Who really runs the global economy? Who benefits most from it?

The answer is a triad of 'governance institutions' - The IMF, the World Bank and the WTO. Globalization massively increased the power of these institutions and they drastically affected the livelihoods of peoples across the world. Yet they operate undemocratically and aggressively promote a particular kind of neoliberal capitalism. Under the 'Washington Consensus' they proposed, poverty was to be ended by increasing inequality.

This new edition of Unholy Trinity, completely updated and revised, argues that neoliberal global capitalism has now entered a period of crisis so severe that governance will become impossible. Huge incomes for a small number of super-rich people produced an unstable global economy, rife with speculation and structurally prone to crises. The IMF is in disgrace, the WTO can hardly meet anymore and the World Bank survives as a global philanthropist. Is this the end for the Unholy Trinity?

About the Author

Richard Peet is Professor of Geography at Clark University in Worcester, Massachusetts, USA. He obtained his BSc (Econ) at the London School of Economics, his MA from the University of British Columbia, and his PhD at the University of California. He was the Editor of the radical geography journal, Antipode, from 1970 to 1985 and Co-Editor of Economic Geography between 1992 and 1998. His published books include: Radical Geography (Maaroufa Press, Chicago, 1977), Global Capitalism: Theories of Societal Development (Routledge, London 1991), Modern Geographical Thought (Blackwell, Oxford, 1998), (with Elaine Hartwick) Theories of Development (New York: Guilford 1999), (with Michael Watts) Liberation Ecologies (London: Routledge 1996 and 2004) and Unholy Trinity: The IMF, World Bank and WTO (Zed Books, 2003). Unholy Trinity has been translated into Spanish as La Maldita Trinidad and is being translated into Arabic and Korean.

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