This is a short and trenchant history of the organizations--the World Bank, IMF, WTO, and Group of Seven--that have promoted economic globalization and which are now trying to manage the unmanageable. Walden Bello points to their manifest failings, seen in recurrent financial crises, the ever widening gulf between developing and industrialized countries, the persistence of gross inequalities, and mass poverty. He examines new ideas for reforming world economic management, and argues that a much more fundamental and radical shift of direction is required.