| This study argues that the source of failure for the World Bank's poverty reduction policies lies in its principle and normative frameworks. These have been identified as primary sources because they not only sustain the Bank's operation and the continuity of their policy approach, but they are also products of a more complex and detailed dynamic. This dynamic was created, and is currently sustained by, a relationship between the Bank's dominant states, their respective most influential social forces, and capital. The quantum is evident on many levels, the most notably being the knowledge produced and legitimized by the Bank. Curiously, this knowledge, however sound and reasonable relative to the standards of economic science, is not able to successfully construct solutions for poverty reduction. The argument put forth is that the Western and Eurocentric origins of these theories do not, and cannot, account for the unique circumstances in which poverty emerges. |
