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[...] During the first six months of 1974, when the fiscal effects of the oil crisis became clear, the G-7 enjoyed a $6 billion surplus with the nonpetroleum exporting Third World states, but it suffered a $4 1 billion deficit with the oil exporting states. A year later, the nonpetroleum states owe…

[...] World inflation, high oil prices, and a drop in commodity prices effected the reserves, as it did those of most of the darker nations. In 1960, the total debt of the 133 states that the world Bank counted as part of the "developing countries" held a total public and private debt just short of…

By the early 1 970s, the government reactivated its efforts to break Jamaica out of its impoverished chrysalis at the nether end of global capitalism. Manley' s son Michael ran a ferocious and successful political campaign against the global economic system that stacked the decks against countries …

[...] Drawing from the work of w. Arthur Lewis, a com­rade and friend of Prebisch, the Jamaican government pursued the policy of "industrialization by invitation." A system of leases permitted the government to channel industrial investment into those areas of the economy that allowed for social de…

The Third World agenda understood that the economic suffocation of the darker nations came not only from abstract economic principles but crucially because these principles had been set up through the political intervention of powerful actors. The rules of international trade, for instance, were no…