7 of 7 people found the following review helpful
A fascinating insight into the policies of the IMF,
This review is from: Globalization and Its Discontents (Paperback)
This is a very powerful account of how the policies of the IMF in 'assisting' developing countries have more often than not exacerbated the very problems that they are trying to solve. It is a brilliant critique of free market theory.
It is primarily an argument against the strict monetarist policies enforced by the IMF. Stiglitz argues that the 'one size fits all' approach used, actually fits none. In purely economic terms, this is perhaps an argument that is best left to the economists. However, Stiglitz is insistent that the social and political consequences of the pursuit of these policies cannot be ignored.
It would be easy to dismiss this as an attempt to discredit the instruments of capitalism. However, the authors background within, and widespread support for those instruments discounts this.
In summary, this is an excellent book which, despite the complex nature of the economic theories involved is very readable and easy to follow throughout.