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Library Journal Review

MacEwan argues in this short book that world debt is associated with U.S. imperialism and the built-in structural features of international capitalism, and examines the case of Latin America as illustrative of his thesis. The author believes the problems associated with debt will not be resolved because policy decisions have not altered the rules of the game, only the strategy for playing. MacEwen offers a clear argument on a complex subject and insights into contradictory Third World policies, but does not convincingly establish the connection between state imperialism and debt, nor offer an alternative, viable economic model. Recommended for academic libraries.-- Roderic A. Camp, Central Coll., Pella, Ia. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

CHOICE Review

This provocative book attempts to relate US "imperial decline" to Third World debt in particular and international economic instability in general. The author's purpose is to tell the story of international debt and disorder properly to get to the "roots of international capitalism." Throughout, MacEwan describes familiar international debt problems from a different perspective, emphasizing that the debt crisis is really a crisis of misery entailed by measures to repay debt, for a debt problem "is always a distributional problem." He argues that what he views as a debacle of debt grew out of the normal operation of capitalism. It is not surprising that the remedy he proposes for the economic disorder associated with international debt is the "expansion of progressive educational programs." This volume is useful for those interested in exploring unorthodox analyses of complex international financial affairs. Upper-division undergraduate and graduate collections. C. L. Nelson Davidson College