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

The Transformation of Traditional Military Imperialism to a More Monetary Empire

The World Bank and IMF were not created for this purpose necessarily. They were, I do believe, created authentically to essentially help rebuild Europe and stabilize a world economy that was in disarray. So as that ability to just go and like rape and pillage became less possible for the powers that be, they developed a new way to do that. And again, this transformation really crystallizes in the 60s. It reminds me of the, I think it was a John, John Adams quote that there's two ways to conquer a country. One is by sword, the other is by debt.

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