The Great Convergence: A New Era Of Globalization

As the world becomes one big economy, struggling nations will rise substantially until the great convergence is complete – not only economically, but politically and socially.

Erik Hare
By Erik Hare

The big story of the last 20 years has been a tale of two worlds coming together.  While the developed world experienced a decade of growth in the 1990s followed by stagnation and then decline in the 2000s, the developing world saw nothing but growth.  The two  phenomena are related in the tremendous expansion of credit and general money supply,

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What Do the World Bank and IMF Really Do for Needy Countries? Add More Poverty

The World Bank creates programs to allow international companies to invest in developing countries’ agriculture, health, and water as well as promote local enterprise — giving locals the assistance they need. Sound too good to be true? It probably is.

Jo Erickson
By Jo Erickson
Ecuador IMF Protest Photo of the day

Coming in with their guns, breaking down people’s doors, throwing my blankets and pans into the road and pulling my roof down, that’s what is happening here. They want us gone. Those were the words of Abdellahi, an Ethiopian farmer who was forcibly driven from his land by soldiers to make way for a World Bank $2 billion program that will hand over

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Dollar Doldrums: World Seeks Alternative To Greenback As International Currency

Since the global banking collapse, many in the international community have sought an escape from the U.S. dollar as the primary reserve currency.

Frederick Reese
By Frederick Reese

Since the 2008-2009 global banking collapse -- which drew the vast majority of the world economy into a lingering recession alongside the United States -- many in the international community have sought an escape from the American dollar as the primary global reserve currency. Fears of continuing fiscal instability, a desire to make global finances

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