The first example is that of the World Bank and International Monetary Fund’s SAPs—Structural Adjustment Programs. SAPs were put into effect during the 1970s and 1980s as a condition of a developing country receiving a loan from the World Bank or IMF. Armed with the goal of jump-starting capitalism and entrance into the world economy, SAPs were prescriptive packages whose flaws led them to fail socially and economically.
SAPs were “a new euphemism for modernization and growth at all costs…often consisting of a package of actions that include currency devaluation, reducing inflation, downsizing the public service, drastic cutbacks on government expenditures on education, health care and welfare, financial reform, privatization of public enterprises, export promotion, and other policies…” (Konadu-Agyemang 2000: 473). The implementation of these modifications was supposed to remove