Unholy trinity: the IMF, World Bank and WTO

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Zed Books, May 15, 2009 - Business & Economics - 287 pages

Who really runs the global economy? The triad of "governance institutions"--The IMF, the World Bank and the WTO. Globalization hugely increased these undemocratic institutions' power, drastically affecting the livelihoods of peoples across the world with their particular kind of neoliberal capitalism. Their 'Washington Consensus' proposed that poverty was to be ended by increasing inequality. This new edition of Unholy Trinity is completely updated and revised. It argues neoliberal global capitalism has produced an unstable global economy, rife with speculation and structurally prone to crises.  Indeed the crisis is now so severe that governance will become impossible. The IMF is in disgrace, the WTO can hardly meet and the World Bank survives as a global philanthropist. Is this the end for the Unholy Trinity?

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Unholy trinity: the IMF, World Bank, and the World Trade Organization

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Geography professor Peet explores the institutional histories of the three pillars of the global financial order, from their circumscribed beginnings at the post-war Bretton Woods Conference to their ... Read full review

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"This is a brilliant book".
Unholy trinity examines the political and the rather complex global organizations we commonly refer to as the IMF, World Bank and the WTO and their implications in the
world economy. Richard Peet in this updated second edition analytically exposes facts and provides solutions for reform in a somewhat sophisticated manner. Richard Peet engages his readers and provides a significant history lesson in relation to these organizations. The book is delivered in six chapters ;
1. Globalism and neoliberalism
2. Bretton Woods: emergence of a global economic regime
3. The International monetary fund
4. The World Bank
5. The World Trade Organization
6. Global financial capitalism and the crisis of governance
Global governance and strategies for improving it are thoughtfully discussed in this book.


emergence of a global
The International Monetary Fund
The World Bank

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About the author (2009)

Richard Peet is Professor of Geography at Clark University.