Original Research

Book review: Unholy trinity: The IMF, World Bank and WTO Richard Peet

M Breitenbach
South African Journal of Economic and Management Sciences | Vol 9, No 4 | a1054 | DOI: https://doi.org/10.4102/sajems.v9i4.1054 | © 2014 M Breitenbach | This work is licensed under CC Attribution 4.0
Submitted: 21 May 2014 | Published: 22 May 2014

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Abstract

In this timely book Richard Peet and his team lay the foundation with an excellent analysis of the process of globalisation and the resultant emergence of the global economy. The authors are especially critical of the increasing influence of institutions like the International Monetary Fund (IMF), World Bank and World Trade Organisation (WTO) on the economy and the consequences experienced by peoples, cultures and the environment. The single ideology of neo-liberalism is blamed for the undesirable outcomes. This book considers concepts of power, political interest, hegemony, discourse, responsibility and the power of practicality, in critically examining the IMF, World Bank and WTO. The conclusion is reached that “all three institutions play roles greatly different from those originally agreed to under the charters that set them up”.

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