helpful
Format:Paperback
I really enjoyed reading Money and Power. Sarah's ability to make the complex simple and to complicate the overly-simplified is a real treat.
I work with people studying international development at the graduate level. Every day, I am relieved to find among these students a large number of creative, curious, critical people who are open to questioning themselves, their motivations and abilities, and the nature and purpose of development. They are the best audience for political economist Sarah Bracking's Marxist structural analysis of `Development,' a comprehensive, incisive study of Development Finance Institutions (DFIs), a web of public-private entities that control the global flow of money in the form of investment, debt and aid (and how these terms are applied and defined) and serve, in Sarah's view, to `take away people's assets and livelihoods, impoverish them, and then stymie people's efforts, alongside development workers, to help themselves recover.' `Development' itself is part of the global mechanism that manage who is poor and who is rich, and `the global development "budget" is no more than a small palliative, a sophisticated public relations machine,' that maintains the fantastical `notion of benevolent... assistance.' She backs up these big claims with readable, thorough theory and analysis, and current case studies.
She maps how DFIs, the `Great Predators,' direct capital to the global elite and debts to the poorest in language accessible to us non-economists, explaining for example, what markets are, how they are made, and what purposes they serve, a talent consistent with her belief that `technical language... serves to hide and mystify more general relationships of social power, privilege, and status and critically obscures how the divide between the global haves and have nots is maintained....' I find her focus on the `actual institutions and agents that `do' the development' refreshing and non-ideological; she avoids dogmatic posturing. She explains how this web of DFIs function in order to understand a direction for our collective energy and creativity: the `democratic reform of the regulation of money and its institutional system of supply.' We must `"structurally adjust" the nature of markets in favour of the poor and excluded. Markets are managed, so how that is done both shapes social and economic outcomes, and can be the subject of change.'
Her claim that development (re)produces rather than reduces poverty may be a lot to stomach, especially for those who hope that development offers a home for their passion to make change. But in my experience, students are not buying the rhetoric of development, and are alert to the crumbling institutional `ability to sell the development project as a benevolent gift to the poor, while simultaneously pursuing the export of capital from the North and the reconstruction of North power and privilege.' When people enter the field of 'development' is the crucial moment to read Sarah's analysis, before their creativity and ethics are trained out of them by a dominant discourse and practice of inequality, before they confuse GDP with wellbeing. This is the moment to explore Sarah's question (and her response in this text) `how are resources owned, used and distributed, and how democratic is the procedure which makes these decisions?' And this is the audience to respond to her call for democratic change.
I work with people studying international development at the graduate level. Every day, I am relieved to find among these students a large number of creative, curious, critical people who are open to questioning themselves, their motivations and abilities, and the nature and purpose of development. They are the best audience for political economist Sarah Bracking's Marxist structural analysis of `Development,' a comprehensive, incisive study of Development Finance Institutions (DFIs), a web of public-private entities that control the global flow of money in the form of investment, debt and aid (and how these terms are applied and defined) and serve, in Sarah's view, to `take away people's assets and livelihoods, impoverish them, and then stymie people's efforts, alongside development workers, to help themselves recover.' `Development' itself is part of the global mechanism that manage who is poor and who is rich, and `the global development "budget" is no more than a small palliative, a sophisticated public relations machine,' that maintains the fantastical `notion of benevolent... assistance.' She backs up these big claims with readable, thorough theory and analysis, and current case studies.
She maps how DFIs, the `Great Predators,' direct capital to the global elite and debts to the poorest in language accessible to us non-economists, explaining for example, what markets are, how they are made, and what purposes they serve, a talent consistent with her belief that `technical language... serves to hide and mystify more general relationships of social power, privilege, and status and critically obscures how the divide between the global haves and have nots is maintained....' I find her focus on the `actual institutions and agents that `do' the development' refreshing and non-ideological; she avoids dogmatic posturing. She explains how this web of DFIs function in order to understand a direction for our collective energy and creativity: the `democratic reform of the regulation of money and its institutional system of supply.' We must `"structurally adjust" the nature of markets in favour of the poor and excluded. Markets are managed, so how that is done both shapes social and economic outcomes, and can be the subject of change.'
Her claim that development (re)produces rather than reduces poverty may be a lot to stomach, especially for those who hope that development offers a home for their passion to make change. But in my experience, students are not buying the rhetoric of development, and are alert to the crumbling institutional `ability to sell the development project as a benevolent gift to the poor, while simultaneously pursuing the export of capital from the North and the reconstruction of North power and privilege.' When people enter the field of 'development' is the crucial moment to read Sarah's analysis, before their creativity and ethics are trained out of them by a dominant discourse and practice of inequality, before they confuse GDP with wellbeing. This is the moment to explore Sarah's question (and her response in this text) `how are resources owned, used and distributed, and how democratic is the procedure which makes these decisions?' And this is the audience to respond to her call for democratic change.
