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I highly recommend anyone who doesn't know anything about how the IMF interacts with poor countries to watch this documentary called "Life and Debt"[0] which is

I highly recommend anyone who doesn't know anything about how the IMF interacts with poor countries to watch this documentary called "Life and Debt"[0] which is about how the IMF basically destroyed Jamaica's economy. Basically, long story short, the IMF will immediately tell a country that they cannot bolster their local companies with tariffs or other legal means, meaning that local food industries (in the example of Jamaica) and numerous other sorts of local businesses immediately go bankrupt due to competition, and joblessness soars. So the IMF will immediately take advantage of a country and kill basically any law that they have to try and bolster their local economy, in the need for the 'greater good'. Gorramn Tau. [0]: https://en.wikipedia.org/wiki/Life_and_Debt https://en.wikipedia.org/wiki/Life_and_Debt

TaylorAlexander 5y ago
Here’s another one, “War by Other Means” by John Pilger: https://youtu.be/9Pi1sHbXWXw https://youtu.be/9Pi1sHbXWXw
- splix 5y ago
  Also "Princes of the Yen", it mentions how IMF took advantage over Asia https://www.youtube.com/watch?v=5-IZZxyb1GI https://www.youtube.com/watch?v=5-IZZxyb1GI
  - TaylorAlexander 5y ago
    Great thank you. I am very interested in alternative ways to organize the global economy that are more equitable and fair so I appreciate the link. I should also mention Naomi Klein's No Logo. https://www.youtube.com/watch?v=oeTgLKNb5R0 https://www.youtube.com/watch?v=oeTgLKNb5R0
  - deleted 5y ago
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ChrisLomont 5y ago
Instead of only looking at one side, consider the IMF is mostly a lender of last resort. So when a country needs IMF help, it's IMF or likely even worse outcomes. If you want a more accurate view, read research papers on google scholar. Here's papers on IMF from 2017 [1]. The short take is the IMF provides lots of help to ailing countries, saves some and loses some. Pop culture doesn't tend to spread news of the winners since spreading lopsided arguments sells more books and blog posts. Google scholar is a much more balanced and accurate place. [1] https://scholar.google.com/scholar?as_ylo=2017&q=imf&hl=en&as_sdt=0,14 https://scholar.google.com/scholar?as_ylo=2017&q=imf&hl=en&a...
- MonkeyClub 5y ago
  > consider the IMF is mostly a lender of last resort Yep that's an important clarification indeed. The IMF is a nation's last resort, like loan sharks would be a person's. The documentaries referenced above seem to draw a picture of the IMF as a financial hit squad. Haven't watched the Jamaica one yet, will schedule it for the weekend, but I'll be very surprised if it doesn't speak about a pattern of devastating IMF requirements similar to those documented in the others.
  - ChrisLomont 5y ago
    It's good that you know what's better for countries than the countries themselves. You should volunteer to help them.
    - DougN7 5y ago
      If countries are in so much trouble they need the IMF they might not no better (or more likely, have the political options to do what is needed).
- Guessnotgauss 5y ago
  Yeah, I can see how you could frame it that way. But there is some basic context that is missing. Most policies used by the IMF are a result of a developing economy (country) wanting to be competitve on the international level and trade more. These loans are based on policies that dont work and are designed to put those countries into a form of servitude by struggling to repay debts (see import substitution). https://en.m.wikipedia.org/wiki/Import_substitution_industrialization https://en.m.wikipedia.org/wiki/Import_substitution_industri... Another method is to build infrastructure and make it impossible to pay back the interest. The IMF works in concert with the World Bank. This model of manipulation is the way you rule the empire now. Why fight wars that arent profitable when you can manipulate economies on a macro level. https://en.m.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man https://en.m.wikipedia.org/wiki/Confessions_of_an_Economic_H...
dbs 5y ago
[0]: https://en.wikipedia.org/wiki/Life_and_Debt https://en.wikipedia.org/wiki/Life_and_Debt It would be good to find a review (positive or negative) of that movie by economists, not movie critics. Until then, call me a skeptic.
- antifa 5y ago
  The ability to find genuine reviews by relevant experts in general would be nice.
weare138 5y ago
'A Brief History of Neoliberalism' by David Harvey is also an excellent book on the subject.

TaylorAlexander 5y ago

Here’s another one, “War by Other Means” by John Pilger: https://youtu.be/9Pi1sHbXWXw https://youtu.be/9Pi1sHbXWXw

splix 5y ago
Also "Princes of the Yen", it mentions how IMF took advantage over Asia https://www.youtube.com/watch?v=5-IZZxyb1GI https://www.youtube.com/watch?v=5-IZZxyb1GI
- TaylorAlexander 5y ago
  Great thank you. I am very interested in alternative ways to organize the global economy that are more equitable and fair so I appreciate the link. I should also mention Naomi Klein's No Logo. https://www.youtube.com/watch?v=oeTgLKNb5R0 https://www.youtube.com/watch?v=oeTgLKNb5R0
- deleted 5y ago
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deleted 5y ago

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ChrisLomont 5y ago

Instead of only looking at one side, consider the IMF is mostly a lender of last resort. So when a country needs IMF help, it's IMF or likely even worse outcomes. If you want a more accurate view, read research papers on google scholar. Here's papers on IMF from 2017 [1]. The short take is the IMF provides lots of help to ailing countries, saves some and loses some. Pop culture doesn't tend to spread news of the winners since spreading lopsided arguments sells more books and blog posts. Google scholar is a much more balanced and accurate place. [1] https://scholar.google.com/scholar?as_ylo=2017&q=imf&hl=en&as_sdt=0,14 https://scholar.google.com/scholar?as_ylo=2017&q=imf&hl=en&a...

MonkeyClub 5y ago
> consider the IMF is mostly a lender of last resort Yep that's an important clarification indeed. The IMF is a nation's last resort, like loan sharks would be a person's. The documentaries referenced above seem to draw a picture of the IMF as a financial hit squad. Haven't watched the Jamaica one yet, will schedule it for the weekend, but I'll be very surprised if it doesn't speak about a pattern of devastating IMF requirements similar to those documented in the others.
- ChrisLomont 5y ago
  It's good that you know what's better for countries than the countries themselves. You should volunteer to help them.
  - DougN7 5y ago
    If countries are in so much trouble they need the IMF they might not no better (or more likely, have the political options to do what is needed).
Guessnotgauss 5y ago
Yeah, I can see how you could frame it that way. But there is some basic context that is missing. Most policies used by the IMF are a result of a developing economy (country) wanting to be competitve on the international level and trade more. These loans are based on policies that dont work and are designed to put those countries into a form of servitude by struggling to repay debts (see import substitution). https://en.m.wikipedia.org/wiki/Import_substitution_industrialization https://en.m.wikipedia.org/wiki/Import_substitution_industri... Another method is to build infrastructure and make it impossible to pay back the interest. The IMF works in concert with the World Bank. This model of manipulation is the way you rule the empire now. Why fight wars that arent profitable when you can manipulate economies on a macro level. https://en.m.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man https://en.m.wikipedia.org/wiki/Confessions_of_an_Economic_H...

dbs 5y ago

[0]: https://en.wikipedia.org/wiki/Life_and_Debt https://en.wikipedia.org/wiki/Life_and_Debt It would be good to find a review (positive or negative) of that movie by economists, not movie critics. Until then, call me a skeptic.

antifa 5y ago
The ability to find genuine reviews by relevant experts in general would be nice.

weare138 5y ago

'A Brief History of Neoliberalism' by David Harvey is also an excellent book on the subject.