The Pillage of the Third World by Pierre Jalee (Vintage 1968 Edition)

Jalee uses the term “”Third World”” with reservations, because he maintains that the underdeveloped nations form part of the capitalist world–its “”happy hunting ground.”” Political independence has not stopped economic exploitation. The poor nations export raw materials at low prices, buy manufactures at high ones, and get relatively poorer every year. They are poor because of aid and private investment, not despite them: aid sustains oligarchs, foreign business sales, and imperialistic ties, while outside investors drain desperately needed capital. A familiar enough thesis, but Jalee has painstakingly buttressed it with United Nations statistics, updating his analyses for the English edition. He is particularly preoccupied with trade, arguing against Ernest Mandel’s view that the industrialized nations are disengaging from Third World trade. (Otherwise he undertakes no further ad hominem polemics with other neo-Leninist economists like Batan, Magdoff, O’Connor and Frank.) His documentation remains the chief merit of the book–it’s a gold mine for students and specialists.