1 of 1 people found the following review helpful
Format:Paperback
This is really quite an extraordinary book. It is not clear from the title, but it contains a comprehensive critique of the way aid organisations do business in the private sectors of the South. It shows how this supports power relations that are of benefit to the North. If you were wondering why lots of money seems to be sent to help countries develop, but they never do, then here is your answer - it returns back to the centres of global power without funding much of anything that helps the poor - and they have to pay it back - and inequality is reproduced! A must read. Will become a classic
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
1 review
required reading for students in int'l dev
28 Nov 2009
Format:Paperback
I really enjoyed reading Money and Power. Sarah's ability to make the complex simple and to complicate the overly-simplified is a real treat.
I work with people studying international development at the graduate level. Every day, I am relieved to find among these students a large number of creative, curious, critical people who are open to questioning themselves, their motivations and abilities, and the nature and purpose of development. They are the best audience for political economist Sarah Bracking's Marxist structural analysis of `Development,' a comprehensive, incisive study of Development Finance Institutions (DFIs), a web of public-private entities that control the global flow of money in the form of investment, debt and aid (and how these terms are applied and defined) and serve, in Sarah's view, to `take away people's assets and livelihoods, impoverish them, and then stymie people's efforts, alongside development workers, to help themselves recover.' `Development' itself is part of the global mechanism that manage who is poor and who is rich, and `the global development "budget" is no more than a small palliative, a sophisticated public relations machine,' that maintains the fantastical `notion of benevolent... assistance.' She backs up these big claims with readable, thorough theory and analysis, and current case studies.
She maps how DFIs, the `Great Predators,' direct capital to the global elite and debts to the poorest in language accessible to us non-economists, explaining for example, what markets are, how they are made, and what purposes they serve, a talent consistent with her belief that `technical language... serves to hide and mystify more general relationships of social power, privilege, and status and critically obscures how the divide between the global haves and have nots is maintained....' I find her focus on the `actual institutions and agents that `do' the development' refreshing and non-ideological; she avoids dogmatic posturing. She explains how this web of DFIs function in order to understand a direction for our collective energy and creativity: the `democratic reform of the regulation of money and its institutional system of supply.' We must `"structurally adjust" the nature of markets in favour of the poor and excluded. Markets are managed, so how that is done both shapes social and economic outcomes, and can be the subject of change.'
Her claim that development (re)produces rather than reduces poverty may be a lot to stomach, especially for those who hope that development offers a home for their passion to make change. But in my experience, students are not buying the rhetoric of development, and are alert to the crumbling institutional `ability to sell the development project as a benevolent gift to the poor, while simultaneously pursuing the export of capital from the North and the reconstruction of North power and privilege.' When people enter the field of 'development' is the crucial moment to read Sarah's analysis, before their creativity and ethics are trained out of them by a dominant discourse and practice of inequality, before they confuse GDP with wellbeing. This is the moment to explore Sarah's question (and her response in this text) `how are resources owned, used and distributed, and how democratic is the procedure which makes these decisions?' And this is the audience to respond to her call for democratic change.
I work with people studying international development at the graduate level. Every day, I am relieved to find among these students a large number of creative, curious, critical people who are open to questioning themselves, their motivations and abilities, and the nature and purpose of development. They are the best audience for political economist Sarah Bracking's Marxist structural analysis of `Development,' a comprehensive, incisive study of Development Finance Institutions (DFIs), a web of public-private entities that control the global flow of money in the form of investment, debt and aid (and how these terms are applied and defined) and serve, in Sarah's view, to `take away people's assets and livelihoods, impoverish them, and then stymie people's efforts, alongside development workers, to help themselves recover.' `Development' itself is part of the global mechanism that manage who is poor and who is rich, and `the global development "budget" is no more than a small palliative, a sophisticated public relations machine,' that maintains the fantastical `notion of benevolent... assistance.' She backs up these big claims with readable, thorough theory and analysis, and current case studies.
She maps how DFIs, the `Great Predators,' direct capital to the global elite and debts to the poorest in language accessible to us non-economists, explaining for example, what markets are, how they are made, and what purposes they serve, a talent consistent with her belief that `technical language... serves to hide and mystify more general relationships of social power, privilege, and status and critically obscures how the divide between the global haves and have nots is maintained....' I find her focus on the `actual institutions and agents that `do' the development' refreshing and non-ideological; she avoids dogmatic posturing. She explains how this web of DFIs function in order to understand a direction for our collective energy and creativity: the `democratic reform of the regulation of money and its institutional system of supply.' We must `"structurally adjust" the nature of markets in favour of the poor and excluded. Markets are managed, so how that is done both shapes social and economic outcomes, and can be the subject of change.'
Her claim that development (re)produces rather than reduces poverty may be a lot to stomach, especially for those who hope that development offers a home for their passion to make change. But in my experience, students are not buying the rhetoric of development, and are alert to the crumbling institutional `ability to sell the development project as a benevolent gift to the poor, while simultaneously pursuing the export of capital from the North and the reconstruction of North power and privilege.' When people enter the field of 'development' is the crucial moment to read Sarah's analysis, before their creativity and ethics are trained out of them by a dominant discourse and practice of inequality, before they confuse GDP with wellbeing. This is the moment to explore Sarah's question (and her response in this text) `how are resources owned, used and distributed, and how democratic is the procedure which makes these decisions?' And this is the audience to respond to her call for democratic change.
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