5min chapter

The "What is Money?" Show cover image

How the IMF and World Bank Repress the Poor with Alex Gladstein (WiM263)

The "What is Money?" Show

CHAPTER

Is Debt the New Weapon of Development?

The IMF and World Bank share headquarters. They are connected by different tunnels and bridges to almost stress the fact that they're essentially sister organizations. It's this giant giant thing that says end poverty. That's really kind of grotesque in a way when you realize that what they really do is create capital flows from poor countries to rich countries. What was previously done with violence, with weapons, has since the 60s been done through debt.

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