This book investigates whether orthodox stabilization programs imposed by international financial institutions are effective in developing economies and proposes a structuralist alternative. Lance Taylor, a prominent economist known for his work in structuralist macroeconomics, synthesizes empirical data from various developing nations to challenge the prevailing monetarist orthodoxy. He argues that standard IMF and World Bank policies often ignore the unique institutional and structural constraints of the Third World, ultimately hindering long-term growth. The text provides a theoretical framework for modifying these market-oriented methodologies to better align with the realities of developing economies.

Experts recognize this work as a foundational text for those studying the limitations of standard international development policies. Readers frequently note the technical density of the prose, which assumes a solid background in macroeconomic theory.