Development

In 1944 the conferences at Bretton Woods institutionalized the IMF, the World Bank and a complex of international institutional agencies. Together these have embodied an intellectual paradigm which over time has become a universal world view and an ideology. The paradigm was the synthesis of neoclassical and Keynsian economics, the so-called neoclassical synthesis. The ideology was capitalism. This paradigm has served the interests of governments, major corporations and financial institutions of the Western industrial countries and became over the last 50 years the blueprint for a process of globalization. This book analyzes this process of change as the global situation of the major governments, corporations and financial institutions have altered over this period. It offers a challenge to prevailing ideologies and a new paradigm for development issues in the 21st century.