Masters of Illusion: World Bank and the Poverty of Nations - Hardcover

This is a history of the World Bank and the impact its activities have had on the developing world since 1945. It was set up with a pledge to bring the Third World into the first, but 50 years later the gap between the two is wider than ever. Insulation from public scrutiny has given the World Bank power and privilege - it uses taxpayer's money to underwrite the bad loans of private banks and tied aid to ensure that every dollar loaned comes back through the purchase of goods by the borrower.;This work provides a tale of bureaucrats focused on economic factors and political interests, and finished projects which were never evaluated, with whole villages relocated to make room for another dam or motorway.