Michel Chossudovsky

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Michel Chossudovsky is a Canadian economist. He is professor of economics (emeritus) at the University of Ottawa.

Sourced[edit]

The Globalization of Poverty and the New World Order - Second Edition - (2003)[edit]

  • Relentlessly feeding on poverty and economic dislocation, a New World Order was taking shape.
    • Preface to the Second Edition, p. xxii
  • Humanity is undergoing, in the post-Cold War era, an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors of the world population.
    • Introduction, p. 1
  • Modern capitalism appears totally incapable of mobilizing these untapped human and resources.
    • Introduction, p. 7
  • The WTO was put in place following the signing of a "technical agreement" negotiated behind closed doors by bureaucrats. Even the heads of country-level delegations to Marrakech in 1994 were not informed regarding the statutes of the WTO, which were drafted in separate clossed sessions by technocrats.
    • Chapter 1, The Globalization of Poverty, p. 25
  • Mainstream economics scholarship produces theory without facts ("pure theory") and facts without theory ("applied economics")
    • Chapter 2, Global Falsehoods, p. 27
  • The budget targets imposed by the Bretton Woods institutions, combined with the effects of the devaluation, trigger the collapse of public investment.
    • Chapter 3, Policing Countries Through Loan "Conditionalities", p. 53
  • According to the World Bank, the concentration of wealth and the structures of corporate economic power have no bearing on woman's rights.
    • Chapter 4, The World Bank and Woman's Rights, p. 67
  • Global poverty is an "input" on the supply side; the global economic system feeds on cheap labor.
  • The experience of Somalia shows that famine in the late 20th century is not a consequence of a shortage of food. On the contrary, famines are spurred on as result of a global oversupply of grain staples.
    • Chapter 6, Somalia The Real Causes of Famine, p. 99
On the contrary, famines are spurred on as result of a global oversupply of grain staples.
  • The civil war in Rwanda and other ethnic massacres were an integral part of US foreign policy, carefully staged in accordance with precise strategic and economic objectives.
    • Chapter 7, Economic Genocide in Rwanda, p. 120
  • In return, US surpluses of genetically engineered maize (banned in the European Union) were being dumped on the horn of Africa, in the form of emergency aid.
    • Chapter 9, Wreaking Ethiopia's Peasant Economy, p. 141
  • Both Hindu, as well as Islamic fundamentalism, feed on the poverty of the masses.
    • Chapter 10, India: The IMF'S "Indirect Rule", p. 155
  • Moreover, the entire international trading system is prone (from the lower echelons to top state officials) to corruption and bribery by foreign contractors.
    • Chapter 12, The Post War Economic Destruction of Vietnam, p. 177
  • Macro-economic policy had accelerated the "expulsion" of landless peasants from the countryside leading to the formation of a nomadic migrant labor force moving from one metropolitan area to another.
    • Chapter 13, Debt and "Democracy" in Brazil, p. 200
  • Macro-economic reform undermined the legal economy, reinforced illicit trade and contributed to the recycling of "dirty money" towards Peru's official and commercial creditors.
    • Chapter 14, IMF Shock Treatment in Peru, p. 225
  • For the West, the enemy was not "socialism" but capitalism. How to tame and subdue the polar bear, how to take over the talent, the science, the technology, how to buy out the human capital, how to acquire the intellectual property rights?
    • Chapter 16, The "Thirdworldization" of the Russian Federation, p. 240
  • The collapse of the standard of living, engineered as result of macro-economic policy, is without precedent in Russian history: " We had more to eat during the Second World War."
    • Chapter 16, The "Thirdworldization" of the Russian Federation, p. 241
  • Lost in the barrage of images and self-serving analysis are the economic and social causes of the conflict.
    • Chapter 17, Dismantling Former Yugoslavia, p. 257
  • While Financier George Soros was investing money in Kosovo's reconstruction, the George Soros Foundation for an Open Society had opened a branch office in Pristina establishing the Kosovo Foundation for an Open Society (KFOS) as part of the Soros' network of "non-profit foundations" in the Balkans.
    • Chapter 17, Dismantling Former Yugoslavia, p. 273
  • Legal and illegal activities had become inextricably intertwined.
    • Chapter 18, Albania's IMF Sponsored Financial Disaster, p. 293
  • " The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world,"
    • Chapter 19, Structural Adjustment in the Developed Countries, p. 303
Both Hindu, as well as Islamic fundamentalism, feed on the poverty of the masses.
  • A new global financial environment has unfolded in several stages since the collapse of the Bretton Woods system of fixed exchange rates in 1971.
    • Chapter 20, Global Financial Meltdown, p. 309
  • In a cruel irony, speculators - rather then elected politicians - are the shots on crisis management. In an absurd logic, those who foster financial turbulence have been invited by the G7 Finance ministers to identify policies which attenuate financial turbulence.
    • Economic Warfare, Chapter 21, p. 327
  • America had come to the rescue of Korea's "troubled banks". The auction of commercial bank assets was an obvious fraud.
    • The Recolonization of Korea, Chapter 22, p. 340

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