The New Gnomes: Multinational Banks in the Third World

The New Gnomes: Multinational Banks in the Third World

The New Gnomes: Multinational Banks in the Third World

The New Gnomes: Multinational Banks in the Third World

Excerpt

This study of multinational banks in the Third World is one of a series of publications from the International Economic Order Project of the Transnational Institute. Combined with the TNI Pamphlet, The International Economic Order, by Orlando Letelier and Michael Moffitt, this pamphlet provides the foundation for a thorough understanding of the issues surrounding the current conflict between the rich and poor countries over the establishment of a more just and equitable international economy. Future TNI Pamphlets from the International Economic Order Project will address questions of Third World trade relations with the mature capitalist countries; the future prospects for the organization of producer associations in commodities other than oil; the failure of traditional development strategies; and the creation of alternative strategies which form a transition to non-capitalist and socialist forms of economic development.

This analysis of multinational banking in the Third World originated in a series of discussions I had with Richard J. Barnet, Michael Moffitt, Juan Gabriel Valdes, and Waldo Fortin. Comments on earlier drafts were generously provided by Richard J. Barnet, Michael Moffitt, Carol Kurtz, and Saul Landau. Mark Hertsgaard provided valuable research assistance on the study.

Though our association lasted only a few brief months, the late Orlando Letelier remains a dominant inspiration for my work in the International Economic Order Project. His life was a model of thought and action, guided by a profound sense of right and wrong.

Howard M. Wachtel May 12, 1977 . . .

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