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| The World Bank and the Gods of Lending | 
 enlarge | List Price: $24.95 (€19.71)
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Avg. Customer Rating:  (based on 2 reviews)
Sales Rank: 298239
Category: Book
Author: Steve Berkman
Publisher: Kumarian Press
Studio: Kumarian Press
Manufacturer: Kumarian Press
Label: Kumarian Press
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Number Of Items: 1
Pages: 256
Shipping Weight (lbs): 0.8
Dimensions (in): 8.9 x 6 x 0.9
ISBN: 1565492595
Dewey Decimal Number: 332.1532
EAN: 9781565492592
ASIN: 1565492595
Publication Date: June 25, 2008
Availability: Usually ships in 1-2 business days
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Product Description
Uncovering the World Bank s loan programs in the developing world in "The Gods of Lending", author Steve Berkman finds nothing but mismanagement and hypocrisy: decades of assistance without any significant improvement in the lives of the poor; billions loaned for improving governance, health care and education with little to show for it; and donor funds given to dysfunctional government institutions or officials with a history of looting national treasuries. With sixteen years as a Bank staff and consultant, Berkman presents compelling evidence of deceptive reporting and lack of due diligence as billions of dollars are wasted every year on corrupt and negligent programs.
Using internal reports and memos, project documents and the Bank s Annual Reports as reference, Berkman demonstrates management s obsession with lending despite the high fiduciary risks involved. Taking the reader inside several project fraud investigations, he exposes the ease with which funds can be stolen from the Bank s portfolio, and the degree to which these thefts are ignored. Painting a picture of an institution that is run by a bloated bureaucracy, "The Gods of Lending" proposes changes that will rouse the Bank from its bureaucratic complacency and restore its central mission of alleviating poverty.
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| Customer Reviews:
A look at how bad mismanagement can be November 9, 2008
1 out of 1 found this review helpful
Globalization has lead to the formation of a World Bank but how has such a venture turned out? "The World Bank and the Gods of Lending" is a thorough and scholarly examination of the acts of the World Bank. Looking at its history of loans and how it has spent its money, Berkman shows a story that tells of the corruption and mismanagement of this goliath of economics. Drawn from actual world bank reports and his own experience as a bank employee, the tale is quite shocking and saddening. "The World Bank and the Gods of Lending" is a look at how bad mismanagement can be.
4.5 stars-Demonstrates that the majority of World Bank loans are being stolen by corrupt officials November 2, 2008
This book confirms what has long been suspected-the majority of World bank loans to second and third world countries are simply transferred into the private,foreign bank accounts of government officials whom the World Bank KNOWS are stealing the money.This is especially the case in black African states.Loans that were supposed to fund transportation,healthcare and education projects are simply looted.One of the best examples is Kenya.The recent near rebellion in Kenya is a result of nearly 40 years worth of aid project loans being ripped off by the dominant Kuyuku tribe.
The most important chapters are chapters 2,8, 9,and 20.There are far,far too many economists in important decision making positions of power in the World Bank's massive bureaucracy .Berkman shows in chapter 2 that the economists lack basic managerial skills and rely on assorted appeals to libertarian,free market ideology and invisible hand of the market claims that will supposedly self police the loan process .Chapters 8 and 9 provide the details about how simple and easy it is to manipulate the accounting books and steal vast sums right under the noses of the economist managers.Chapter 20 establishes that the loan losses are in the billions of dollars per year.
I have deducted 1/2 of a star because the author could have made good use of Adam Smith's analysis in The Wealth of Nations to buttress his position intellectually.Smith's discussions on pp.434-439 of WN on Tariffs and Trade are timeless.The absurd economist position that all tariffs are bad is a result of the economics profession penchant for self delusion.
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